CDC Corporation Expects To Exceed High End of Its Pre-Announced Second Quarter 2008 Revenue
July 29 2008 - 6:30AM
Business Wire
CDC Corporation (NASDAQ: CHINA), a leading global enterprise
software and new media company, today announced that based on
further financial analysis, the company anticipates it will exceed
the high end of its previously announced revenue estimates for Q2
2008 of between (U.S.)$107.3 -108.5 million, which already
represents an all-time record quarter for the company. �We are
pleased that our results indicate CDC will exceed our already
announced second quarter 2008 revenue estimates and we are seeing
improving profitability relative to the first quarter of 2008,�
said Peter Yip, CEO of CDC Corporation. �We believe that this
validates the success of our strategy on focusing exclusively on
improving operating metrics and preserving cash. As part of our
goal to improve financial transparency and operating performance,
we are aiming to execute on a more timely reporting schedule.� CDC
Software will hold a conference call to discuss the company's
second quarter 2008 earnings and operating results on Thursday,
August 7, 2008 at 5 PM EDT. An earnings release will precede the
call, posting to the wires after the market closes on August 7,
2008. To listen, call the access number a few minutes before the
scheduled start time of the call. Date: Thursday, August 7, 2008
Time: 5:00 PM EST USA and Canada Toll Free Number: + (888) 603-6873
Int�l/Local Dial-In #: #: (973) 582-2706 The conference ID number
is # 55369711 and the call leader is Mr. Monish Bahl. Webcast Link:
Investors are invited to listen to a live webcast of the conference
call which can be accessed through the investor section of the CDC
Corporation website at www.cdccorporation.net. The call can also be
accessed through www.streetevents.com. To listen to the call,
please go to the website at least 15 minutes prior to the call and
download any necessary audio software. For those unable to call in,
a digital instant replay will be available after the call until
Aug. 21, 2008. About CDC Corporation The CDC family of companies
includes CDC Software focused on enterprise software applications
and services, CDC Games focused on online games, and China.com
focused on portals for the greater China markets. For more
information about CDC Corporation (NASDAQ: CHINA), please visit
www.cdccorporation.net. Cautionary Note Regarding Forward-Looking
Statements This press release includes "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include statements regarding exceeding our anticipated range of
revenue estimates, our expectations to post record quarterly
revenues, our expectations regarding the yields of our current,
past and planned cost savings measures and improving profitability,
our beliefs regarding the success of our strategy to improve
operating metrics and preserve cash, our ability to execute on a
more timely schedule, our intentions regarding the timing of our Q2
2008 earnings release, our beliefs regarding our position and
ability to continue our growth strategy and continue to see
improvements in operating margins, and other statements that are
not historical fact, the achievement of which involve risks,
uncertainties and assumptions. If any such risks or uncertainties
materialize or if any of the assumptions proves incorrect, our
results could differ materially from the results expressed or
implied by the forward-looking statements we make. These statements
are based on management's current expectations and are subject to
risks and uncertainties and changes in circumstances. There are
important factors that could cause actual results to differ
materially from those anticipated in the forward looking
statements, including the following: (a) the ability to realize
strategic objectives by taking advantage of market opportunities in
targeted geographic markets; (b) the ability to make changes in
business strategy, development plans and product offerings to
respond to the needs of current, new and potential customers,
suppliers and strategic partners; (c) the effects of restructurings
and rationalization of operations; (d) the ability to address
technological changes and developments including the development
and enhancement of products; (e) the entry of new competitors and
their technological advances; (f) the need to develop, integrate
and deploy enterprise software applications to meet customer's
requirements; (g) the possibility of development or deployment
difficulties or delays; (h) the dependence on customer satisfaction
with the company's software products and services; (i) continued
commitment to the deployment of the enterprise software solutions;
(j) risks involved in developing software solutions and integrating
them with third-party software and services; (k) the continued
ability of the company's enterprise software solutions to address
client-specific requirements; (l) demand for and market acceptance
of new and existing enterprise software and services and the
positioning of the company's solutions; (m) the ability of staff to
operate the enterprise software and extract and utilize information
from the company's enterprise software solutions; (n) the continued
cooperation of our strategic and business partners; (o) risks
relating to economic conditions and other matters beyond our
control; (p) the risk that the preliminary financial results
provided herein could differ from our actual results of operations
and financial condition; and (q) the continued strength of revenues
from our installed base customers. Further information on risks or
other factors that could cause results to differ is detailed in
filings or submissions with the United States Securities and
Exchange Commission made by CDC Corporation in its Annual Report
for the year ended December 31, 2007 on Form 20-F filed on June 30,
2008. All forward-looking statements included in this press release
are based upon information available to management as of the date
of the press release, and you are cautioned not to place undue
reliance on any forward looking statements which speak only as of
the date of this press release. The company assumes no obligation
to update or alter the forward looking statements whether as a
result of new information, future events or otherwise.
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