SHANGHAI, Aug. 26, 2014 /PRNewswire/ -- Taomee Holdings
Limited (NYSE: TAOM) ("Taomee" or the "Company"), a leading
children's entertainment and media company in China, today reported its unaudited financial
results for the second quarter of 2014.
Highlights of the Second Quarter of
2014
- Total net revenues were US$10.5
million in the second quarter of 2014, a decrease of 9.8%
from US$11.7 million in the first
quarter of 2014 and a decrease of 12.4% from US$12.0 million in the second quarter of
2013.
- Net revenues from online businesses were US$8.4 million in the second quarter of 2014, a
decrease of 10.5% from US$9.4 million
in the first quarter of 2014 and a decrease of 2.9% from
US$8.6 million in the second quarter
of 2013.
- Net revenues from offline businesses were US$2.1 million in the second quarter of 2014, a
decrease of 7.1% from US$2.3 million
in the first quarter of 2014 and a decrease of 36.5% from
US$3.4 million in the second quarter
of 2013.
- Gross profit was US$7.5 million
in the second quarter of 2014, a decrease of 12.0% from
US$8.5 million in the first quarter
of 2014 and a decrease of 11.9% from US$8.5
million in the second quarter of 2013.
- Loss from operations was US$1.8
million in the second quarter of 2014, compared with a
profit of US$0.5 million in the first
quarter of 2014 and a loss of US$0.5
million in the second quarter of 2013.
- Non-GAAP net loss attributable to holders of ordinary shares
was US$0.2 million in the second
quarter of 2014, as compared with US$1.2
million Non-GAAP net income in the first quarter of 2014 and
US$1.6 million Non-GAAP net income in
the second quarter of 2013.
- Non-GAAP basic and diluted loss per ADS[1] were US$0.01 and US$0.01, respectively, in the second quarter of
2014, as compared with US$0.03 and
US$0.03 earnings per ADS,
respectively, in the first quarter of 2014 and US$0.04 and US$0.04
earnings per ADS, respectively, in the second quarter of 2013.
|
[1]
|
Each American
depositary share ("ADS") represents twenty ordinary
shares.
|
Key Operating Metrics
- The number of active accounts ("ACA") for the Company's virtual
worlds under operation in mainland China was approximately 41.9 million in the
second quarter of 2014, a decrease of 7.7% from 45.1 million in the
first quarter of 2014 and an increase of 3.2% from 40.6 million in
the second quarter of 2013.
- Active paying accounts ("APA") for the Company's virtual worlds
under operation in mainland China
were 1.1 million in the second quarter of 2014, a decrease of 21.4%
from 1.4 million in the first quarter of 2014, and a decrease of
15.4% from 1.3 million in the second quarter of 2013.
- Average revenue per user ("ARPU") for the Company's virtual
worlds under operation in mainland China was approximately RMB41 in the second quarter of 2014, an increase
of 5.1% from RMB39 in the first
quarter of 2014 and an increase of 10.8% from RMB37 in the second quarter of 2013.
- The number of downloads of the mobile applications operated by
the Company increased by approximately 1.6 million (including 0.4
million downloads of Reverse World during its testing period) in
the second quarter of 2014, a decrease of 11.1% compared with 1.8
million in the first quarter of 2014 and a decrease of 30.4% from
2.3 million in the second quarter of 2013.
"The second quarter was the beginning of a transition period, in
which we made substantial progress toward strengthening our company
for the long term. We re-aligned our business units to integrate
our web, mobile, media entertainment and offline businesses to
promote our franchises in unison, as well as made progress in
developing new online games that have the potential to become
franchise contributors. At the same time, we introduced our first
mobile game from our Glove Games division, which is an emerging
area for us as we anticipate a healthy pipeline of 2-3 more mobile
games to launch before year end," commented Mr. Benson Wang, co-founder and chief executive
officer of Taomee.
"As we shift into the second half of 2014, we will continue to
invest in our unique business model that will ultimately
differentiate us from competitors. While it may take a few
quarters to ramp up, we remain confident in our strategies and the
long-term prospects of our business."
Unaudited Financial Results for Second Quarter of
2014
Net Revenues
Total net revenues were US$10.5
million in the second quarter of 2014, a decrease of 9.8%
from US$11.7 million in the first
quarter of 2014 and a decrease of 12.4% from US$12.0 million in the second quarter of
2013.
Net online business revenues were US$8.4
million in the second quarter of 2014, a decrease of 10.5%
from US$9.4 million in the first
quarter of 2014 and a decrease of 2.9% from US$8.6 million in the second quarter of 2013. The
quarter-over-quarter (QoQ) decrease was primarily due to the
seasonality of less non-school days in the second quarter. The
year-over-year (YoY) decrease was mainly driven by the decline in
active paying accounts.
Net offline business revenues were US$2.1
million in the second quarter of 2014, a decrease of 7.1%
from US$2.3 million in the first
quarter of 2014 and a decrease of 36.5% from US$3.4 million in the second quarter of 2013. The
QoQ decrease was primarily due to a decrease in our toy business,
while partially offset by an increase in our licensing business.
The YoY decrease was primarily due to the decrease in the Company's
toy business.
Cost of Services
Total cost of services was US$3.0
million in the second quarter of 2014, a decrease of 3.9%
from US$3.2 million in the first
quarter of 2014 and a decrease of 13.7% from US$3.5 million in the second quarter of 2013.
Online business related costs were US$1.7
million in the second quarter of 2014, a decrease of 12.0%
as compared with US$1.9 million in
the first quarter of 2014 and a decrease of 4.0% from US$1.8 million in the second quarter of
2013. The QoQ decrease was primarily due to a decrease in
royalties related to our operation of certain third-party developed
virtual worlds and payroll expenses. The YoY decrease was primarily
due to a decrease in amortization of intangible assets as result
from certain game impairments previously made in the fourth quarter
of 2013 and the first quarter of 2014.
Offline business related costs were US$1.3 million in the second quarter of 2014, an
increase of 8.9% from US$1.3 million
in the first quarter of 2014 and a decrease of 23.5% from
US$1.7 million in the second quarter
of 2013. The QoQ increase was primarily due to an increase in
licensing business related cost and YoY decrease was primarily due
to a decrease in costs related to our toy business.
Gross Profit and Gross Margin
Gross profit was US$7.5 million in
the second quarter of 2014, a decrease of 12.0% from US$8.5 million in the first quarter of 2014 and a
decrease of 11.9% from US$8.5 million
in the second quarter of 2013.
Gross margin was 71.3% in the second quarter of 2014, as
compared with 73.0% in the first quarter of 2014 and 70.8% in the
second quarter of 2013.
Gross margin for the online business was 79.8% in the second
quarter of 2014, as compared with 79.4% in the first quarter of
2014 and 79.5% in the second quarter of 2013.
Gross margin for the offline business was 38.3% in the second
quarter of 2014, as compared with 47.3% in the first quarter of
2014 and 48.8% in the second quarter of 2013.
Total Operating Expenses
Total operating expenses were US$9.3
million in the second quarter of 2014, an increase of 16.0%
from US$8.0 million in the first
quarter of 2014 and an increase of 2.6% from US$9.1 million in the second quarter of 2013.
- Product development expenses were US$3.4
million in the second quarter of 2014, an increase of 7.7%
from US$3.2 million in the first
quarter of 2014 and an increase of 4.2% from US$3.3 million in the second quarter of
2013. The QoQ increase was primarily due to an increase in
payroll expenses, partially offset by a decrease in toy design
fees. The YoY increase was primarily due to an increase in
share-based compensation.
- Sales and marketing expenses were US$2.9
million in the second quarter of 2014, an increase of 43.2%
from US$2.0 million in the first
quarter of 2014 and an increase of 22.6% from US$2.4 million in the second quarter of
2013. The QoQ and YoY increases were primarily due to an
increase in film promotion expenses.
- General and administrative expenses were US$3.1 million in the second quarter of 2014, a
decrease of 15.6% from US$3.6 million
in the first quarter of 2014 and an increase of 4.1% from
US$3.0 million in the second quarter
of 2013. The QoQ decrease was primarily due to a decrease in
indirect tax costs related to intercompany service charges and
professional fees. The YoY increase was primarily due to the
increased indirect tax costs related to intercompany service
charges, partially offset by a decrease in professional fees.
Income/ (Loss) from Operations
Loss from operations was US$1.8
million in the second quarter of 2014, compared with a
profit of US$0.5 million in the first
quarter of 2014 and a loss of US$0.5
million in the second quarter of 2013.
Share of Profit/ (Loss) from Equity Method
Investment
Share of loss from equity method investment was US$0.2 million in the second quarter of 2014, as
compared with a profit of US$42
thousand in the first quarter of 2014 and a loss of
US$73 thousand in the second quarter
of 2013.
Net Income/ (Loss)
Net loss attributable to holders of ordinary shares was
US$0.8 million in the second quarter
of 2014, as compared with US$0.5
million income in the first quarter of 2014 and US$0.3 million income in the second quarter of
2013.
Basic and diluted loss per ADS were US$0.02 and US$0.02, respectively, in the second quarter of
2014, as compared with US$0.01 and
US$0.01 earnings per ADS,
respectively, in the first quarter of 2014 and US$0.01 and US$0.01
earnings per ADS, respectively, in the second quarter of 2013.
Non-GAAP net loss attributable to holders of ordinary shares was
US$0.2 million in the second quarter
of 2014, as compared with US$1.2
million net income in the first quarter of 2014 and
US$1.6 million net income in the
second quarter of 2013.
Non-GAAP basic and diluted loss per ADS were US$0.01 and US$0.01, respectively, in the second quarter of
2014, as compared with US$0.03 and
US$0.03 earnings per ADS,
respectively, in the first quarter of 2014 and US$0.04 and US$0.04
earnings per ADS, respectively, in the second quarter of 2013.
Cash and Cash Equivalents
As of June 30, 2014, the Company
had US$104.4 million of cash and cash
equivalents, as compared with US$107.9
million as of March 31,
2014.
Capital Expenditures
Capital expenditures in the second quarter of 2014 were
US$0.3 million, as compared with
US$0.5 million in the first quarter
of 2014, and US$0.3 million in the
second quarter of 2013. Capital expenditures were used primarily
for (i) purchase of computer hardware and equipment, (ii) purchase
of intangible assets and (iii) purchase of franchises and online
game licensing rights for our pipeline.
Share-based Compensation
Share-based compensation was US$0.6
million for the second quarter of 2014 as compared with
US$0.6 million in the first quarter
of 2014 and US$0.3 million in the
second quarter of 2013.
Share Repurchase Program
During the second quarter of 2014, Taomee repurchased 682,450
ADSs. As of June 30, 2014, the
Company has repurchased a total of 2,802,163 ADSs under the
Company's share repurchase program at an average price of
approximately US$5.57 per ADS.
Recent Business Highlights
- On July 12 2014, Taomee in
partnership with Enlight Media, released the fourth installment of
Seer movie franchise, Seer 4: Magic Stone Wars, in major
theatres throughout China.
As of August 7, 2013, the film is estimated to generate
over RMB60 million (approximately US$10.0 million) in box-office sales.
- On July 25 2014, Taomee (Glove
Game) commercially launched Reverse World in App Store and reached No. 26 among the
best-selling apps.
- On August 6, 2014, Taomee (Glove
Game) commercially launched Reverse World English Version in Google
Play through IGG and achieved over 40,000 downloads on the first
day of commercial launch.
Outlook for Third Quarter of 2014
Net revenues of the third quarter of 2014 are expected to be in
the range of US$12.7 million to US$13.2
million, which represents a year-over-year decrease of
approximately 16% to 20%. This forecast reflects the Company's
current and preliminary view of the operating results, and is
subject to future changes.
Non-GAAP Financial Measures
To supplement the financial measures prepared in accordance with
generally accepted accounting principles in the United States, or GAAP, this press release
presents non-GAAP net income attributable to the Company's
shareholders and non-GAAP earnings per ADS by excluding share-based
compensation and impairment charges from net income attributable to
the Company's shareholders and from the calculation of earnings per
ADS. The Company believes these non-GAAP financial measures are
important to help investors understand the Company's operating and
financial performance compare business trends among different
reporting periods on a consistent basis and assess the Company's
core operating results. The use of the above non-GAAP
financial measures has certain limitations. Share-based
compensation charge has been and will continue to be incurred and
is not reflected in the presentation of the non-GAAP financial
measures; it should be considered in the overall evaluation of our
results. None of the non-GAAP measures is a measure of net
income attributable to the Company's shareholders, operating
profit, operating performance or liquidity presented in accordance
with GAAP. We compensate for these limitations by providing the
relevant disclosure of our share-based compensation and impairment
charges in our reconciliations to the most directly comparable GAAP
financial measures, which should be considered when evaluating our
performance. These non-GAAP financial measures should be considered
in addition to financial measures prepared in accordance with GAAP,
but should not be considered a substitute for, or superior to,
financial measures prepared in accordance with
GAAP. Reconciliation of each of these non-GAAP financial
measures to the most directly comparable GAAP financial measure is
set forth at the end of this release.
Conference Call
The Company will host a conference call and live webcast at
8:00 a.m. ET (New York) on Tuesday,
August 26, 2014 (which is 8:00
p.m. in China on Tuesday, August
26, 2014). A brief presentation to accompany the conference
call will be available on the Company's IR website
(http://ir.taomee.com/phoenix.zhtml?c=243417&p=irol-reportsannual)
before the call.
The dial-in details for the live conference call are:
|
Conference
ID:
|
75189253
|
|
U.S.
toll-free:
|
+1-866-519-4004
|
|
Hong Kong
toll-free:
|
800-930-346
|
|
International:
|
+65-6723-9381
|
|
China
Mainland:
|
400-620-8038
|
|
Passcode:
|
Taomee
|
A live webcast and archive of the conference call will be
available on the Investor Relations section of Taomee's website at
http://www.media-server.com/m/p/9zcgqdg8. A telephone replay of the
call will be available after the conclusion of the conference call
at 11:00 a.m. ET on August 26, 2014 through 09:59 a.m. ET, September
3, 2014. The dial-in details for the telephone replay
are:
|
Conference
ID:
|
75189253
|
|
International:
|
+612-8199-0299
|
|
China:
|
400-6322-162
|
About Taomee Holdings Limited
Taomee Holdings Limited ("Taomee" or "the Company") is
China's leader in children's
entertainment and media. Its award winning content offerings are
both engaging and educational, endearing it to children, as well as
to parents and teachers. The Company was founded in 2007 with the
mission to bring joy and inspiration to children. Its popular
character franchises, including SEER and MOLE'S WORLD, are
distributed online via virtual worlds, web games and mobile
applications, as well as through traditional media, including
animated box office films, TV series, books and consumer products,
most notably interactive toys and trading cards. Its online
community regularly achieves top search ranking in Mainland China, Hong
Kong and Taiwan. Taomee has
been consistently recognized for its leadership and innovative
contributions to the children's market, including accolades from
China's Ministry of Culture and
the China Animation Association.
For more information, please visit:
http://www.taomee.com/en_taomee.html
- Visit online virtual world communities at www.61.com
- Watch animations and films at http://v.61.com/
- Download mobile games and applications at http://m.61.com/
- Share with other parents and caregivers at
http://mama.61.com/
Safe Harbor Statements
This press release contains statements that may constitute
"forward-looking" statements within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words or phrases
such as "may," "will," "expect," "anticipate," "aim," "estimate,"
"intend," "plan," "believe," "potential," "continue," "is/are
likely to" or other similar expressions. Among other things, the
management's quotations and outlook information contain
forward-looking statements. These forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements to
be materially different from those expressed or implied by the
forward-looking statements. Potential risks and uncertainties
include, but are not limited to: the Company's business strategies
and initiatives as well as business plans; future business
development, results of operations and financial condition;
expected changes in revenues and certain cost or expense items;
expectations with respect to increased revenue growth and the
Company's ability to sustain profitability; the Company's services
and products under development or planning; the Company's ability
to attract users and further enhance the Company's brand
recognition; and trends and competition in the children's
entertainment and media market and industry, including those for
online entertainment. Further information regarding these and other
risks is included in Taomee's annual report on Form 20-F and other
documents filed with the U.S. Securities and Exchange Commission.
All information provided in this press release is as of the date of
the press release, and the Company undertakes no obligation to
update any forward-looking statements to reflect subsequent
occurring events or circumstances, or changes in its expectations,
except as required under applicable law. Although the Company
believes that the expectations expressed in these forward looking
statements are reasonable, the Company cannot assure you that their
expectations will turn out to be correct, and investors are
cautioned that actual results may differ materially from the
anticipated results.
For further information, please contact
Angela Wang
Taomee Holdings Limited
+86-21-61280056 Ext 8651
ir@taomee.com
|
Taomee Holdings
Limited - Unaudited Consolidated Balance Sheets
|
|
|
In
USD
|
|
In
USD
|
|
June
30
|
|
March
31
|
|
2014
|
|
2014
|
|
ASSETS
|
|
|
|
|
Current
assets:
|
|
|
|
|
Cash and cash
equivalents
|
$
104,352,136
|
|
$ 107,892,293
|
|
Short term
investment
|
-
|
|
2,993,773
|
|
Accounts receivable,
net
|
2,619,406
|
|
2,241,671
|
|
Inventory
|
567,341
|
|
721,685
|
|
Income tax
recoverable
|
1,508,084
|
|
622,478
|
|
Due from related
parties
|
2,348,378
|
|
2,296,576
|
|
Prepayments and other current assets
|
5,766,358
|
|
4,262,809
|
|
Deferred tax assets, current
|
4,128,238
|
|
4,128,708
|
|
Total current
assets
|
121,289,941
|
|
125,159,993
|
|
|
|
|
|
Investment in equity
investees
|
14,074,861
|
|
14,255,765
|
|
Property and
equipment, net
|
1,910,457
|
|
1,826,746
|
|
Prepayments for land
use rights and building purchase
|
2,989,312
|
|
2,989,652
|
|
Acquired intangible
assets
|
1,229,906
|
|
1,057,541
|
|
Other
assets
|
2,717,664
|
|
2,346,760
|
|
Total
assets
|
$ 144,212,141
|
|
$ 147,636,457
|
|
|
|
|
|
LIABILITIES
AND EQUITY
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
Accounts payable
|
$
2,067,617
|
|
$
2,350,381
|
|
Advance from customers
|
9,797,917
|
|
8,380,110
|
|
Due to related parties
|
461,337
|
|
313,381
|
|
Deferred revenue
|
12,048,012
|
|
12,587,980
|
|
Deferred tax liabilities, current
|
1,742,161
|
|
1,742,359
|
|
Accrued expenses and other current liabilities
|
5,314,824
|
|
5,451,834
|
|
Total current
liabilities
|
31,431,868
|
|
30,826,045
|
|
|
|
|
|
Equity
|
|
|
|
|
Taomee Holdings
Limited shareholders' equity
|
|
|
|
|
Ordinary shares
($0.00002 par value; 875,000,000
shares authorized; 747,974,297 and 745,555,104
shares issued; 708,000,756 and 719,230,564
outstanding as of June 30, 2014 and March 31, 2014,
respectively)
|
14,960
|
|
14,911
|
|
Treasury stock (at cost)
|
(11,011,879)
|
|
(7,212,059)
|
|
Additional paid-in capital
|
75,280,861
|
|
74,716,506
|
|
Retained earnings
|
44,530,764
|
|
45,350,696
|
|
Accumulated other comprehensive income
|
3,774,096
|
|
3,791,133
|
|
Taomee Holdings
Limited shareholders' equity
|
112,588,802
|
|
116,661,187
|
|
Noncontrolling
interests
|
191,471
|
|
149,225
|
|
Total
equity
|
$
112,780,273
|
|
$
116,810,412
|
|
|
|
|
|
TOTAL LIABILITIES
AND EQUITY
|
$
144,212,141
|
|
$ 147,
636,457
|
|
Taomee Holdings
Limited - Unaudited Consolidated Statements of Operations
|
|
|
|
In USD, except for
share data
For three months
ended
|
|
|
June
30,
|
|
March
31,
|
|
June
30,
|
|
|
2014
|
|
2014
|
|
2013
|
|
Revenues:
|
|
|
|
|
|
|
|
Online business, net
|
|
$
8,385,495
|
|
$ 9,373,070
|
|
$ 8,635,407
|
|
Offline business, net
|
|
2,159,864
|
|
2,323,759
|
|
3,404,026
|
|
Total net
revenues
|
|
10,545,359
|
|
11,696,829
|
|
12,039,433
|
|
|
|
|
|
|
|
|
Cost of
services
|
|
|
|
|
|
|
|
Online business
|
|
(1,697,608)
|
|
(1,929,671)
|
|
(1,767,903)
|
|
Offline business
|
|
(1,332,060)
|
|
(1,223,634)
|
|
(1,742,080)
|
|
Total cost of
services
|
|
(3,029,668)
|
|
(3,153,305)
|
|
(3,509,983)
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
7,515,691
|
|
8,543,524
|
|
8,529,450
|
|
|
|
|
|
|
|
|
Operating income
(expenses):
|
|
|
|
|
|
|
|
Product development
|
|
(3,449,780)
|
|
(3,202,027)
|
|
(3,309,258)
|
|
Sales and marketing
|
|
(2,920,316)
|
|
(2,039,257)
|
|
(2,381,940)
|
|
General and administrative
|
|
(3,072,832)
|
|
(3,642,791)
|
|
(2,950,988)
|
|
Impairment loss
on
acquired intangible
assets
|
|
-
|
|
(116,114)
|
|
(865,910)
|
|
Other operating income
|
|
147,346
|
|
984,567
|
|
448,631
|
|
Total operating
expenses
|
|
(9,295,582)
|
|
(8,015,622)
|
|
(9,059,465)
|
|
|
|
|
|
|
|
|
Income
(Loss) from operations
|
|
(1,779,891)
|
|
527,902
|
|
(530,015)
|
|
|
|
|
|
|
|
|
Interest
income
|
|
639,340
|
|
592,635
|
|
631,997
|
|
Other income
(expenses), net
|
|
109,650
|
|
(583,216)
|
|
188,104
|
|
Income/(Loss)
before income taxes and share of profit/(loss) in equity method
investments
|
|
(1,030,901)
|
|
537,321
|
|
290,086
|
|
|
|
|
|
|
|
|
Income tax
benefit/(expense)
|
|
374,068
|
|
(92,286)
|
|
141,211
|
|
|
|
|
|
|
|
|
Share of
profit/(loss) in equity method investments
|
|
(180,905)
|
|
42,098
|
|
(73,195)
|
|
Net
income/(loss)
|
|
(837,738)
|
|
487,133
|
|
358,102
|
|
|
|
|
|
|
|
|
Less: Net
income/(loss) attributable to non-controlling
interest
|
|
(17,806)
|
|
(9,586)
|
|
13,740
|
|
|
|
|
|
|
|
|
Net income/(loss)
attributable to holders of ordinary shares
|
|
$ (819,932)
|
|
$
496,719
|
|
$
344,362
|
|
Earnings/(Loss)
per ADS
|
|
|
|
|
|
|
|
-Basic
|
|
$
(0.02)
|
|
$
0.01
|
|
$
0.01
|
|
-Diluted
|
|
$
(0.02)
|
|
$
0.01
|
|
$
0.01
|
|
Weighted average
number of shares used in calculation
|
|
|
|
|
|
|
|
- Basic
|
|
710,655,033
|
|
722,760,411
|
|
731,446,938
|
|
- Diluted
|
|
710,655,033
|
|
737,488,586
|
|
744,821,217
|
|
Weighted average
number of ADS used in calculation
|
|
|
|
|
|
|
|
- Basic
|
|
35,532,752
|
|
36,138,021
|
|
36,572,347
|
|
- Diluted
|
|
35,532,752
|
|
36,874,429
|
|
37,241,061
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Taomee Holdings
Limited - Unaudited Consolidated Other Comprehensive Income
|
|
|
In
USD,
For three months
ended
|
|
June
30,
2014
|
March
31,
2014
|
June
30,
2013
|
|
Net
income/(loss)
|
$ (837,738)
|
$
487,133
|
$
358,102
|
|
Other comprehensive
income/(loss), net of tax
|
|
|
|
|
Foreign currency
translation adjustments
|
(17,037)
|
( 551,622)
|
822,028
|
|
|
|
|
|
Comprehensive
income/(loss)
|
(854,775)
|
(64,489)
|
1,180,130
|
|
Comprehensive
income/(loss) attributable to noncontrolling interest
|
(17,806)
|
(9,586)
|
13,740
|
|
|
|
|
|
Comprehensive
income/(loss) attributable to Taomee Holdings Limited
|
$
(836,969)
|
$
(54,903)
|
$
1,166,390
|
|
|
|
|
|
Taomee Holdings
Limited - Reconciliation of Non-GAAP and GAAP Results
|
|
|
|
In USD, except for
share data
For three months
ended
|
|
|
June
30,
|
|
March
31,
|
|
June
30,
|
|
|
2014
|
|
2014
|
|
2013
|
|
Reconciliation
from Non-GAAP measures to GAAP measures
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP net
income/(loss) attributable to holders of ordinary
shares
|
|
$ (235,964)
|
|
$ 1,183,394
|
|
$ 1,551,513
|
|
Share-based
compensation
|
|
(583,968)
|
|
(570,561)
|
|
(341,241)
|
|
Impairment loss on
acquired intangible assets
|
|
-
|
|
(116,114)
|
|
(865,910)
|
|
GAAP net
income/(loss) attributable to holders of ordinary
shares
|
|
$ (819,932)
|
|
$
496,719
|
|
$
344,362
|
|
|
|
|
|
|
|
|
Non-GAAP
earnings/(loss) per ADS
|
|
|
|
|
|
|
|
-Basic
|
|
$
(0.01)
|
|
$
0.03
|
|
$
0.04
|
|
-Diluted
|
|
$
(0.01)
|
|
$
0.03
|
|
$
0.04
|
SOURCE Taomee Holdings Limited
