Yintech Investment Holdings Limited (YIN) Reports Q1 Loss of $0.06 on Revenues of $42.8M

Yintech Investment Holdings Limited (NASDAQ: YIN) reported Q1 EPS of ($0.06). Revenue for the quarter came in at $42.8 million, versus $0 reported last year.

First Quarter 2018 Financial Results

• Revenues for the quarter were RMB268.5 million (US$42.8 million), compared to RMB1,104.6 million in the same quarter last year and RMB386.1 million in the previous quarter. The decreases were mainly due to the decreases in net commissions and fees and other revenues.
• Net commissions and fees for the quarter were RMB242.6 million (US$38.7 million), compared to RMB1,053.5 million in the same quarter last year and RMB286.7 million in the previous quarter.
• Net commissions and fees from commodities services for the quarter were RMB197.5 million (US$31.5 million), a decrease of 27.8% from the previous quarter, primarily as a result of the decrease in customer trading volume. Customer trading volume was RMB499.5 billion (US$79.6 billion) during the quarter, a decrease of 30.3% from the previous quarter.
• Net commissions and fees from securities services for the quarter were RMB45.1 million (US$7.2 million), an increase of 246.9% from the previous quarter, mainly due to the consolidation of Forthright Securities and an organic growth of securities advisory and securities information platform business.
• Effective fee rate (representing net commissions and fees from commodities services as a percentage of customer trading volume) for the quarter was 0.040%, compared with 0.076% in the same quarter last year and 0.038% in the previous quarter.
• Expenses for the quarter were RMB309.1 million (US$49.3 million), a decrease of 51.0% from RMB630.4 million in the same quarter last year and a decrease of 26.6% from RMB421.4 million in the previous quarter. The decreases were mainly due to cost control measures implemented on advertising and promotion expenses, as well as variable components of employee compensation and benefits.
• Net loss for the quarter was RMB63.1 million (US$10.1 million), compared to net income of RMB376.1 million in the same quarter last year and net loss of RMB63.6 million in the previous quarter.
• Net loss attributable to Yintech for the quarter was RMB50.3 million (US$8.0 million), compared to net income of RMB381.3 million in the same quarter last year and net loss of RMB54.6 million in the previous quarter.
• Diluted loss per ADS for the quarter was RMB0.69 (US$0.11), compared to diluted earnings per ADS of RMB5.14 in the same quarter last year and diluted loss per ADS of RMB0.72 in the previous quarter.
• Non-GAAP net loss attributable to Yintech for the quarter was RMB29.1 million (US$4.6 million), compared to net income of RMB397.4 million in the same quarter last year and net income of RMB61.4 million in the previous quarter.
• Non-GAAP diluted loss per ADS for the quarter were RMB0.40 (US$0.06), compared with non-GAAP diluted earnings per ADS of RMB5.36 in the same quarter last year and non-GAAP diluted earnings per ADS of RMB0.81 in the previous quarter.

For earnings history and earnings-related data on Yintech Investment Holdings Limited (YIN) click here.

You May Also Be Interested In

• Visa (V) stock rises as Q2 earnings, revenue come ahead of estimates
• New Oriental Education (EDU) Misses Q1 EPS by 12c ; Offers Guidance
• Lithia Motors & Driveway (LAD) Misses Q1 EPS by 180c