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Internet travel services company Ctrip.com International Ltd.announced its unaudited financial results for the quarter endedMarch 31, 2011, and stated that revenues rose. For the first quarter of 2011, Ctrip reported total revenues ofCNY814 million, representing a 30% increase from the same period in2010. Total revenues for the first quarter of 2011 decreased by 3%from the previous quarter. However, while the company's net revenues were CNY765 million forthe first quarter of 2011, up 30% year-on-year, for the secondquarter of 2011, the company forecasts net revenue growthyear-on-year to only be 15%-20%. Also, Ctrip reported that the effective tax rate for the firstquarter of 2011 was 21%, increasing from 12% in the same periods of2010, primarily due to certain tax benefits granted by the localtax bureau in the first quarter of 2010. The effective tax rate forthe first quarter of 2011 increased from 19% in the previousquarter, primarily due to the increase in the amount of nontax-deductible share-based compensation as a percentage to ourincome as a whole. Gross margin was 78% for the first quarter of 2011, remainedconsistent with that in the same period in 2010. Net incomeattributable to Ctrip's shareholders was CNY235 million in thefirst quarter of 2011, up 23% year-on-year. Hotel reservation revenues amounted to CNY310 million for the firstquarter of 2011, representing a 23% increase year-on-year,primarily driven by an increase of 20% in hotel reservation volumeand an increase of 3% commission per room night year-on-year. Hotelreservation revenues decreased by 14% quarter-on-quarter due toseasonality. Air ticket booking revenues for the first quarter of 2011 wereCNY326 million, representing a 23% increase year-on-year, primarilydriven by a 20% increase in air ticketing sales volume and a 3%increase in commission per ticket year-on-year. Packaged-tourrevenues for the first quarter of 2011 were CNY125 million,representing a 74% increase year-on-year due to the increase ofleisure travel volume. Corporate travel revenues for the first quarter of 2011 were CNY31million, representing a 20% increase year-on-year, primarily drivenby the increased corporate travel demand from business activities.Corporate travel revenues decreased 12% quarter-on-quarter due tothe decreased business activities during Chinese New Year. As of March 31, 2011, the company's balance of cash, restrictedcash and short-term investment was CNY3.6 billion. Related Links:. The e-commerce company in China offers quality products such as Indoor LED Screens Manufacturer , LED Advertising Display Board Manufacturer, and more. For more , please visit Large LED Screens today!
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