UPDATE 1-CDC posts wider Q4 loss from cont ops, shares down

Mon Apr 20, 2009 10:44pm BST
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* Q4 loss/shr $0.78 vs $0.88 yr ago

* Q4 loss/shr from cont ops $0.79 vs $0.24 yr ago

* Q4 rev $96.2 mln vs est. $99.2 mln

* Shares fall 11 pct after the bell

April 20 (Reuters) - Chinese software company CDC Corp (CHINA.O: Quote, Profile, Research) posted a wider fourth-quarter loss from continuing operations, hurt by impairment charges and a drop in software revenue, sending its shares down 11 percent after the bell.

The company, which develops enterprise software, online games and Internet portals, posted a net loss of $84 million, compared with a net loss of $94 million a year ago.

Revenue for the quarter fell 10 percent to $96.2 million. Software revenue fell 22 percent to $53.5 million.

Loss from continuing operations was $84.3 million, wider than the $26.2 million it reported a year earlier.

The company recorded a goodwill and intangible asset impairment charge of $49 million and an impairment charge associated with its investments in available for sale securities of $8.5 million for the quarter.  Continued...

 

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