ChinaCache Q2 gross profit up 44.4%

ChinaCache International Holdings Ltd announced Tuesday that its gross profit in the second quarter increased to 62.1 million yuan ($9.8 million), up 44.4 percent year-on-year, or 10.3 percent from the previous quarter.

The solutions provider of internet content saw its net revenue up 36.3 percent year-on-year to 197.5 million yuan in the second quarter, it said in the unaudited condensed consolidated financial results for its second quarter ending June 30, 2012.

The Nasdaq-listed company's gross margin in the second quarter was 31.4 percent, compared to 30.9 percent in the previous quarter and 29.7 percent in the corresponding quarter in 2011.

Its net income in the second quarter came to 4.3 million yuan, compared to 2.5 million yuan in the first quarter, and a net loss of 5.7 million yuan in the same period in 2011.

ChinaCache expects to generate a total net revenue ranging from 215 million yuan to 220 million yuan for the third quarter of 2012.

Wangsu Science & Technology, ChinaCache's main domestic rival, said in July that its net profit attributable to shareholders went up 78.70 percent to 35.46 million yuan in the first half of 2012.