21Vianet Slips To Loss; Stock Tumbles - Quick Facts

(RTTNews) - China-based 21Vianet Group Inc. (VNET) Tuesday reported second-quarter net loss to common stock of 42.3 million renminbis, or $7 million. This compares with a net profit of 18 million renminbis last year.

On a per share American Depositary Share, or ADS basis, net loss for the quarter was 0.72 renminbis, or $0.12. This compares with net earnings of 0.30 renminbis per ADS last year.

Results for the recent quarter included a loss of 40.3 million renminbis, or $6.6 million, related to the change in the fair value of contingent purchase consideration payable, among other items.

Excluding items, adjusted earnings for the quarter were 19 million renminbis, or $3 million, compared with 37.6 million renminbis in the prior year. On a per ADS basis, adjusted earnings were 0.30 renminbis, or $0.05. This compares with adjusted earnings of 0.66 renminbis per ADS a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.08 per ADS for the quarter. Analysts' estimates typically exclude special items.

Net revenue for the quarter grew to 471.1 million renminbis, or $76.8 million, up from 364.5 million renminbis last year. Analysts estimated revenue of $76.37 million.

For the third quarter, the company expects net revenues of 508 million renminbis ($83 million) to 520 million renminbis ($85 million). Analysts estimate revenue of $84.28 million.

21Vianet Group, Inc. provides carrier-neutral Internet data center services in the People's Republic of China.

The company's stock closed Tuesday at $13.99, down $0.12 or 0.85%, on a volume of 506 thousand shares on the Nasdaq. In after hours, the stock dropped $1.04 or 7.43%.