Global Woes Don’t Hamper Longtop’s China Growth

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The global financial crisis does not seem to be slowing growth for Chinese financial services software provider Longtop Financial Technologies Limited, as it today announced unaudited financial results for the quarter ended December 31, 2008.

This final quarter for last year is actually its third quarter of its fiscal year ending March 31, 2009. During that period, total revenues hit USD32.9 million, an increase of 79.3% year-on-year, and net income was USD16.5 million, an increase of 57.7% year-on-year.

"I’m pleased to report another outstanding quarter in which we exceeded our top and bottom line guidance. Longtop is able to perform well even in a challenging economic environment because our software solutions and services are indispensable business technology for our customers and generate recurring revenue and profits; we serve a diversi...

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