Chinese financial services software firm Longtop Financial Technologies Limited announced its unaudited financial results for the quarter ended September 30, 2009, which is the second quarter of its fiscal year ending March 31, 2010, and showed increases in both revenue and profit.
Total revenues for the quarter ended September 30, 2009, were USD42.8 million, an increase of 52.0% year-on-year from USD28.2 million in the corresponding year ago period, and exceeded company guidance of USD37.5 million. Software development revenues of USD37.0 million increased year-on-year by 56.9% and exceeded company guidance of USD34.0 million.
Adjusted net income for the quarter ended September 30, 2009, of USD21.4 million or USD0.40 per fully diluted share increased 32.0% as compared to adjusted net income of USD16.2 million in the corresponding year ago ...
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