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CDC Global Services Revenue Falls 17.0%

April 21 2011

CDC Corp. (NASD: CHINA) today announced revenue for its CDC Global Services division fell 16.7 percent in its fiscal fourth quarter ended Dec. 31, 2010. Revenue for the segment was $14.6 million for the quarter compared with $17.6 million in the year-ago quarter.

The Hong Kong-based firm’s global services divisions provides information technology services including project management, staffing, business process outsourcing and more.

“Last year was one of transition and now we are focused as a China-centric outsourcing and consulting company with market presence largely in the U.S. and Australia,” said CK Wong, CEO of CDC Global Services. “We also are focusing on our higher margin business and we expect to see better traction and improvement in 2011.”

For full-year 2010, CDC Global Services reported revenue of $62.7 million, down 16.5 percent from the previous year.

Total fourth-quarter revenue at CDC Corp. was $83.1 million -- up 0.1 percent from the year-ago quarter. The company posted a net loss of $23.0 million compared to a net loss of $4.7 million in the fourth quarter of last year.

Total full-year 2010 revenue at CDC was $317.8 million, down 0.7 percent from the previous year. The company posted a net loss of $40.6 million in 2010 compared with net income of $11.9 million in the previous year.

In addition to CDC Global Services, other divisions of CDC include CDC Software, CDEC Games and China.com.


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