Dallas, Texas 05/16/2014 (FINANCIALSTRENDS) –E-Commerce China Dangdang Inc. (ADR) (NYSE:DANG) recently reported its 1Q14 earnings for a quarter ended March 31, 2014. The company reported total net revenues of $279.2 million (RMB 1,735.8 million) for 1Q14 which marks 30.1% increased from 1Q13. The increase was largely attributed to 33.3% year over year increase in Media Product revenue which was recorded at $185.3 million (RMB 1,151.7 million) during 1Q14. General Merchandise revenue grew 25.5% and other revenue grew 16%, on a year over year basis, to $83.1 million (RMB 516.7 million) and $10.9 million (RMB 67.4 million), respectively.
1Q14 gross margin was recorded at 18.2%, up from 17.2% recorded during 1Q13 and 17.6% during 4Q13. The company reported 1Q14 operating income of $1.6 million (RMB 10.1 million) which accounted for 0.6% of total net revenues as compared to an operating loss of RMB 80.4 million (negative 6% of total net revenues) reported during 1Q13.
E-Commerce China Dangdang Inc. (ADR) (NYSE:DANG) reported 1Q14 net income of $0.3 million (RMB 2 million) which accounted for 0.1% of total net revenues as compared to a net loss of RMB 72.7 million (negative 5.5% of total net revenues) reported during 1Q13.
The company reported 8.6 million active customers during 1Q14 which also included addition of around 2.8 million new customers. Active customers and new customers increased 16% and 17%, respectively, on a year over year basis. Total orders for 1Q14 were reported at 16.4 million which suggests an 11% increase from 1Q13.
E-Commerce China Dangdang Inc. (ADR) (NYSE:DANG) reported 103% year over year increase in Gross Merchants Value which was reported at $190.8 million (RMB 1,186 million) during 1Q14.
On Thursday, the stock closed at $9.87, losing 14.47% from its previous close. The stock has traded flat year to date with just about 0.2% gain.