兰亭集势公布2013年第四季度及全年业绩

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$兰亭集势(LITB)$ (LightInTheBox)今天发布了未经审计的 2013 年第四季度财报和 2013 年年度财报。

四季度业绩

在 2013 年第四季度,该公司的净收入为 7880 万美元,同比增长 21.6%。此前,兰亭集势给出的业绩指引是 7500 万至 7700 万美元。

第四季度净亏损560万美元,上年同期净利润110万美元。

在第四季度,该公司来自运营的正向现金流为 377 万美元,前年同期为 186 万美元。

重复购买顾客所贡献的收入占据了总收入的 37%,前年同期为 28%。


公司董事长和首席执行官郭去疾说:“我们很高兴地看到季度净收入超过了我们的业绩指引,这主要来自于服装品类的超预期表现和移动平台的强劲销量。第四季度,在成功拓展了成衣(ready-to-wear)产品线后,我们的服装品类恢复增长,并提升了海外营销效果。”在 2013 年第四季度,得益于成衣产品线的成功,兰亭集势服装品类的收入实现了 12.9% 的年度增长。

2014年Q1业绩预期

预计2014年Q1营收同比增6% - 9%,至 $78 million and $80 million。

2013全年业绩

在 2013 年全年,兰亭集势净收入为 2.924 亿美元,比 2012 年增长 46.2%。

全年净亏损480万美元,上年同期净亏损420万美元。

毛利率从前年的 41.8% 增长到 43.5%。

全年,兰亭集势移动平台的收入增速是桌面端的五倍。



此外,根据兰亭集势披露的现金流数据,2013 年第四季度该公司用于收购的支出是 100 万美元。在该季度,兰亭集势收购了美国社交电商网站 Ador,并引进了来自亚马逊的全球高管。

在 2013 年年底,兰亭集势宣布了股票回购计划:在 2014 年 12 月 15 日前回购价值最多 2000 万美元的美国存托股票(American Depositary Shares)。

BEIJING--(BUSINESS WIRE)--Feb. 26, 2014-- LightInTheBox Holding Co., Ltd. (NYSE: LITB) (“LightInTheBox” or the “Company”), a global online retail company that delivers products directly to consumers around the world, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2013.

Fourth Quarter 2013 Highlights

Net revenues were $78.8 million, an increase of 21.6% from $64.8 million in the same quarter of 2012, primarily driven by an increase of 42.5% in total number of customers1 served in the fourth quarter of 2013.

Net loss was $5.6 million, compared to a net income of $1.1 million in the same quarter of 2012.

Revenue attributed to repeat customers accounted for 37% of total revenue in the quarter.

Net cash provided by operating activities was $3.8 million for the three months ended December 31, 2013, compared to $1.9 million in the same quarter of 2012.

Full Year 2013 Highlights

Net revenues were $292.4 million, an increase of 46.2% from $200.0 million in the prior year, primarily driven by an increase of 73.1% in total number of customers served in 2013.

Gross margin increased by 170 basis points to 43.5% from 41.8% in the prior year.

Net loss was $4.8 million, compared to a net loss of $4.2 million in the prior year.

Mobile revenue grew more than five times faster than PC business in 2013.

Mr.Alan Guo, Chairman and CEO of LightInTheBox commented, “We are pleased that our total net revenues came in above our guidance, supported by better-than-expected performance from our apparel category and from strong mobile commerce sales. In the fourth quarter, we reignited growth in our apparel category as we successfully diversified our product offerings in ready-to-wear apparel and increased our marketing efforts to overseas regions.”

“We are continuing to build a uniquely positioned, global cross-border, e-commerce platform. We are investing in a series of platform capabilities that allow us to operate locally on a global scale, including supply chain management services, fulfillment and transportation management, and localized merchandising, content, customer service, and payment capabilities. Finally, we remain intensely data driven and will continue to leverage technology to manage complexity and identify opportunities. As we move into 2014, we will continue to focus on leveraging this platform on behalf of manufacturers and suppliers based in China,” concluded Mr. Guo.

(1) A customer is defined as a customer account that has purchased at least once from the Company during the relevant period.

Fourth Quarter and Full Year 2013 Financial Results

Net revenues increased 21.6% to $78.8 million for the fourth quarter of 2013, and increased by 46.2% to $292.4 million for the full year 2013. The increases in the quarter were driven by better-than-expected performance from the apparel category and the contribution of the mobile commerce business. Total orders grew 61.5% to 2 million in the fourth quarter, while average order size declined based on changes in the product mix and softness in the wedding business. The total number of customers purchasing in the quarter increased 42.5% to 1.6 million, while repeat customer orders accounted for 37% of the total revenue, compared to 28% in the same quarter of 2012.

During the quarter, revenue in the apparel category grew 12.9% year over year to $21.1 million, which reflected the success in expanding product offerings with ready-to-wear fashion products. As a percentage of total revenues, apparel revenue was 26.8% in the fourth quarter of 2013 as compared to 28.8% in the same quarter of 2012.

Revenues generated from electronics and other general merchandise increased by 25.1% to $57.7 million in the fourth quarter of 2013. The Company is seeing significant growth in particular in mobile accessories and is optimistic about extending this offering both in terms of products and geographies.

Geographically, Europe remained the largest market with revenues of $51.4 million, representing an increase of 27.7%. As a percentage of total revenues, revenues in Europe were 65.3%, up from 62.2% in the same quarter of 2012.

Revenues in South America increased by 25.3% to $6.3 million and constituted 8.0% of total revenues in the quarter while in North Americarevenues were $13.1 million, up 8.6% year over year, representing 16.7% of total revenue this quarter.

Gross profit for the fourth quarter of 2013 was $30.8 million, representing an increase of 12.3% from $27.4 million in the same quarter of 2012. For full year 2013, gross profit was $127.2 million in 2013, representing an increase of 52.2% from $83.5 million in the prior year. Gross margin decreased to 39.1% from 42.3% in the same quarter of 2012. This decrease was due largely to the change in product mix within the apparel category. However,on a full year basis, gross margin improved to 43.5% in 2013 from 41.8% in 2012, as the Company did not see shifts in apparel product mix until later in the year.

Total operating expenses in the fourth quarter of 2013 increased by 43.9% to $36.9 million from $25.7 million in the same quarter of 2012. As a percentage of total net revenues, total operating expenses increased to 46.9% from 39.6% in the same quarter of 2012.

Fulfillment expenses increased 48.2% to $4.7 million in the fourth quarter of 2013 from $3.2 million in the same quarter of 2012, primarily reflecting the increase in sales volume and number of orders fulfilled. As a percentage of total net revenues, fulfillment expenses increased to 6.0% from 4.9% in the same quarter of 2012. The increase was a result of expansion of the fulfillment facilities in China.

Selling and marketing expenses increased by 59.0% to $24.7 million in the fourth quarter of 2013 from $15.5 million in the same quarter of 2012, reflecting the Company’s efforts in growing its customer base. While selling and marketing expenses for the fourth quarter of 2013 increased by 59.0%, the number of customers served by the Company increased by 42.5% and the number of total orders increased by 61.5% respectively over the same period of the prior year. As a percentage of total net revenues, selling and marketing expenses increased to 31.4% from 24.0% in the same quarter of 2012, due to a fall in average order size based on changes in the product mix. The Company continues to believe that its selling and marketing expenses as a percentage of total net revenues will decrease in the long term as the Company achieves greater economies of scale and utilize its selling and marketing channels more efficiently.

General and administrative expenses increased 8.2% to $7.5 million in the fourth quarter of 2013 from $7.0 million in the same quarter of 2012, reflecting the growth of the Company’s business. As a percentage of total net revenues, general and administrative expenses were 9.6%, down from 10.8% in the same quarter of 2012.

Total operating expenses for the year were$132.1 million, an increase of 53.9% from prior year. This was mainly due to increase in selling and marketing costs associated with increasing number of customers and orders.

Loss from operations in the fourth quarter of 2013 increased to $6.2 million, compared to an operating profit of $1.7 million in the same quarter of 2012. For the full year 2013, loss from operations increased to $5.0 million, compared to loss of $2.3 million in the prior year.

Net loss was $5.6 million in the fourth quarter of 2013,compared to a net income of$1.1 million in the same quarter of 2012.

For the full year, net loss was $4.8 million, compared to a net loss of$4.2 million in the prior year.

Adjusted net loss (non-GAAP) (2), which excludes the impact of share-based compensation expense, was $5.1 million in the fourth quarter of 2013, compared to an adjusted net income (non-GAAP) of $1.5 million in the fourth quarter of 2012.

(2) Adjusted net income (loss) is a non-GAAP measure, which is defined as net income (loss) excluding share-based compensation expenses.

Net loss per ADS was $0.11, compared total net income per ADS of$0.01 in the fourth quarter of 2012. Each ADS represents two ordinary shares.

For the quarter ended December 31, 2013, the Company’s weighted average number of ADS used in computing loss per ADS was 49,528,449.

As of December 31, 2013, the Company had cash and cash equivalents, term deposit and restricted cash of $105.1 million, compared to$21.2 million as of December 31, 2012.

Net cash provided by operating activities was $3.8 million for the quarter ended December 31, 2013,compared to $1.9 million in the same quarter of 2012, in part due to a $2.6 million increase in customer order backlog.

Business Outlook

For the first quarter of 2014, the Company expects its net revenues to be between $78 million and $80 million, representing a year-over-year growth rate of approximately 6% to 9%. The Company expects that the rate of its year over year revenue growth will increase starting in second quarter of 2014. These forecasts reflect the Company’s current and preliminary view on the market and operational conditions, which are subject to change.

全部讨论

拥挤的乐园2014-02-27 14:32

亏损+增长率这么点,好意思享受这么高市盈率么。

鹰眼形态忍者狙击手2014-02-27 11:53

兰亭集势总是雪球的批判对象,为什么?