SOURCE: China INSonline Corp.

February 17, 2010 08:00 ET

China INSOnline Reports Second Quarter Results

BEIJING--(Marketwire - February 17, 2010) -   China INSOnline Corp. (NASDAQ: CHIO)

  • Net Income Up 33% for the Period
  • Revenues Edge Higher Across Two of Three Segments
  • Six Month Net Income Is $0.11 per Share

China INSOnline Corp. (NASDAQ: CHIO), which operates, one of China's leading insurance services web portals, reported today that net income in the second quarter of the current fiscal year increased 33% to $1,166,738 or $0.03 per share, from $752,905, or $0.02 per share, in same period last year. Net revenues increased approximately 3.0% to $3,656,145 from $3,580,301 in the second quarter of the current fiscal year.

Comparing six month results, the company reported that net income for the six months ending December 31, 2009 increased 33% from $3,272,794 to $4,287,355. The increase in net profit for the first six months over the comparable period came despite a $402,280 amortization expense for the company's software system recorded in the second quarter. Revenue for the six month period decreased approximately 3.0% from $9,033,655 to $8,783,556 with the company citing unfavorable market conditions for the lack of growth in the insurance agency segment. A copy of the complete second quarter results can be found on the company's website at

In announcing the results of the company, CEO Ms. Betty Xu stated, "Our results for this quarterly period reflect our ability to continue to provide an array of high margin services to the insurance industry in China that consistently deliver profits to our shareholders. We will continue to focus on high margin opportunities with our online platform and continue focus on creating greater shareholder value going forward."

About China INSOnline Corp.

China INSOnline Corp., incorporated in Delaware and headquartered in Beijing, is a licensed insurance agency in The People's Republic of China. Representing major insurance underwriting firms in China, the Company offers online automobile, property and life insurance services through its industry web portal, The Company's online platform also provides consumers, agents and insurance companies with online transaction capabilities, advertising, online inquiry, news circulation, statistical analysis and software development services. For more information, please visit

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations or beliefs, including, but not limited to, statements concerning the Company's operations, financial performance and condition. For this purpose, statements that are not statements of historical fact may be deemed to be forward-looking statements. The Company cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, but not limited to, the impact of competitive products, pricing and new technology; changes in consumer preferences and tastes; and effectiveness of marketing; changes in laws and regulations; fluctuations in costs of production, and other factors as those discussed in the Company's reports filed with the Securities and Exchange Commission from time to time. In addition, the Company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.

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