Editorial Summary

Chinese human resources service provider 51job (Nasdaq: JOBS) recorded revenues of $33.7 million in the first quarter of 2008, an increase of 17.9 percent year-on-year and 15 percent quarter-on-quarter. Net income for the quarter was $3.2 million, down 30.8 percent year-on-year and up 10 percent quarter-on-quarter. Print advertising revenues increased 7.8 percent year-on-year to $17.5 million while online recruitment service revenues reached $11.2 million after increasing 27.4 percent from the first quarter of 2007. 51job had 60,461 unique employers using its online recruitment services in the first quarter, up 25.8 percent year-on-year. Other HR revenues increased 42.7 percent year-on-year to $4.3 million. 51job is targeting second quarter revenues between $32.1 million and $34.2 million.

51job said that it expects the earthquake in Sichuan to impact operations and customer demands in certain areas. 51job also announced that co-founder Normal Liu will be leaving the company at the end of May to pursue other interests.