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China Finance Online Net Income Down 21% In Q2
Chinese online financial information provider China Finance Online (Nasdaq: JRJC) reported second quarter results on Monday. Net revenues fell four percent quarter on quarter to US$1.84 million. Net income for the second quarter was $1.01 million, down 21 percent from $1.28 million in the first quarter 2005. Gross margin was 94 percent, in line with last quarter. Profit margin was 55 percent, down from 66 percent in the first quarter. China Finance Online attributed the decline to the persistently weak performance of the Chinese stock market in the second quarter.
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