Dragon Capital Group Corp. Announces Financial Results for the Third Quarter and Nine Months Ended September 30, 2014
January 05, 2015 at 02:00 pm
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Dragon Capital Group Corp. announced financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total revenues of $5.0 million compared to revenues of $4.8 million recorded in the third quarter of 2013. Income from continuing operations in the quarter was $160,874 compared to income from continuing operations of $85,763 recorded in the third quarter of 2013. The increase in income was mainly attributable to an increase of general sales revenue and stable cost of sales. Net income attributable to the company in the third quarter of 2014 was $329,700 inclusive of a $3,356 loss from discontinued operations compared to net income attributable to the company of $38,942 inclusive of a $9,159 loss from discontinued operations. In the third quarter of 2014 the company's operations resulted in a income of $0.00 per basic and diluted share on 896.4 million weighted average shares outstanding compared to earnings per basic and diluted share of $0.00 on 492.7 million weighted average shares recorded in the third quarter of 2013.
For the first nine months of 2014 total revenues were $14.3 million compared to $14.1 million in the first nine months of 2013. For the first nine months of 2014 the company's operations resulted in a net income attributable to the company of $210,537, inclusive of a $117,904 loss from discontinued operations. This compared to net income of $158,378 inclusive of a $15,155 loss from discontinued operations recorded in the first nine months of 2013. Earnings per basic and diluted share for the first nine months rounded to $0.00 in both periods on 896.4 million and 492.7 weighted average shares respectively.
Dragon Capital Group, Corp. (Dragon Capital) is a holding company. The Company holds interests in various emerging technology enterprises operating in China. It functions as an incubator, offering support in various functions of general business consulting, formation of joint ventures, access to capital markets, consulting regarding merger and acquisition transactions, business valuation and revenue growth strategies. It focuses on software solutions for businesses, as well as sale of computer and electronic component sales. Its subsidiaries include Dragon Venture Corporation, Dragon Venture (Shanghai) New Energy Technology Development Co., Ltd. (Dragon Shanghai), Chengdu Imaging Soft Co., Ltd and Shanghai Yazheng Information Technology Co., Ltd. (Shanghai Yazheng). Dragon Shanghai provides operational support for the operating entities that the Company or its subsidiaries, have formed, or acquired. Shanghai Yazheng provides services for software development projects in China.