BVI Company Financial News

Talon Metals Corp. published financial report for the year ended December 31, 2009. For this period, the BVI company reported net loss of $1,841,962 or $0.07 per share – basic and diluted. In 2008, net loss made $6,833,161 or $0.25 per share. This year, net loss was primarily due to operating expenses, partially covered by gains on investments totaling approximately $1.4 million.

For the three month period ended December 31, 2009 Talon reported net loss of $510,769 or $0.02 per share – compared to net loss of $6,833,161 or $0.25 per share (basic and diluted) in 2008. In the fourth quarter of 2009, net loss was mainly due to operating expenses.

Capitalized exploration of the BVI company in 2009 was $1,272,277, total amount is $9,417,920. This  relates mainly to the acquisition of the Sergipe Potash Project in Brazil.

LJ International Inc., a jewelry manufacturer and retailer having registered address in the British Virgin Islands, and operating in Hong Kong and China, announced financial results for the fourth quarter of the year ending December 31, 2009. The company also announced an upward revision of earlier guidance, to $39 million for the fourth quarter and $110 million for the fiscal year 2009. Earlier guidance, issued in November 2009, provided for quarterly and annual revenues of $30 million and $100 million. Based on these projections, revenues will be down approximately 6% and 19% year-over-year for the fourth quarter and fiscal year 2009, with lower sales in company’s wholesale operations.

The newly revised figures for the fourth quarter of 2009 showed 56% year-over-year sales increase at BVI Company’s ENZO chain of retail stores in mainland China, and an estimated total amount made approximately $16.7 million.

On a comp-store basis, net sales increased 19% in the fourth quarter of 2009 compared to the corresponding period of the previous year.

The company has also increased its guidance for earnings per fully diluted share at $0.09 for the fourth quarter of 2009 and $0.15 for the whole year.

BVI-registered OpenTV Corp., a leading software and technology provider of advanced digital television solutions, announced financial results for the fourth quarter and full year period ended December 31, 2009.

For the year ended December 31, 2009, the BVI company reported revenues in the amount of $120 million – a 3% increase compared to $116.5 million in 2008. Also, in this period royalties and licenses revenues increased 8.9% and made $84 million. Services and other revenues decreased 8.6% and made $36 million. Net income for the year ended December 31, 2009 was $6.2 million, or $0.05 per share, compared to $9.6 million, or $0.07 per share, in 2008.

In 2009, OpenTV’s cash flows from operations were $20.3 million, compared to $14.2 million in 2008.

As of December 31, 2009, the  BVI company had cash, cash equivalents and short and long-term marketable debt securities totaling $118.5 million, compared to $102.8 million as of December 31, 2008.

For the fourth quarter 2009, OpenTV reported revenues in the amount of $31.2 million, compared to $28.9 million in the same period of 2008. Royalties and licenses revenues in Q4 2009 were $22.2 million, compared to $8.7 million in the fourth quarter 2008. Adjusted Earnings Before Interest, Tax, Depreciation and Amortization were $4.4 million, compared to $3.9 million in the same period of 2008. Net income in the fourth quarter of 2009 was $0.7 million, or $0.01 per diluted share, compared to $2.3 million, or $0.02 per diluted share, in the fourth quarter of 2008.

Yucheng Technologies Limited, the BVI-registered company providing IT and outsourced services to the Chinese banking industry, reported its financial results for the fourth quarter and fiscal year 2009. According to Chairman and CEO of Yucheng Weidong Hong, the year brought great achievements and challenges for the company, and the shifts in the banking industry were the reason for a revenue shortfall in the last quarter of 2009.

The banking environment changes in the fourth quarter of 2009 impacted the sales of the BVI company in this period. Company’s gross profit was $4.0mln as compared to $12.2mln in the fourth quarter of 2009, caused by the fall of revenues in the reported period. Sales, General and Administrative Expenses remained flat and were $7.8mln in Q4 2009 as compared to $7.5mln in the same period of 2008, – as a result of strict SG&A controls implemented in the third quarter of 2009.

In the fourth quarter of 2009, non-GAAP net income of the company was $-4.9mln, compared to $4.7mln in the same period of 2008, and net income on a GAAP basis was -$5.2mln, compared to $4.4mln in the fourth quarter of 2008. Company’s earnings per share (fully diluted) made USD-0.26 (non-GAAP) and USD -0.28 (GAAP), compared to USD 0.26 (non-GAAP) and USD 0.24 (GAAP) in the fourth quarter of 2008. Although expense controls gave positive effect on the fourth quarter financials, the costs related to unsigned contracts and lower revenues caused Yucheng to generate a loss.

By the end of 2009, cash position of Yucheng was $36.3mln, compared to $35.1mln for the same period last year. Total net revenues of the company for the year 2009 totaled $54.8mln, while in 2008 they were $54.8mln. Total assets in the end of the reported year were $130.54mln, compared to $136,27mln in 2008.