Sinorama Announces the second quarters of 2017 Results

 

(2017-08-16)

Aug. 14, 2017, Sinorama Corporation (SNNN) announced financial result for the second quarters ended June 30, 2017. 

“Sinorama Corporation had another strong performance this quarters with revenue increased 18% than same period last year, the total revenue was $27.96 Million,“Said  QIAN HONG, president of Sinorama .

Financial Summary for the six months ended June 30, 2017 and 2016

Sinorama Corporation reported consolidated revenues of $41.04 million for the six months ended June 30, 2017 an increase of 22% compared to the same period of 2016. The increase was primarily in the Asian Tours sector, as a result of the increase in the number of customers to 16531 customers, an increase of 3795 as compared with the number of 12736 for the quarters ended June 30, 2016, result of the revenue from Asia tour increased $5.28 million or 19%,  and the other reason was increasing of advertising investment which increased $1.35 million or 82 % for the quarters ended June 30, 2017 compared to $1.65 million for the same period of 2016.

Financial Summary for the six months ended June 30, 2017 and 2016

Sinorama Corporation reported consolidated revenues of $41.04 million for the six months ended June 30, 2017 an increase of 22% compared to the same period of 2016. The increase was primarily in the Asian Tours sector, as a result of the increase in the number of customers to 16531 customers, an increase of 3795 as compared with the number of 12736 for the quarters ended June 30, 2016, result of the revenue from Asia tour increased $5.28 million or 19%,  and the other reason was increasing of advertising investment which increased $1.35 million or 82 % for the quarters ended June 30, 2017 compared to $1.65 million for the same period of 2016.

Financial Highlights

Sinorama Corporation with revenue was $27.96 million increased 18% compared to the same period of 2016, Asian Tours revenue increased 13%;
The OTA(Online Travel Agency) have been operated and developing rapidly, and the travel industry chain is improving gradually.

 

Company Website: http://www.sinoramacorporation.com/

SEC Website: https://www.sec.gov/Archives/edgar/data/1687505/000114420417042601/v472523_10q.htm

 

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Forward Looking Statement

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding future operating performance, events, trends and plans. All statements other than statements of historical fact contained herein, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected revenues and costs, and plans and objectives of management for future operations, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “expects,” “intends,” “plans,” “projects,” “estimates,” “anticipates,” or “believes” or the negative thereof or any variation thereon or similar terminology or expressions. We have based these forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on our forward-looking statements, as they speak only as of the date made. Such statements are not guarantees of future performance or events and we undertake no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances occurring after the date hereof.