Online travel service provider eLong, Inc. is planning investment in back office systems, streamlining order fulfilment and a major website upgrade in the coming six months.

Published: 27 Feb 2008

Online travel service provider eLong, Inc. is planning investment in back office systems, streamlining order fulfilment and a major website upgrade in the coming six months.

This development was shared by Guangfu Cui, Chief Executive Officer, eLong, as the company shared its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2007.

eLong's total net revenues increased 27% year-on-year to RMB82.9 million and net loss from continuing operations worsened year-on-year by RMB11.7 million to RMB12.1 million driven primarily by a RMB15.3 million increase in unrealised foreign exchange losses.

"The improvement in eLong's top line performance in Q4 2007 was driven in large by improved call center service levels, the introduction of `24 by 7' air ticketing service and introduction of a triple loyalty points offer to reward customers," said Cui.

The eLong board approved a share buy back of up to US$20 million USD.

Cui said, "In doing so, the board of directors and management team is expressing its confidence in the value of eLong and in its long term future."

Net loss for the fourth quarter 2007 increased by RMB10.4 million over the prior year quarter to RMB12.1 million. Net loss for 2007 increased by RMB21.1 million to RMB22.1 million.

eLong expects net revenues for the first quarter of 2008 to be within the range of RMB68.0 million to RMB75.0 million, an increase of 10% to 22% from the first quarter of 2007.