UPDATE 1-51job Q3 beats market, shares rise
* Q3 profit $0.19/ADS vs est $0.10/ADS
* Q3 rev $32.2 mln, up 5 pct
* Sees Q4 EPS $0.17-$0.20
* CFO resigns on personal grounds, COO named acting CFO
* Shares rise 23 pct
Nov 23 (Reuters) - China's 51job Inc (JOBS.O) posted better-than-expected quarterly results, helped by a rise in recruitment services revenue, and forecast a strong fourth quarter, sending its shares up 23 percent.
Separately, the company also said its Chief Financial Officer Peter Lui resigned effective immediately due to personal reasons, and that Chief Operating Officer Kathleen Chien would be acting CFO.
51job, which publishes a weekly newspaper and runs a namesake jobs web site, said it saw an improvement in market conditions in the third quarter as recruitment activity and job openings rose compared to the early part of 2009.
For the fourth quarter, the company forecast earnings of 17 cents to 20 cents per American Depositary Shares, excluding special items, on revenue of $31.5 million to $33.0 million.
Analysts on average were expecting fourth-quarter earnings of 9 cents an ADS, excluding items, on revenue of $29.7 million, according to Thomson Reuters I/B/E/S.
51job posted a third-quarter net income of $5.3 million, or 19 cents per ADS. Revenue rose 5 percent to $32.2 million.
Analysts on average had expected earnings of 10 cents per ADS, on revenue of $29.9 million.
Revenue from online recruitment services was $13.2 million, up 16 percent from the prior year.
Shares of the Shanghai-based 51job were up 14 percent at $18.94 in late morning trade Monday on Nasdaq. They touched a new 52-week high of $20.50 earlier in the session.
For the alerts, double click [ID:nWNAB8773] (Reporting by Saqib Iqbal Ahmed in Bangalore; Editing by Gopakumar Warrier) ((saqib.ahmed@thomsonreuters.com; within US +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging saqib.ahmed.reuters.com@reuters.net))
