A replay of the call will be available for one week and dial-in information is as follows:
This call will be webcast live and the replay will be available on Renren's
corporate web site at http://ir.renren-inc.com
for 12 months.About Renren Inc.Renren Inc.
(NYSE: RENN) operates a leading real name social networking internet platform in China
. It enables users to connect and communicate with each other, share information and user generated content, play online games, shop for deals, watch videos and enjoy a wide range of other features and services. Renren's
businesses primarily include the main social networking website Renren.com
, the game development and operating platform Renren Games, the social commerce website Nuomi.com
, and the user-generated content focused video sharing website 56.com
had approximately 184 million activated users as of March 31, 2013
American depositary shares, each of which represents three Class A ordinary shares, trade on NYSE
under the symbol "RENN".Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the business outlook for the second quarter of 2013 and quotations from management in this announcement, as well as Renren's
strategic and operational plans, contain forward-looking statements. Renren
may also make written or oral forward-looking statements in its filings with the U.S. Securities and Exchange Commission
"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Renren's
beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our goals and strategies; our future business development, financial condition and results of operations; the expected growth of the social networking site market in China
; our expectations regarding demand for and market acceptance of our services; our expectations regarding the retention and strengthening of our relationships with key advertisers and customers; our plans to enhance user experience, infrastructure and service offerings; competition in our industry in China
; and relevant government policies and regulations relating to our industry. Further information regarding these and other risks is included in our annual report on Form 20-F and other documents filed with the SEC
. All information provided in this press release and in the attachments is as of the date of this press release, and Renren
does not undertake any obligation to update any forward-looking statement, except as required under applicable law.About Non-GAAP Financial Measures
To supplement Renren's
consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles ("GAAP"), Renren
uses "adjusted net income (loss)" which is defined as "a non-GAAP financial measure" by the SEC
, in evaluating its business. We define adjusted net income (loss) as income (loss) from continuing operations excluding share-based compensation expenses, amortization of intangible assets and impairment of intangible assets. We present adjusted net income (loss) because it is used by our management to evaluate our operating performance. We also believe that this non-GAAP financial measure provide useful information to investors and others in understanding and evaluating our consolidated results of operations in the same manner as our management and in comparing financial results across accounting periods and to those of our peer companies.
The presentation of this non-GAAP financial measure is not intended to be considered in isolation from, or as a substitute for, the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned "Reconciliation of non-GAAP results of operations measures to the comparable GAAP financial measures" at the end of this release.For more information, please contact:Sam Lawn
Investor Relations DirectorRenren Inc.
Tel: (86 10) 8448 1818 ext 1300
SOURCE Renren Inc.