Reporte financiero de mercado libre

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MercadoLibre, Inc. Reports Financial Results for Fourth Quarter and Full Year 2009
Fourth quarter gross merchandise volume increases 50% to $786.9 million Fourth quarter revenue increases 47% to $49.0 million, despite Venezuelan translation impact of -$7 million in the quarter Full yearnet income increases 77% to $33.2 million BUENOS AIRES, Argentina, Feb. 22, 2010 (GLOBE NEWSWIRE) --MercadoLibre, Inc. (Nasdaq:MELI) (http://www.mercadolibre.com), host of the largest online commerce platform in Latin America, today reported financial results for the fourth quarter and full year ended December 31, 2009. Marcos Galperin, President and Chief Executive Officer of MercadoLibre, Inc. commented, "We are extremely pleased with our results for 2009, as we have successfully executed against ourgrowth plan for the year. During 2009,we continued to grow our business at an uninterrupted pace. Our strong performance highlights MercadoLibre's outstanding execution as well as our ability to leverage strong regional Internet growth trends." Financial Results Fourth Quarter Results Summary Consolidated net revenues for the three months ended December 31, 2009 grew to $49.0 million, representing46.5% yearover-year growth in US dollars. In local currencies year-over-year net revenues grew 48.8% for the quarter. Results for the quarter were negatively impacted as the company decided to translate financial results from its Venezuelan operations at the "parallel" exchange rate of 5.67 bolivars instead of the official rate which was 2.15, and is now 4.3. Excluding the impact of these changes,consolidated net revenue would have been $56.0 million, a 67.5% year-over-year growth. Revenue growth was solid in both the Marketplace and Payments businesses. Specifically, Marketplace revenue grew 31.1% to $34.1 million while Payments revenue grew 100.9% to $14.9 million. Both platforms benefited from strong growth in items sold, gross merchandise volume, total payments, and total paymentsvolume. Items sold on MercadoLibre grew 47.3% to 8.6 million, representing the seventh consecutive quarter in which this key metric has accelerated. Gross merchandise volume grew 50.3% over the prior-year period to $786.9 million. Total payments transactions grew 107.7% to 1.0 million when compared to the fourth quarter of 2008. Total payments volume increased 145.7% to $135.8 million during thefourth quarter of 2009. Gross profit grew 43.3% to $38.7 million compared with the fourth quarter of 2008. Gross profit margin contracted slightly to 78.9% from 80.7% for the prior year period, as the lower gross margin Payments business grew faster than the Marketplace business. Income from operations grew 60.2% to $17.9 million in the fourth quarter compared to the fourth quarter of 2008. Operatingincome margin improved to 36.5% for the fourth quarter of 2009 from 33.4% for the same period in 2008. Net income for the three-month period ending December 31, 2009 increased 42.5% when compared to the same period of 2008 to $11.3 million. Earnings per share were $0.26 for the fourth quarter of 2009 and $0.18 for the fourth quarter of 2008. Excluding the impact of the Venezuelan translationeffect, net income would have grown 71.1% year over year. Full Year Results Summary Revenue for the full year ended December 31, 2009 increased 26.1% to $172.8 million compared with $137.0 million for the full year ended December 31, 2008. In local currencies, year-over-year net revenues grew 42.6%.

Marketplace revenue for the full year 2009 grew 17.0% over 2008 to $128.2 million, while Paymentsrevenue grew 62.6% to $44.6 million. Gross profit increased 25.0% to $136.9 million for 2009 from $109.5 million for the prior year. Gross profit margin was 79.2% for the full year of 2009 and 79.9% for the full year of 2008. Income from operations increased 49.3% to $56.0 million for 2009 from $37.5 million in 2008. Operating income margin for the full year 2009 increased to 32.4% and 27.4% for...
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