E-commerce China Dangdang Cuts Q3 Revenue Outlook - Quick Facts

(RTTNews) - E-commerce China Dangdang Inc. (DANG) said it currently estimates third-quarter net revenue to be in the range of RMB 1,52 billion to RMB 1,53 billion, instead of the previously forecasted amount of around RMB 1,58 billion.

The company said this change from the previous forecast was primarily due to the company's decision to reduce sales of certain lower margin products and focus more on bottom line performance.

Dangdang estimates that its gross margin would be in the range of 17.5% ~17.7%, as compared to 15.2% in the corresponding period in 2012. The estimated net loss would be in the range of RMB 27.0 to RMB 29.0 million, as compared with loss of RMB 100.1 million in the third quarter of 2012.