SouFun Holdings Issues 2016 Revenue Outlook, To Buy Back Shares - Quick Facts

(RTTNews) - While reporting its fourth-quarter financial results today, SouFun Holdings Limited (SFUN) provided revenue outlook for fiscal 2016 and announced a share repurchase program of up to $200 million.

For fiscal 2016, SouFun Holdings estimates total revenue to be around $1.06 billion, representing a year-on-year increase of 20 percent. This forecast reflects the company's current and preliminary view, which is subject to change.

On average, analysts polled by Thomson Reuters expect revenues for the year to increase 40 percent to $1.22 billion. Analysts' estimates typically exclude special items.

The company also said it has adopted a share repurchase program, pursuant to which it may elect to repurchase its issued and outstanding American depositary shares with an aggregate value of no more than $200 million within a period of 12 months.

Further, the company said that Richard Jiangong Dai has resigned from his position as a member of the board of directors. He plans to focus on other professional commitments.