China's eLong Inc said its net loss widened to 12.1 mln yuan in the fourth quarter from 0.4 mln a year earlier due to increased foreign exchange losses.

The Beijing-based online travel service provider said revenue in the fourth quarter rose 27 pct year-on-year to 82.9 mln yuan.

The strong yuan led to a rise in unrealized foreign exchange losses of 15.3 mln yuan year-on-year, it said.

The gross margin in the fourth quarter came in at 72 pct, down from 75 pct a year earlier, as low-margin air ticket sales made up a greater part of the sales mix, as opposed to higher-margin hotel bookings.

The loss per share widened to 0.48 yuan from a loss of 0.08 a year earlier.

The company also said it also plans a share buyback of up to 20 mln usd.

Nasdaq-listed eLong expects first quarter revenue to come in at 68.0-75.0 mln yuan.

(1 usd = 7.2 yuan)