Shares fell despite news, also announced on Thursday, that eLong will replace Chairman Barney Harford with Henrik Kjellberg, a board member of majority stakeholder Expedia Inc., the travel web site operator.

The company reported a fourth-quarter loss of $234,000, or 5 cents per share, much narrower than last year's loss of $1.1 million, or 21 cents per share, but below third-quarter profit of $337,000, or 6 cents per share. Excluding items, eLong's adjusted earnings per share totaled 6 cents in the latest period.

Total sales grew to $8.9 million from $7.2 million a year ago, but the results also fell short of forecasts.

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