Get Our Weekly Email Newsletter
I.T. Skills In Your China Business!IPS works with institutions and corporate clients to deliver computer skills training and ICT solutions, as well as internal assessments and benchmarking. More Info Here...
Distribute Press Releases To Chinese Media!Getting your company's message to journalists is important in China and ChinaNewswire.com can assist you in English-language releases and Xinwengao.com can provide Chinese-language distribution services. Corporate press releases are the most cost-effective way for you to connect with your customers and stakeholders in China!
• Mobile Money Transfer World Conference 2009 @ New Delhi - 2009/07/28
• APNIC 28 @ Beijing - 2009/08/24
• Social Networking World Forum Asia @ Singapore - 2009/09/22
• Optical Transmission Vision APAC @ Singapore - 2009/10/19
Let us work with you in China to manage your email marketing campaigns, loyalty marketing programs, email newsletters, and digital marketing efforts while we improve your email deliverability in China. Our software and staff can help your company stay #1! Visit XZList.com
Hurray Drops Revenue, Exceeds Guidance
May 25, 2007 |
Print
| 
Email
| Category: Wireless
Chinese mobile value-added services company Hurray (HRAY) has posted its unaudited financial results for the first quarter ended March 31, 2007.
In the company's press release, it said total revenues hit US$16.6 million, a decline of 2.2% quarter-over-quarter and 0.9% year-over-year, exceeding previous guidance of US$15.0-16.0 million
Putting a good spin on the results, Chairman and CEO QD Wang stated, "We are pleased to report a solid quarter which exceeded our previous estimate despite a challenging operating environment. Going forward, we will further our strategy of developing proprietary contents and diversifying distribution channels, while continuing our transformation into a leading entertainment content production and distribution house in China."
Total wireless value-added services revenues were US$14.9 million for the first quarter of 2007, a decline of 1.1% as compared with US$15.1 million in the previous quarter and growth of 3.3% as compared with US$14.5 million in the first quarter of 2006. Recorded music revenues, which represent revenues of the company's controlled music companies Hurray Freeland and Huayi Brothers Music, were US$1.5 million, a decline of 15.9% as compared with US$1.8 million in the previous quarter and growth of 0.7% as compared with US$1.5 million in the first quarter of 2006.
Total gross profit was US$5.4 million for the first quarter of 2007, representing growth of 2.6% as compared with US$5.3 million for the previous quarter and a decline of 10.2% as compared with US$6.1 million for the first quarter of 2006.
Total operating expenses were US$4.7 million for the first quarter of 2007, representing a decline of 0.8% as compared to US$4.7 million for the previous quarter and a decline of 10.7% as compared to US$5.3 million for the first quarter of 2006. Net income was US$1.0 million for the first quarter of 2007, representing a decrease of 38.9% as compared to US$1.6 million for the previous quarter, and growth of 3.8% as compared to US$0.9 million for the first quarter of 2006. Net margin was 5.8% for the first quarter of 2007 as compared to 9.2% for the previous quarter and 5.5% for the first quarter of 2006.
Recommend this page: 
Loading ...Join our China Tech Forum to discuss many more topics!
Leave A Comment:
-
Business
-
Commentary
- Focusing On The Bigger Picture With China's Green Dam Security Software
- Chinese Mobile Phones Lacking IMEI Numbers Face Death In India
- What Is China's Internet Marketing Outlook For 2009?
- China's Baidu.com: Drugged And Screaming For Better Management
- Benchmarks For Corporate Computer Efficiency In China
-
Computing
- Green Computers Donated To Chinese Schools
- MIIT: Installation Of Green Dam Can Be Delayed For Unprepared Manufacturers
- China Plans To Pre-install Software For Preventing Viewing Of Pornographic Websites
- Hasee To Set Up R&D Center In Taiwan
- Into Africa: China Great Wall Computer Arranges JV In Algeria
-
Gadgets & Electronics
-
Internet
-
Law & Policy
- MIIT: Installation Of Green Dam Can Be Delayed For Unprepared Manufacturers
- Campaign Launched Against Chinese Internet "Cultural Irregularities"
- China Implements Stricter Management Of Virtual Currency
- "Sex" Will Be Taboo On Chinese Internet From July 1
- Sogou Sues Tencent Over Unfair Competition In China
Copyright 1999-2009 ChinaTechNews.com. All Rights Reserved.
If you would like to syndicate these articles and posts, please utilize the RSS feed for this online publication, which provides a brief summary of each post with a link back to the original article. Posting of any other part of the articles or posts on this website, in whole or in part, is expressly prohibited without express written permission from BDL Media. No part of this website may be copied, transferred, posted, or published without the express written permission of ChinaTechNews.com or its registered agents. Content on this website, including articles, opinions, and data are protected under international copyright laws. Failure to comply with these rules will result in legal action. 