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PacificNet Quarterly Revenue Drops
November 28, 2007 |
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Chinese technology firm PacificNet (PACT.PK) has reported its unaudited results for the third quarter ended September 30, 2007 shows quarterly revenue was US$9.8 million, approximately 7% less than the same period last year.
Quarterly gross profit was US$2,374,000, of which 37% was gaming product related, representing an increase of 115% as compared to US$1,107,000 for the third quarter of 2006. Quarterly operating income was US$137,000, a turnaround compared to operating loss of US$618,000 for Q3 2006.
Cash and cash equivalents increased to US$4.9 million on September 30, 2007, compared to US$1.9 million as of December 31, 2006.
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