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Linktone Reports Gross Revenue Decrease For 2007
March 28, 2008 |
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Only days away from the start of the second quarter of 2008, Chinese wireless value-added services firm Linktone (LTON) has graced investors with its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2007.
The company says it recorded revenue of US$16 million, compared with US$13.3 million in the third quarter of 2007 and US$14 million in the fourth quarter of 2006. Linktone's net loss for the fourth quarter was US$7 million, or US$0.29 per fully diluted ADS, compared with US$2.8 million, or US$0.12 per ADS, for the third quarter of 2007 and net income of US$0.4 million, or US$0.02 per fully diluted ADS, for the fourth quarter of 2006.
For the entire year, gross revenue decreased 31% to US$55.1 million from US$79.8 million in fiscal 2006.
CEO Michael Li said in a prepared statement, "We took some definitive steps earlier in the year to help better position the Company for longer-term growth. With the pending MNC investment and subsequent cash infusion, we will be able to aggressively implement our cross media strategy in China, which will become our core platform."
For the first quarter ending March 31, 2008, Linktone expects gross revenue to be approximately US$18.5 to US$19.5 million for WVAS; game revenues to be between US$15.0 and US$15.5 million; and advertising revenues to be between US$3.5 and US$4.0 million.
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