Chinese wireless value-added services firm Linktone Ltd. announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2009.

CEO Hary Tanoesoedibjo said, "Although Linktone has not been immune to the challenges faced by our industry, we were pleased to deliver full year financial results that were above our expectations. During 2009, we made considerable progress in enhancing our content offerings, broadening distribution channels, and expanding our geographic footprint in Southeast Asia. In early January 2010, we announced our acquisition of Chinese game developer, Letang, which is a strategic decision that will not only strengthen our content portfolio by providing more comprehensive products and service offerings, but will also allow us to accelerate our momentum in the fast-growing mobile and online games market."

Wireless value-added services and other revenues in the fourth quarter were USD15.4 million, compared with USD13.8 million in the third quarter of 2009 and USD19.4 million in the fourth quarter of 2008. The company recorded a GAAP net loss of USD1.9 million, compared with net income of USD0.7 million in the third quarter of 2009 and net income of USD0.6 million in the fourth quarter of 2008. Net loss for the fourth quarter of 2009 reflects the impact of an impairment provision of USD2.5 million related to goodwill for the casual games business.

For the full 2009 fiscal year. WVAS and other revenues were USD62.2 million, compared with USD67.0 million in 2008. GAAP net income was USD0.1 million compared with a net loss of USD16.5 million in 2008.

Tanoesoedibjo stated: "Linktone returned to profitability for 2009 after two consecutive years of losses. Going forward into 2010, we will continue to position ourselves for long-term sustainable profitability. We believe our emphasis on delivering growth initiatives while remaining disciplined in our overseas expansion strategy will help us build shareholder value."

Related Links:

• http://www.miit.gov.cn

 Loading ...