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Tom Online Reports Q1 Financial Results

Tom Online Inc. today announced its financial results for the first quarter ended March 31, 2004.

Key first quarter achievements include:

— Revenues for the quarter grew by 14% compared with last quarter's pro forma results to US$26 million, representing a year-on-year increase of 85%.

— Wireless value added services revenues totaled US$23.8 million for the quarter, representing an increase of 25% from last quarter's pro forma results and 162% from the same period in 2003.

— Online advertising revenues for the quarter grew by 104% compared with last quarter's pro forma results to US$1.2 million, a 594% year-on-year increase.

— Gross profit margins and net income margins for the quarter continued to improve, reaching 52% and 32%, respectively, compared with 51% and 31%, respectively, for the previous quarter's pro forma gross profit margins and net income margins. In the first quarter of 2003, the respective figures were 38% and 4%.

— EBITDA increased by 15% from last quarter's pro forma results to US$10.6 million, which is a 303% increase compared with the same period in 2003.

— Net income increased by 17% from last quarter's pro forma results to US$8.4 million, representing a year-on-year increase of 1,269%.

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