Hurray (HRAY) says its total revenues for the first quarter of 2005 were $14.9 million, a growth of 6.2% quarter-over-quarter.

2.5G services revenues were $9.4 million for the first quarter of 2005, representing an increase of 4.3% as compared to $9.0 million for the previous quarter and 140.3% as compared to $3.9 million for the first quarter of 2004.

2G services revenues were $3.5 million for the first quarter of 2005, which was largely unchanged from the previous quarter but represented a decline of 21.8% as compared to $4.5 million for the first quarter of 2004. SMS revenues were $2.3 million for the first quarter of 2005, representing a decline of 21.6% as compared with $2.9 million in the previous quarter and a decline of 49.4% as compared with $4.5 million in the first quarter of 2004. The quarter-over-quarter decline in SMS revenue was offset by strong growth in its IVR services. IVR revenues were $1.3 million for the first quarter of 2005, representing an increase of 100.6% as compared with $0.6 million for the previous quarter.

Gross profit was $8.5 million for the first quarter of 2005, representing a decline of 2.6% as compared with $8.8 million for the previous quarter and an increase of 56.3% as compared with $5.5 million for the first quarter of 2004.

Total operating expenses for the quarter were $3.1 million, representing a decline of 11.3% as compared with $3.4 million for the previous quarter and an increase of 24.9% as compared with $2.4 million for the first quarter of 2004.

Net income was $5.6 million for the quarter, representing an increase of 6.1% compared with $5.3 million for the previous quarter and an increase of 90.6% compared with $2.9 million for the first quarter of 2004. Net margin was 37.4% for the first quarter of 2005 compared to 37.4% for the previous quarter and 19.8% for the first quarter of 2004.