Embattled Chinese wireless value-added service provider Linktone (LTON) says it recorded a net loss of US$2.8 million for the third quarter ended September 30, 2007.
The company says it recorded revenues of US$13.3 million, compared with US$11.7 million in the second quarter of 2007 and US$19.6 million in the third quarter of 2006. The Company recorded advertising service revenues of US$1.9 million, compared with US$1.6 million in the second quarter of 2007.
Chief Executive Officer Michael Li said, "Although we continue to face regulatory challenges and a near-term weakening market environment for wireless value-added services, we do expect the market to begin to gradually stabilize next year. Meanwhile, Linktone is realizing certain benefits of the investments we have made in our cross media strategy. We remain committed to seeking the best possible opportunities and outcomes for the benefit of our shareholders, including the pursuit of potential strategic investments and synergistic collaborations."