Chinese gaming and entertainment firm Shanda (SNDA) announced its unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2007 and said consolidated net revenues increased 51.8% year-over-year and 8.8% quarter-over-quarter to CNY714.2 million.

"Shanda has achieved another quarter of strong growth to close out an outstanding year in 2007. Our MMORPG business continued to post impressive results as we rolled out expansion packs and launched new titles, and we have seen solid improvement in expanding the active paying user base," said Tianqiao Chen, chairman and CEO of Shanda.

In the fourth quarter of 2007, Shanda reported net revenues of CNY714.2 million, representing an increase of 51.8% from CNY470.6 million in the fourth quarter of 2006 and 8.8% from CNY656.3 million in the third quarter of 2007. Online game revenues, including MMORPGs and casual games, were CNY688.4 million in the fourth quarter of 2007, representing an increase of 53.0% from CNY450.0 million in the fourth quarter of 2006 and 8.6% from CNY633.7 million in the third quarter of 2007.

Gross profit for the fourth quarter of 2007 was CNY479.3 million, representing a 61.8% increase from CNY296.2 million in the fourth quarter of 2006 and a 4.7% increase from CNY457.9 million in the third quarter of 2007. Gross margin was 67.1% in the fourth quarter of 2007, compared with 69.8% in the third quarter of 2007 and 62.9% in the fourth quarter of 2006. Operating income for the fourth quarter of 2007 was CNY278.9 million, representing a 79.7% increase from CNY155.2 million in the fourth quarter of 2006 and an 8.1% increase from CNY257.9 million in the third quarter of 2007. Operating margin was 39.1% in the fourth quarter of 2007, compared with 33.0% in the fourth quarter of 2006 and 39.3% in the third quarter of 2007.

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