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Linktone Reports Shrinking Net Loss, Sequential Revenue Increase

Chinese wireless value-added services firm Linktone (LTON) has announced its unaudited financial results for the first quarter ended March 31, 2008 and says it recorded revenues of US$20.5 million, compared with US$16 million in the fourth quarter of 2007 and US$14.2 million in the first quarter of 2007.

GAAP net loss for the company was US$4.2 million, compared with net loss of US$7.0 million in the fourth quarter of 2007 and net loss of US$3.4 million in the first quarter of 2007.

The company says it recorded advertising service revenues of US$4 million, compared with US$1.3 million in the fourth quarter of 2007 and US$0.6 million in the fourth quarter of 2007.

For the second quarter ending June 30, 2008, Linktone expects gross revenue to be approximately US$16.5 to US$18 million with WVAS, game revenues to be between US$12.5 and US$13 million, and advertising revenues to be between US$4.0 and US$5.0 million.

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