Chinese wireless value-added services firm Linktone Ltd. announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2008, but even though its quarterly net income magically hit USD0.6 million, its net loss for the full year of 2008 slumped to USD16.5 million.
WVAS revenues for the fourth quarter were USD19.4 million, compared with USD16.6 million in the third quarter of 2008 and USD14.7 million in the fourth quarter of 2007. Its net income of USD0.6 million for the fourth quarter of 2008 was better than its net loss of USD2.3 million in the third quarter of 2008 and a net loss of USD7.0 million in the fourth quarter of 2007.
For the full year of 2008, gross revenue from WVAS and other revenues increased 35% to USD67.0 million from USD49.7 million in fiscal 2007. Net loss for the company was USD16.5 million compared to a net loss of USD16.4 million in fiscal 2007.
For the first quarter ending March 31, 2009, Linktone expects gross revenue to drop to approximately USD14.5 million to USD16.5 million.