Chinese wireless value-added services firm Linktone Ltd. announced a small profit in its unaudited financial results for the second quarter ended June 30, 2009.
Linktone recorded wireless value-added services and other revenues of USD18.3 million, compared with USD14.8 million in the first quarter of 2009 and USD14.5 million in the second quarter of 2008. GAAP net income was USD0.9 million, compared with net income of USD0.3 million in the first quarter of 2009 and a net loss of USD10.6 million in the second quarter of 2008. GAAP net income from continuing operations was USD0.7 million for the quarter.
"Despite a challenging environment, our management team successfully delivered another profitable quarter, which came in ahead of our prior guidance," said Hary Tanoesoedibjo, CEO of Linktone.
Data-related services revenue was USD10.6 million, representing 58% of total gross revenues, compared with USD6.0 million or 41% for the first quarter of 2009.
Gross margin was 34% of net revenues, compared with 35% for the first quarter of 2009 and 40% for the second quarter of 2008.
Cash and cash equivalents, as well as short-term investments available for sale, totaled USD99.7 million on June 30, 2009, compared with USD101.0 million on March 31, 2009. For the third quarter ending September 30, 2009, Linktone anticipates gross revenues to be in the range of USD18.0 million to USD20.0 million.
