KongZhong Corporation (KONG)
Q1 2010 Earnings Call Transcript
May 19, 2010 7:30 pm ET
Jay Chang – CFO
Wang Leilei – Chairman & CEO
Andrey Glukhov – Brean Murray
Adam Krejcik – ROTH Capital Partners
Ming Zhao – SIG
Jenny Wu – Morgan Stanley
Good day, ladies and gentlemen, and welcome to the first quarter 2010 KongZhong Corporation earnings conference call. My name is Eva, and I will be your operator for today. At this time, all participants are in a listen-only mode. We will conduct a question-and-answer session towards the end of the conference. (Operator instructions)
I would now like to turn the call over to your host for today, Mr. Jay Chang. Please proceed, sir.
Thank you, operator. This conference call may contain forward-looking statements. Although such statements are based on our own information and information from other sources we believe to be reliable, you should not place undue reliance on them. For additional discussion of risks and uncertainties relating to forward-looking statements and other factors, please see the documents we file from time to time with the Securities and Exchange Commission. We assume no obligation to update any forward-looking statements, which apply only as of the date of this conference call.
Thank you for your interest in KongZhong. On the call today, we have our Chairman and CEO, Mr. Wang Leilei; and myself, Jay Chang, the company’s CFO. I will go over our 1Q results before handing over the call to our CEO, Mr. Wang Leilei.
Total revenues for the first quarter of 2010 were $40.6 million, an 18% sequential increase and a 37% increase from the same period last year. As we continue to transition our business to become a cross-platform digital entertainment company, mobile game revenues made up 23% of total revenues, while Internet online games contributed about 10%. WVAS revenues contributed less than 65% of total revenues compared to 80% in the same period last year.