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KongZhong CEO Discusses Q2 2010 Results - Earnings Call Transcript

KongZhong Corp. (KONG)

Q2 2010 Earnings Call

August 25, 2010 7:30 pm ET

Executives

Jay Chang - Chief Financial Officer

Leilei Wang - Chairman and CEO

Analysts

Andrey Glukhov - Brean Murray

Ming Zhao - SIG

Adam Krejcik - Roth Capital Partners

Richard Safranek - Wafra Investment Advisors

Presentation

Operator

Good day, ladies and gentlemen, and welcome to the second quarter 2010 KongZhong Corporation earnings conference call. (Operator Instructions)

I would now like to turn the call over to Mr. Jay Chang, Chief Financial Officer.

Jay Chang

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 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 briefly go over our 2Q results before handing over the call to Leilei.

Total revenues for the second quarter of 2010 were $35.3 million, a 13% sequential decrease from the previous quarter, but a 9% 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 37% of total revenues, while internet online games contributed another 11%. More importantly, for the first time, our non-WVAS businesses combined contributed more than 50% of revenues and gross profit in 2Q.

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