HANGZHOU, China, Feb. 14, 2011 (GLOBE NEWSWIRE) -- Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a leading mobile application store and mobile social network community operator in China, announced today its unaudited financial results for the fiscal third quarter ended December 31, 2010 ("third quarter 2011").
Third Quarter 2011 Highlights:
- Total revenues increased 2.5% to RMB161.2 million (US$24.2 million) in third quarter 2011, compared to the fiscal third quarter ended December 31, 2009 ("third quarter 2010"). Maopao Community revenues through K Currency, i.e., revenues not collected through mobile network operators represented 12% of total revenues
- Loss from operations was RMB6.1 million (US$0.9 million) in third quarter 2011, compared to the fiscal third quarter 2010 profit from operations of RMB36.6 million
- Non-IFRS profit from operations was RMB11.0 million (US$1.6 million) in third quarter 2011, down 70.4% from third quarter 2010
- Net profit was RMB184.7 million (US$27.7 million) in third quarter 2011, compared to net loss of RMB27.9 million in third quarter 2010
- Non-IFRS net profit was RMB13.3 million (US$2.0 million) in third quarter 2011, down 62.1% from third quarter 2010
- Basic and diluted earnings per common share were RMB1.06 (US$0.16) and RMB-0.01 (US$0.00), respectively. Non-IFRS basic and diluted earnings per common share were RMB0.08 (US$0.01) and RMB0.06 (US$0.01), respectively
- Application store revenue decreased 9.4% to RMB136.6 million (US$20.5 million) in third quarter 2011 from third quarter 2010. Sky-mobi's application store experienced 3.5 billion user visits with 846 million downloads in third quarter 2011
- Maopao Community revenue through K Currency increased 1,497.7% to RMB19.1 million (US$2.9 million) in third quarter 2011 from third quarter 2010. Sky-mobi had 10.4 million active members of the Maopao Community with 761 million member log-ins in third quarter 2011
Non-IFRS figures exclude share-based compensation expenses and other non-operating one-time items. Please see "About Non-IFRS Financial Measures" in this release for more information.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV