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KongZhong Corporation CEO Discusses Q1 2011 Results - Earnings Call Transcript

Stocks in this article: KONG

KongZhong Corporation (KONG)

Q1 2011 Earnings Call

May 25, 2011 9:30 pm ET

Executives

Jay Chang – CFO

Wang Leilei – CEO

Analysts

Adam Krejcik – ROTH Capital Partners LLC

Presentation

Operator

Good day, ladies and gentlemen, and welcome to the Q1 2011 KongZhong Corp earnings conference call. My name is Walter, and I'll be your operator for today. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. (Operator instructions) As a reminder, this conference is being recorded for replay purposes.

I would now like to turn the conference over to your host for today, Mr. Jay Chang, Chief Financial Officer; and Wang Lei, Chief Executive Officer.

Jay Chang

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 discussions 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 continued interest in KongZhong. I’ll first go over our 1Q results, before handing over the call to our CEO, Mr. Wang Leilei.

Total revenues for the first quarter of 2011 were $40.1 million, an 11% sequential increase, but a 1% decrease from the same period last year.

As we continue to transition our business to become a cross-platform digital entertainment company, mobile games made up 31% of total revenues, Internet games contributed 16% and combined, mobile and Internet games made up nearly half of 1Q total revenues.

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