Total gross profit was $16.5 million, compared to $16 million in 4Q, while gross margins declined to 41% compared to 44% in 4Q. Total operating expenses, we have $11.4 million, a decrease from $19.8 million in 4Q and $14 million in 1Q of 2010.Net loss in 1Q was $0.46 million; however, this included a charge related to a change in the fair value of the Dacheng contingent consideration of roughly $3.7 million. Excluding this, net income in 1Q was $3.2 million, a 3% increase compared to $3.17 million in 1Q of the same period last year.
KongZhong Corporation CEO Discusses Q1 2011 Results - Earnings Call Transcript
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