Total gross profit was $17 million compared to $16.5 million in 1Q, while gross margins remain stable at 41%. Total OpEx was $12.3 million, an increase of – from 1Q levels of $11.4 million as we increased sales and marketing activities for the long-term loan to tax for the full period of 2Q.Net profit in the quarter was $4.39 million compared to a net loss in 1Q of $0.46 million, but this included a charge related to the change in the fair value of the Dacheng contingent consideration of $3.73 million. Basic net profit for ADS was $0.11 based on $40.9 million ADS which included the full quarter – first two quarters impact of new shares issued to the shareholder’s of Dacheng at the end of March.
KongZhong's CEO Discusses Q2 2011 Results - Earnings Call Transcript
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