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Sky-mobi's CEO Discusses F1Q2013 Results - Earnings Call Transcript

Stocks in this article: MOBI

To supplement its financial results presented in accordance with IFRS, management will make reference to certain non-IFRS financial measures which the Company believes provide meaningful additional information to understand Sky-mobi’s operating performance. A table reconciling non-IFRS financial measures to the nearest IFRS equivalent can be found in the earnings press release issued yesterday.

For those of you unable to listen to the entire call, a recording will be available via webcast at the Investor Relations section of Sky-mobi’s website at www.Sky-mobi.com/en.

And now it’s my pleasure to turn the call over to Sky-mobi’s CEO, Mr. Michael Song.

Michael Song



Thank you, Elaine. Welcome everyone and thank you for joining us today to review our fiscal first quarter 2013 results. We made significant progress in the smartphone market while maintaining strong revenue and cash flow from our feature phone business. We remained the market leader in China’s feature phone market, experiencing a revenue decline of only 7.6% compared to the overall industry estimate of about 25%. This was due to increased revenue contributed from our game-based mobile community and improved ARPU following the launch of several new games.

Some highlights for the first quarter include overall revenue for the quarter came in at $24.1 million U.S., down about 7.6% year-over-year. Application store downloads were 764 million. Mobile community carrier independent revenue throughout the third party channel, including concurrency, represents 21.8% of total revenue. Mobile community added 22.8 million registered users with total registered users reaching 193.4 million. Non-IFRS net profit totaled $0.5 million U.S.

Now I want to talk about our feature phone business. As anticipated, our feature phone business saw a year-over-year decline in revenue as Chinese consumers continue to migrate towards smartphones. This decline was lower than the overall market decline due to our strategy of streamlining costs, increasing monetization and ARPU, and improving payment efficiency. During this quarter, we saw year-over-year declines in user visits to and downloads from our app store primarily due to the shrinking feature phone market in China. The number of downloads was also influenced by our efforts to streamline and lower operating costs.

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