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Sky-mobi Limited Announces Unaudited Financial Results For The Fiscal First Quarter 2013

Stocks in this article: MOBI

HANGZHOU, China, Aug. 12, 2012 (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 first quarter ended June 30, 2012 ("first quarter 2013").

First Quarter 2013 Highlights

  • Total revenues decreased 7.6% to RMB153.4 million (US$24.1 million) in first quarter 2013 compared to the fiscal first quarter ended June 30, 2011 ("first quarter 2012"). Revenues collected from third party channels (i.e., revenues not collected through mobile network operators) represented 21.8% of total revenues  
  • Loss from operations was RMB9.2 million (US$1.4 million) in first quarter 2013, compared to profit from operations of RMB8.1 million in first quarter 2012  
  • Non-IFRS 1 loss from operations was RMB0.9 million (US$0.1 million) in first quarter 2013, compared to Non-IFRS profit from operations of RMB20.5 million in first quarter 2012  
  • Net loss was RMB5.1 million (US$0.8 million) in first quarter 2013, compared to net profit of RMB7.5 million in first quarter 2012  
  • Non-IFRS net profit was RMB3.1 million (US$0.5 million) in first quarter 2013, down 84.3% from first quarter 2012  
  • Basic and diluted loss per common share were RMB0.02 (US$0.00). Non-IFRS basic and diluted earnings per common share ("EPS") were RMB0.01 (US$0.00)  
  • Basic and diluted loss per ADS 2 were RMB0.16 (US$0.02). Non-IFRS basic and diluted earnings per ADS were RMB0.10 (US$0.02)  
  • Revenues collected from carrier channels decreased 17.4% to RMB112.5 million (US$17.7 million) in first quarter 2013 from first quarter 2012. Sky-mobi's application store experienced 4.2 billion user visits with 764.0 million downloads in first quarter 2013  
  • Revenues collected from third party channels increased 38.8% to RMB33.5 million (US$5.3 million) in first quarter 2013 from first quarter 2012. Sky-mobi had 15.9 million active members of the Maopao Community with 810.3 million member log-ins in first quarter 2013

1Non-IFRS figures exclude share-based compensation expenses. Please see "About Non-IFRS Financial Measures" in this release for more information.

2American Depositary Shares, which are traded on the NASDAQ, each represents eight common shares of the Company.

Commenting on the Company's results, Michael Tao Song, Chairman and Chief Executive Officer of Sky-mobi, remarked: "We made significant progress in the smart phone market while maintaining strong cash flow from the declining Chinese feature phone industry in the June quarter. Since the launch of our smart phone series of products at the Global Mobile Internet Conference in May, we have entered into partnership agreements with 50 handset manufacturers to pre-install our smart phone application store platform, application store assistant, browser, mobile game competition platform or game content.

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