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

Stocks in this article: MOBI

HANGZHOU, China, Feb. 4, 2013 (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, today announced unaudited financial results for the fiscal third quarter ended December 31, 2012 ("third quarter 2013").

Third Quarter 2013 Highlights

  • Total revenues decreased 12.2% to RMB146.9 million (US$23.6 million) in third quarter 2013 compared to the fiscal third quarter ended December 31, 2011 ("third quarter 2012"). Revenues collected from third party channels (i.e., revenues not collected through mobile network operators) represented 24.3% of total revenues  
  • Gross margin was 34.4% in third quarter 2013, up from 31.5% in third quarter 2012  
  • Non-IFRS 1 gross margin was 34.6% in third quarter 2013, up from 32.0% in third quarter 2012  
  • Profit from operations was RMB1.5 million (US$0.2 million) in third quarter 2013, down 40.6% from third quarter 2012  
  • Non-IFRS profit from operations was RMB6.0 million (US$1.0 million) in third quarter 2013, down 60.2% from third quarter 2012  
  • Net profit was RMB3.8 million (US$0.6 million) in third quarter 2013, down 39.8% from third quarter 2012  
  • Non-IFRS net profit was RMB8.3 million (US$1.3 million) in third quarter 2013, down 55.9% from third quarter 2012  
  • Basic and diluted earnings per common share ("EPS") were RMB0.01 (US$0.00). Non-IFRS basic and diluted EPS were RMB0.03 (US$0.01)  
  • Basic and diluted earnings per ADS 2 were RMB0.11 (US$0.02). Non-IFRS basic and diluted earnings per ADS were RMB0.25 (US$0.04)

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

2American Depositary Shares ("ADSs") are traded on the NASDAQ Global Market, each of which represents eight common shares of the Company.

Michael Tao Song, Chairman and Chief Executive Officer of Sky-mobi, stated, "We were pleased that our fiscal third quarter 2013 revenues exceeded the high end of our prior guidance by approximately 13% and achieved 5.1% sequential growth. Even though the feature phone market continued to decline as anticipated, we were encouraged to see the rate of decline stabilizing as well as strong progress in our efforts to improve the contribution of revenue from our Maopao Community.

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