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

Stocks in this article: MOBI

Total revenues for third quarter 2013 decreased 12.2% to RMB146.9 million (US$23.6 million) from RMB167.3 million in third quarter 2012.

Revenues collected from carrier channels were RMB92.1 million (US$14.8 million) in third quarter 2013, representing 62.7% of total revenues, a decrease of 28.3% from third quarter 2012. Sky-mobi had 2.2 billion user visits and 599.3 million downloads of applications and content from the Maopao application store in third quarter 2013, which was a decrease from 3.6 billion user visits and 718.4 million downloads in third quarter 2012. The decreases in application store user activity and downloads was primarily due to the continued decline in the feature phone market as a percentage of overall mobile device shipments in China.

Revenues collected from third party channels were RMB35.7 million (US$ 5.7 million), up 21.1% from third quarter 2012 and contributing 24.3% of total revenues in third quarter 2013. Sky-mobi's Maopao Community had 13.0 million active members and 726.2 million member log-ins during the third quarter 2013, representing a decrease from 16.9 million active members and 1.1 billion member log-ins in the third quarter 2012. Revenues from the Maopao Community increased due to higher ARPU on the Company's two most popular mobile social games, "Fantasy of Three Kingdoms" and "Fairy Magic World." The Company expects that revenues collected from third party channels will contribute a steady and increasing percentage of total revenues in future quarters, as Sky-mobi focuses on growing its active mobile community member base and on diversifying revenue collection methods away from traditional carrier-based payment channels.

Other revenues consist of commissions charged from companies for using Maopao Platform to promote and sell applications ("promotion income"), and Sky-mobi's overseas revenues collected via its overseas mobile service providers. Other revenues were RMB19.1 million (US$3.1 million) in third quarter 2013, up from RMB9.4 million in third quarter 2012, primarily due to the Company's strengthened efforts in developing its promotion service on Maopao Platform and overseas markets to maintain revenues in feature phone business.  

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