This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Sky-mobi Limited Announces Unaudited Financial Results For The Fourth Quarter And Full Fiscal Year 2013

Stocks in this article: MOBI

HANGZHOU, China, May 13, 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 fourth quarter ("fourth quarter 2013") and fiscal year ended March 31, 2013.

Fourth Quarter 2013 Highlights

  • Total revenues decreased 10.1% to RMB161.0 million (US$25.9 million) compared to RMB179.0 million in the fiscal fourth quarter ended March 31, 2012 ("fourth quarter 2012"). Revenues collected from third party channels (i.e., revenues not collected through mobile network operators) represented 21.4% of total revenues  
  • Gross margin increased to 37.5%, up from 31.6% in fourth quarter 2012  
  • Non-IFRS 1 gross margin increased to 37.6%, up from 31.8% in fourth quarter 2012  
  • Profit from operations increased 230.6% to RMB29.7 million (US$4.8 million), up from RMB9.0 million in fourth quarter 2012  
  • Non-IFRS profit from operations increased 96.4% to RMB33.4 million (US$5.4 million), up from RMB17.0 million in fourth quarter 2012  
  • Net profit increased 151.7% to RMB30.2 million (US$4.9 million), up from RMB12.0 million in fourth quarter 2012  
  • Non-IFRS net profit increased 69.3% to RMB33.9 million (US$5.5 million), up from RMB20.0 million in fourth quarter 2012  
  • Basic and diluted earnings per common share ("EPS") were RMB0.12 (US$0.02), which represents the equivalent of RMB0.95 (US$0.15) per ADS 2  
  • Non-IFRS basic and diluted EPS were RMB0.13 (US$0.02), which represents the equivalent of RMB1.06 (US$0.17) per ADS

Fiscal Year 201 3 Highlights

  • Total revenues decreased 12.3% to RMB601.1 million (US$96.8 million) compared to RMB685.6 million in fiscal year 2012. Revenues collected from third party channels represented 23.4% of total revenues  
  • Gross margin was 30.3%, down from 31.3% in fiscal year 2012  
  • Non-IFRS gross margin was 30.7%, down from 31.7% in fiscal year 2012  
  • Profit from operations was RMB6.8 million (US$1.1 million), compared with RMB25.8 million in fiscal year 2012  
  • Non-IFRS profit from operations was RMB31.2 million (US$5.0 million), compared with RMB71.5 million in fiscal year 2012  
  • Net profit was RMB17.3 million (US$2.8 million), compared with RMB32.9 million in fiscal year 2012  
  • Non-IFRS net profit was RMB41.7 million (US$6.7 million), compared with RMB78.6 million in fiscal year 2012  
  • Basic and diluted earnings per common share ("EPS") were RMB0.07 (US$0.01), which represents the equivalent of RMB0.53 (US$0.08) per ADS  
  • Non-IFRS basic and diluted EPS were RMB0.16 (US$0.03), which represents the equivalent of RMB1.28 (US$0.21) per ADS

Michael Tao Song, Chairman and Chief Executive Officer of Sky-mobi, stated, "We were pleased that our fiscal fourth quarter 2013 revenues exceeded the high end of our prior guidance by approximately 28.8% and achieved 9.6% sequential growth. Even though we revised up our full fiscal year guidance last quarter we still managed to beat the high end of the guidance by 6.4%. These results are a testament to our proactive strategy to address the declining feature phone market by focusing on expanding our Maopao Community, which delivered over 13% year-over-year growth through game monetization.

1 of 13

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs