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 Fiscal First Quarter 2014

Stocks in this article: MOBI

HANGZHOU, China, Aug. 12, 2013 (GLOBE NEWSWIRE) -- Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a leading mobile application store in China, today announced unaudited financial results for the fiscal first quarter ended June 30, 2013 ("first quarter 2014").

First Quarter 2014 Highlights

  • Total revenues decreased 18.3% to RMB125.2 million (US$20.4 million) compared to RMB153.4 million in the fiscal first quarter ended June 30, 2012 ("first quarter 2013"). Revenues from smartphones represented 14.7% of total revenues  
  • Gross margin increased to 27.4%, up from 24.2% in first quarter 2013  
  • Non-IFRS 1 gross margin increased to 27.4%, up from 24.8% in first quarter 2013  
  • Loss from operations decreased to RMB3.8 million (US$0.6 million), compared to loss from operations of RMB9.2 million in first quarter 2013  
  • Non-IFRS profit from operations increased to RMB3.3 million (US$0.5 million), compared to non-IFRS loss from operations of RMB0.9 million in first quarter 2013  
  • Net loss decreased to RMB0.3 million (US$0.1 million), compared to net loss of RMB5.1 million in first quarter 2013  
  • Non-IFRS net profit increased 116.0% to RMB6.8 million (US$1.1 million) from RMB3.1 million in first quarter 2013  
  • Basic and diluted loss per common share was RMB0.00 (US$0.00), which represents the equivalent of RMB0.01 (US$0.00) per ADS 2
  • Non-IFRS basic and diluted earnings per common share ("EPS") were RMB0.02 (US$0.00), which represents the equivalent of RMB0.12 (US$0.02) per ADS

Michael Tao Song, Chairman and Chief Executive Officer of Sky-mobi, stated, "We were pleased that our fiscal first quarter 2014 revenues exceeded consensus estimates and the high end of our prior guidance by approximately 8.9% due to stronger than expected growth in our smartphone business. In the first quarter of monetizing our smartphone business, we have already generated over RMB18.5 million in revenues from our smartphone business, or 14.7% of total revenues, demonstrating the strong monetization potential of our large installed user base and utilizing our application store on more economically priced smartphones."   

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 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

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