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NQ Mobile Now Expects Revenues To Exceed The Top End Of Its Guidance Range Of $50-$51mm For Q3 2013; Appoints KB Teo As Chief Financial Officer

Stocks in this article: NQ

BEIJING and DALLAS, Sept. 20, 2013 /PRNewswire/ -- NQ Mobile Inc. (NQ Mobile) (NYSE: NQ), a leading global provider of mobile Internet services, today announced that it now expects third quarter 2013 revenues to exceed its previously issued guidance range of $50-$51 million. The company also has hired KB Teo to the position of CFO. Current CFO, Suhai Ji, will work with Mr. Teo for a period of time to ensure a smooth transition and remain as a senior advisor to the company.

(Logo: http://photos.prnewswire.com/prnh/20121224/CN34262LOGO

"Today's announcement is another important step forward for NQ Mobile as we continue to execute on our plan to become a leading global mobile Internet services platform company," said Dr. Henry Lin, Co-CEO. "Suhai performed remarkably well in getting our company to this point. KB brings experience, knowledge, and the necessary qualities to help our company continue to globalize and expand.  Having already earned the respect and trust of our team during the initial public offering process, this is another key executive hire that comes with existing passion and credibility specific to NQ Mobile."

Prior to joining NQ Mobile as CFO, Mr. Teo was a Managing Director and acted as Co-Head of Asia Investment Banking for Piper Jaffray. He was also a director of TMT Investment Banking for Deutsche Bank AG and executive director for Goldman Sachs. While at Piper Jaffray, he served as the lead banker for NQ Mobile's initial public offering on the New York Stock Exchange in 2011. Mr Teo is a CFA ® charter holder and received his MBA degree from Kellogg school of management in 2002.

"I am thrilled to be joining the incredible team at NQ Mobile," said KB Teo. "Having followed the company from before their initial public offering, I have admired the management team and their vision and strategy. I look forward to working with this team and contributing to the continued growth of the company."

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