Fourth Quarter 2012 Highlights:
- Revenue for the fourth quarter of 2012 was $10.1 million, a decrease of 24.9% over same quarter last year of $13.5 million
- Loss from continuing operations of $7.1 million for the quarter compared to $1.9 million
- Net loss of $34.5 million compared to net loss of $2.9 million in same quarter last year
- Net loss in the quarter resulted from disposition of our subsidiaries Profit Harvest and Celestial Digital Entertainment, impairment charges for the write down of goodwill related to Ever Elite, Nollec Wireless, and TCB Digital.
- Revenue increased by $36.3 million from $13.5 million to $49.8 million
- Sales of mobile handsets and accessories and commission from activation of services and residuals contributed $16.6 million and $33.2 million, respectively
- Net loss for 2012 was $32.5 million compared to net income of $6.4 million in 2011