Linktone Ltd. (NASDAQ:LTON), one of the leading providers of wireless interactive entertainment services to consumers in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2009. Linktone Ltd. trades on the “NASDAQ” under the stock symbol, “LTON”. For the Latest information regarding “LTON”, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Linktone Ltd. (NASDAQ:LTON), one of the leading providers of wireless interactive entertainment services to consumers in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2009.
UNAUDITED RESULTS FOR THE FOURTH QUARTER
-- Wireless value-added services ("WVAS") and other revenues of $15.4
million, compared with $13.8 million in the third quarter of 2009 and
$19.4 million in the fourth quarter of 2008.
-- GAAP net loss of $1.9 million, compared with net income of $0.7 million
in the third quarter of 2009 and net income of $0.6 million in the
fourth quarter of 2008. Net loss for the fourth quarter of 2009
reflects the impact of an impairment provision of $2.5 million related
to goodwill for the casual games business.
-- GAAP net loss from continuing operations of $1.9 million, compared with
net income from continuing operations of $0.6 million in the third
quarter of 2009 and net income from continuing operations of $1.1
million in the fourth quarter of 2008.
-- GAAP net loss per fully diluted American Depositary Share ("ADS") of
$0.04, compared with net income of $0.02 per fully diluted ADS for the
third quarter of 2009 and net income of $0.01 per fully diluted ADS for
the fourth quarter of 2008.
-- Non-GAAP net income(*) of $0.6 million, compared with non-GAAP net
income of $0.4 million in the third quarter of 2009 and non-GAAP net
income of $2.3 million in the fourth quarter of 2008.
-- Non-GAAP net income per fully diluted ADS of $0.02, compared with
non-GAAP net income per fully diluted ADS of $0.01 in the third quarter
of 2009 and non-GAAP net income per fully diluted ADS of $0.05 in the
fourth quarter of 2008.
(*) Non-GAAP measures exclude share-based compensation expense and
impairment charges. Please refer to the table at the end of this
release titled "Non-GAAP Reconciliation" which provides
reconciliation between GAAP and non-GAAP financial measures.
UNAUDITED RESULTS FOR FISCAL YEAR 2009
-- WVAS and other revenues of $62.2 million, compared with $67.0 million
in 2008.
-- GAAP net income of $0.1 million compared with a net loss of $16.5
million in 2008.
-- GAAP net income per fully diluted ADS of $0.00 compared with GAAP net
loss per fully diluted ADS of $0.44 in 2008.
-- Non-GAAP net income per fully diluted ADS of $0.06 compared with
non-GAAP net loss per fully diluted ADS of $0.21 in 2008.
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Safe Harbor
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act") including 2009 growth, revenue for the second quarter and year of 2009 and gross margin for the second quarter and year of 2009. Additionally, words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include the impact of intense competition, the continuation or worsening of current economic conditions and the condition of the domestic and global credit and capital markets.
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