Hurray Press Release, 3/06/08
Wireless value-added service (WVAS) provider Hurray (Nasdaq: HRAY) has issued its earnings report for Q4 2007, with net revenues reaching USD 16.7 mln, up 23.0% quarter-on-quarter, but down 1.1% year-on-year. 2007 full-year net revenues dropped to USD 61.4 mln, a decrease of 10.7% over the 2006 figure.
Net loss for the quarter came to USD 31.3 mln, compared to net income of USD 1.6 mln for the same period in 2006. Net loss for fiscal year 2007 was USD 41.7 mln, compared to net income of USD 5.8 mln in 2006.
WVAS revenues for the quarter were USD 11.9 mln, up 4.2% quarter-on-quarter but down 21.5% year-on-year. Recorded music revenues from Hurray's record label businesses were USD 4.9 mln, up 117.8% quarter-on-quarter and 171.3% year-on-year.
The company estimates Q1 2008 total consolidated revenues will reach USD 13.5-14.5 mln.
To view Hurray's extended Q4 and full-year 2007 earnings report, please click here.