Linktone Posts Q3 2012 Income of USD 12 Mln after Share Sale
Linktone, 11/12/12
Linktone (Nasdaq: LTON), a provider of media and entertainment content and services in key strategic markets in Asia, today announced its financial results for the third quarter ended September 30, 2012. Q3 2012 revenues were USD 12.1 mln, down 27.1% YoY from USD 16.6 mln.
GAAP net income increased to USD 12.1 mln in the third quarter of 2012, up 49.4% YoY from GAAP net income of USD 8.1 mln in the second quarter of 2012. The company's third quarter 2012 net income included realized gains from the sale of certain shares of PT Global Mediacom TBK (Global Mediacom), the parent company of Linktone.
Data-related services revenue in the third quarter accounted for 40% of revenue, or USD 4.8 mln, a decline of 8% QoQ from the second quarter of 2012. The sequential decline was primarily due to a decrease in SMS revenue from Linktone's China and Indonesian operations.
Audio-related services revenue in the third quarter accounted for 24% of revenue, or USD 2.9 mln, a 7% increase QoQ over the second quarter of 2012. The sequential increase in audio-related services revenue was driven by the seasonal increase in IVR revenue in China during the summer school holidays.
Media content revenue in the third quarter accounted for 22% of revenue, or USD 2.7 mln, consistent with the second quarter of 2012.
Mobile games revenue in the third quarter accounted for 10% of revenue, or USD 1.2 mln, a 100% increase from the second quarter of 2012. This increase was mainly driven by development of games for the Android platform.
Social commerce revenue generated by Okezone.com, which was acquired in the second quarter, accounted for 3% of revenue, or USD 0.4 mln for the third quarter of 2012.
In Q3 2012, Linktone sold 157 mln shares of Global Mediacom for gross proceeds of USD 28.1 mln and realized a gain on the sale of USD 13.2 mln.
Linktone purchased 24 mln shares of PT Media Nusantara Citra TBK and 23 mln shares of PT MNC Sky Vision TBK in the third quarter of 2012 for USD 11.0 mln.
For the fourth quarter ending December 31, 2012, Linktone anticipates revenue to be in the range of USD 12 mln to USD 14 mln
To view the complete report please see here.
Keywords: WVAS revenue wireless Linktone PT Media Nusantara Citra LTON Mediacom Okezone Q3 2012 profit fiscal report mobile gaming SP
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