KongZhong Suffered USD21.57mn Net Loss in Q3
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[November 19, 2008]

KongZhong Suffered USD21.57mn Net Loss in Q3

BEIJING, Nov 19, 2008 (SinoCast via COMTEX) --
Beijing-based wireless value-added service provider KongZhong Corporation (Nasdaq: KONG) posted net loss of USD 21.57 million for the third quarter of 2008 in its unaudited financial report on November 17, in contrast to net profits of USD 540,000 a year earlier.



Non-GAAP net profits and diluted earnings per American depositary share (ADS) stood at USD 810,000 and USD 0.02, respectively.

Total revenue grew 46% year on year and 7% quarter on quarter to USD 25.05 million, beating the anticipated USD 23.5-24.5 million. Of the revenue, USD 22.07 million was generated from wireless value-added services (WVAS), USD 2.37 million from mobile game business and the rest USD 610,000 from mobile advertising segment.


Notably, expenses on R&D reached USD 4.08 million, up 21% from the previous quarter; those on sales and marketing, USD 5.02 million, down 1%; and those on general and administration, USD 3.55 million, up 25%.

KongZhong expects its total revenue to hit USD 25.5-26.5 million in the fourth quarter.
From www.hexun.com, Page 1, Tuesday, November 18, 2008
info@SinoCast.Com

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