China’s Linktone Forecasts Its Digital Revenues Will Continue To Decline
Chinese online firm Linktone Ltd. announced its financial results for the second quarter ended June 30, 2011, and said both that its revenue dropped in the past and will most likely continue to fall in the future.
The company’s gross revenues for the second quarter ended June 30, 2011, were a mere USD14 million, down from USD16.9 million a year ago, but slightly up from USD13.9 million in the previous quarter. The company extended its GAAP net loss to USD300,000, which was worse than the USD100,000 GAAP net loss from a year ago.
For the third quarter ending September 30, 2011, Linktone says it anticipates gross revenues to be in the range of USD12 million to USD14 million.
Cash and cash equivalents as well as short-term investments available for sale totaled USD96.3 million as of June 30, 2011, compared with USD97.4 million as of March 31, 2011.