The9 Reports Q3 Results

Net revenues for the third quarter of 2007 increased by 17% quarter-over-quarter and by 35% year-over-year to RMB316.0 million. The9 reported total gross revenues of RMB333.3 million, which increased by 17% compared to RMB284.6 million in the second quarter of 2007 and by 36% compared to RMB245.8 million in the third quarter of 2006. The increase in total revenues was a combined result of increased online game services revenues and other revenues, offset slightly by decreased revenues from game operating support, website solutions and advertisement.

Gross profit for the third quarter of 2007 increased by 15% quarter-over- quarter and 23% year-over-year to RMB132.2 million. For the third quarter of 2007, operating expenses were RMB88.5 million, representing a 19% increase from RMB74.5 million in the previous quarter and a 99% increase from RMB44.6 million in the same period of last year.

For the third quarter of 2007, net income was RMB38.2 million, which decreased by 25% from RMB50.6 million in the second quarter of 2007 and by 41% compared to RMB64.3 million in the third quarter of 2006.

For the third quarter of 2007, fully diluted adjusted EBITDA (non-GAAP) per share was RMB3.99, compared to RMB4.42 for the second quarter of 2007 and RMB4.46 in the third quarter of 2006.

Source : Chinatechnews

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