ALONG Mobile Technologies Inc. Reports First Half Fiscal 2006 Financial Results.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- ALONG Mobile Technologies Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :AGMB AGMB Advance Guard Main Body AGMB Arbeitsgemeinschaft für Medizinishces Bibliothekswesen ), a leading provider of wireless interactive entertainment products and services to customers in China, today announced financial results for the first half of fiscal 2006, ending June June: see month. 30, 2006. Net Revenue for the first half of 2006 ending June 30th was $2,440,486, an increase of 25% compared with Net Revenue of $1,960,914 for the first half of 2005 ending June 30th. Net Revenues for the fiscal second quarter of 2006 was $1,144,327, an increase of 19% compared with Net Revenue of $962,748 for the fiscal second quarter of 2005. A large portion of the increase in revenues in the second quarter of 2006 was due to a 71% increase in Wireless Entertainment Downloads (which includes games, ringtones, music among others) which constitutes an increase in revenue from downloads of $647,205 from the first quarter of 2005. Net Income for the first half of 2006 ending June 30th was $1,156,268, an increase of 58% compared with Net Income of $729,763 for the first half of 2005 ending June 30th. Net Income for the fiscal second quarter of 2006 was $445,425, an increase of 33% compared with Net Income of $335,843 for the fiscal second quarter of 2005.
The increase in Net Income was mainly attributable to two factors:
1. The expansion of our customer base which increased the sales of
our Wireless Applications and;
2. The continual decrease in our cost of sales due to the
increasing decrease of the cost of our Hardware. We have been
able to get some economies of scale which has greatly reduced
the cost of our hardware as well as instituted some rigorous
cost controls which has helped towards the bottom line.
Financial Information
Three Months Ended Six Months Ended
June 30, June 30,
------------------------- --------------------------
2006 2006
(Consolidated) 2005 (Consolidated) 2005
-------------- ---------- -------------- -----------
Income
Sales $ 1,144,327 $ 962,748 $ 2,440,486 $1,960,914
Cost of Sales (181,984) (392,319) (391,747) (789,612)
-------------- ---------- -------------- -----------
Gross Profit 962,343 570,429 2,048,739 1,171,302
-------------- ---------- -------------- -----------
Operating
Expenses
Selling and
Distribution 193,362 77,653 377,181 152,853
General and
Administrative 284,875 128,234 466,678 237,130
Professional
Fees 23,000 8,930 30,000 17,500
Depreciation 25,683 20,326 49,533 40,652
-------------- ---------- -------------- -----------
Total Expenses 526,920 235,143 923,392 448,135
-------------- ---------- -------------- -----------
Income from
Operations 435,423 335,286 1,125,347 723,167
Other Income:
Interest Income 1,002 557 21,921 6,596
Rental income 9,000 - 9,000 -
-------------- ---------- -------------- -----------
Income before
Provision
for Income Taxes 445,425 335,843 1,156,268 729,763
Provision for
Income
Taxes - - - -
-------------- ---------- -------------- -----------
Net Income 445,425 335,843 1,156,268 729,763
Other
Comprehensive
Income
Currency
Translation
Gain - - 161,496 -
-------------- ---------- ------------- -----------
Comprehensive
Income $ 445,425 $ 335,843 $ 1,317,764 $ 729,763
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Forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Certain information contained in these materials is "forward-looking for·ward-look·ing adj. Concerned with or making provision for the future: forward-looking educators; a forward-looking corporate plan. Adj. 1. " information, such as projections, estimates, pro formas As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma , or statements of intentions, expectations or plans. All forward-looking information is subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information. Business Overview ALONG MOBILE TECHNOLOGIES, INC. is a mobile value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. provider in the PRC. The Company designs, produces, publishes, manufactures, provides and distributes proprietary wireless entertainment applications such as ring-tones, games, images, videos and e-books to its customers. Our Wireless Applications are intended to be downloaded by our customers on a fee-basis by means of our proprietary public downloading downloading - download terminals which are installed by us in strategic locations such as shopping centers shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into , universities, entertainment centers, cinemas, hotels, airports, restaurants and parks. |
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