ALONG Mobile Technologies Inc. Reports First Quarter 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 its first quarter of fiscal 2006, ended March 31, 2006. Net Revenue for the fiscal first quarter of 2006 was $1,296,159, an increase of 30% compared with Net Revenue of $998,166 for the fiscal first quarter of 2005. A large portion of the increase in revenues in the first quarter of 2006 was due to a 118% increase in Wireless Entertainment Downloads (which includes games, ringtones, music among others) which constitutes an increase in revenue from downloads of $658,662 from the first quarter of 2005. This net increase in revenues was also due to our continuous efforts to expand our network of downloading downloading - download terminals as well as succeeding in enhancing our brand awareness through various marketing activities. Net Income for the fiscal quarter of 2006 was $710,843, an increase of 81% compared with Net Income of $393,920 for the fiscal first quarter of 2005. This increase in our Net Income was primarily due to the following: --The Cost of Revenue as of the first quarter of 2006 was $209,763, a decrease of 47% compared with the Cost of Revenue of $397,293 for the first quarter of 2005. --Since the end of 2005, the management of the Company decided to concentrate our efforts on the higher profit margin business, Wireless Applications as opposed op·pose v. op·posed, op·pos·ing, op·pos·es v.tr. 1. To be in contention or conflict with: oppose the enemy force. 2. to the lower profit margin business of Hardware. Financial Information
Along Mobile Technologies Inc.
Consolidated Statements of Operation (In U.S. dollars)
Three Months Ended March 31,
------------------------------
2006 (Consolidated) 2005
------------------- ---------
Sales $1,296,159 $998,166
Cost of Sales (209,763) (397,293)
------------------- ---------
Gross Profit 1,086,396 600,873
Operating Expenses
Selling and Distribution 183,819 75,200
General and Administrative 181,803 108,896
Professional fees 7,000 8,570
Depreciation 23,850 20,326
------------------- ---------
Total Expenses 396,472 212,992
------------------- ---------
Income from Operations 689,924 387,881
Other Income: 20,919 6,039
------------------- ---------
Income before Provision
for Income Taxes 710,843 393,920
Provision for Income Taxes
------------------- ---------
Net Income 710,843 393,920
Other Comprehensive Income
Currency Translation gain 161,496
------------------- ---------
Comprehensive Income $872,339 $393,920
=================== =========
Forward looking statement 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 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. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion