KongZhong (KONG) Q4 profit soar 286 pct on year

BEIJING, Mar. 17, 2010 (Xinhua News Agency) — KongZhong (NASDAQ:KONG) Corp. (KONG.NASDAQ), a China-based mobile Internet company, on Wednesday announced net profits of 2.02 million US dollars for the final quarter of 2009, which represented a surge of 286 percent year on year.

The following table details from KongZhong’s financial results for the fourth quarter and the whole year of 2009: Total revenue (Million USD) Growth on year (%) Gross margin (%) Net profit (Million USD) Growth on year (%) Q4, 2009 34.3 28 46 2.02 286 2009 131.3 – 48 12.58 -

KongZhong achieved total revenues of 131.3 million dollars in 2009, including 98.24 million dollars from wireless value-added services, 27.3 million dollars from mobile phone games business, and 5.76 million dollars from wireless Internet business.

The company forecasts that its revenue for the first quarter of this year will top 37.5 million dollars, including 24 million dollars from wireless value-added services, 8.5 million dollars from mobile phone game business, 1 million dollars from wireless Internet business, and 4 million dollars from its Internet mobile phone game business unit, which was established after the acquisition of Shanghai Dacheng Network. (Edited by Luo Jingjing, luojj@xinhua.org)