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In detail, revenues from data-related services widened to USD 10.6 million from USD 6 million in the previous quarter, accounting for 58% of the total. Revenues from audio-related services narrowed down to USD 7.1 million from USD 8.3 million in the previous quarter, taking up 39% of the total. Gross margin declined to 34% from 40% in the period last year and 35% in the previous quarter. Operating margin was 1.3%, lower than 2.5% in the second quarter of 2008 but higher than 0.4% in the first quarter of 2009.
Operating expenses increased to USD 5.7 million from USD 5.3 million in Q2 2008 and USD 4.9 million in Q1 2009. Sales and marketing expenses climbed to USD 2.3 million from USD 2.2 million in Q2 2008 and USD 1.9 million in Q1 2009. Product research and development expenses arrived at USD 1 million, the same as the figure in the previous quarter but higher than USD 700,000 in the period last year. General and administrative expenses came to USD 2.4 million, the same as the expenses in the period last year but higher than USD 2 million in Q1 2009.
GAAP net income reached USD 900,000, compared with net income of USD 300,000 in Q1 2009 and net loss of USD 10.6 million in Q2 2008. GAAP net income from continuing operations jumped to USD 700,000, compared with USD 100,000 in Q1 2009 and USD 600,000 in Q2 2008. GAAP diluted net income per American depositary share (ADS) stood at USD 0.02, compared with net income of USD 0.01 in Q1 2009 and net loss of USD 0.26 in Q2 2008.
Non-GAAP net income leapt to USD 900,000 from net income of USD 500,000 in Q1 2009 and net loss of USD 4.4 million in Q2 2008. Non-GAAP diluted net income per ADS rose to USD 0.02 from net income of USD 0.01 in Q1 2009 and net loss of USD 0.11 in Q2 2008.
Cash, cash equivalents, and short-term investments had totaled USD 99.7 million by June 30, 2009, reducing from USD 101 million at the end of the first quarter.
The company forecasts that it will seek total revenues of USD 18 million to USD 20 million in the third quarter.
Source: www.enet.com.cn (August 26, 2009)
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