Sky-mobi Revises Guidance, Announces Conference Call to Discuss First Quarter Fiscal 2012 Results
August 12 2011 - 6:00AM
Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a
leading mobile application store and mobile social network
community operator in China, today revised its guidance for the
fiscal first quarter ended June 30, 2011 (the "first quarter 2012")
and provided guidance for the 2012 fiscal year.
For the first quarter 2012, Sky-mobi now expects revenues to be
in the range of RMB164 million to RMB167 million, down from its
previous guidance of RMB180 million to RMB190
million. Revenues for the fiscal year ending March 31, 2012
are expected to be in the range of RMB 680 million to RMB 690
million.
"We expect revenues for the quarter to be approximately 10%
below our original expectations due to our lower than expected
overall handset sales in China and a more difficult operating
environment for mobile service providers, which has lowered our
monetization rate on user activities," said Michael Tao Song,
Chairman and Chief Executive Officer of Sky-mobi. "At the same
time, we have seen strong growth for the Maopao Community and
expect the growth of the Maopao Community to continue in fiscal
2012 and beyond."
The Company is currently finalizing its financial results and
will conduct a conference call at 8:00 a.m. ET on Monday, August
22, 2011, to discuss results for the first quarter 2012.
A live audio webcast of the conference call will be available on
Sky-mobi's website at http://ir.sky-mobi.com/events.cfm.
To participate in the live conference call, please dial the
following number five to ten minutes prior to the scheduled
conference call time: +1 (877) 275-8968. International callers
should dial +1 (706) 643-1666. When prompted by the operator,
mention conference pass code 91270572.
If you are unable to participate in the call at this time, a
replay will be available for two weeks following the call and can
be accessed on the Company website or by dialing the following
numbers: +1 (855) 859-2056, international callers dial +1 (404)
537-3406, and enter the pass code 91270572.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. In some cases, you can identify
forward-looking statements by such terms as ''believes,''
''expects,'' ''anticipates,'' ''intends,'' ''estimates,'' the
negative of these terms, or other comparable terminology. Such
statements, including the statements relating to the Company's
expectation of its operating and financial results, are subject to
risks and uncertainties that could cause actual results to differ
materially from those projected. Potential risks and uncertainties
include the effectiveness, profitability, and marketability of the
company's solutions; the Company's limited operating history;
measures introduced by the PRC government and mobile network
operators aimed at mobile applications-related services; the
Company's ability to maintain cooperation relationships with
handset companies, content providers and payment service providers;
its dependence on mobile service providers, and ultimately mobile
network operators, for the collection of a substantial majority of
its revenues; billing and transmission failures, which are often
beyond the Company's control; its ability to compete effectively;
its ability to capture opportunities in the expected growth of the
smart phone market; its ability to obtain and maintain all
applicable permits and approvals; general economic and business
conditions; the volatility of the company's operating results and
financial condition; the company's ability to attract or retain
qualified senior management personnel and research and development
staff; and other risks detailed in the company's filings with the
Securities and Exchange Commission. These forward-looking
statements are based on current expectations, assumptions,
estimates and projections about the Company and the industry. The
company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by
law.
About Sky-mobi Limited
Sky-mobi Limited operates the leading mobile application store
in China as measured by revenues in 2009, according to Analysys
International. The company works with handset companies to
pre-install its Maopao mobile application store on handsets and
with content providers to provide users with applications and
content titles. Users of its Maopao store can browse, download, and
enjoy a range of applications and content, such as single-player
games, mobile music, and books. The Company's Maopao store enables
mobile applications and content to be downloaded and run on various
mobile handsets with different hardware and operating system
configurations. The company also operates a mobile social network
community in China, the Maopao Community, where it offers mobile
social games, as well as applications and content with social
network functions to its registered members. The Company is based
in Hangzhou, the People's Republic of China. For more information,
please visit: www.sky-mobi.com.
The Sky-mobi Limited logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=8458
CONTACT: Sky-mobi Limited
Mr. Carl Yeung, CFO
Phone: +(86) 571-87770978 (Hangzhou)
Email: ir@sky-mobi.com
CCG Investor Relations
Elaine Ketchmere, Partner and VP
Phone: +(1) 310-954-1345 (Los Angeles)
Email: elaine.ketchmere@ccgir.com
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