Hurray! Holding net income falls 68.8%
click rate:2821 issue time:2007-03-10 08:12

Mar. 8, 2007 (China Knowledge) - Chinese wireless value-added services firm Hurray! <HRAY>  announced a 68.6% decrease in its net income to US$5.8 million for the fiscal 2006, as compared with US$18.6 million in 2005.

For 2006, net income was US$5.8 million, a decline of 68.8% as compared with US$18.6 million for 2005. Net margin was 8.3% for the year, as compared with 29.4% for 2005. Total revenues for 2006 were US$70.1 million, representing a 10.7% increase from US$63.4 million for 2005

Looking ahead, Hurray! expects revenue of between $15 and $16 million for the first quarter of 2007, reflecting the impact of tightened enforcement of policy and regulation changes previously announced by the Ministry of Information Industry and mobile operators to address issues on billing practices in China’s mobile services industry.