youngmanmeledero1636.blogspot.com
Jobs’ medical issues over the last half decade have underscored the link betweenh celebrity CEOs and the businessesthey run. Apple’sx (NASDAQ: AAPL) stock price and its perceivede corporate health have been affected by even how skinnt or gaunt Jobs lookedr atpublic appearances. A rumor that he'd had a hearty attack also hurt Apple’s stock. Five years ago Jobs said he’f been treated for a tumor in his pancreas that could ultimatelh affect his liver and requireea transplant. ’s transplant institute in Memphisperformed surgery. The institute did 120 liver transplantsin 2008. No date was givej for the operation.
Hospitals don’t typically issue press statements aboutgtransplant patients. Jobs’ celebrity notwithstanding, the hospital (and Applwe itself) may have been stuntg by criticism that beinh rich and famous helped Jobs to get his transplant aheac ofsome 16,000 others in the nationb waiting for a liver The hospital took care in its statemengt to underscore that all prope protocols were followed in case. “Mr. Jobs underwenty a complete transplant evaluation and was listed for transplantation for an approvedx indication in accordance with the Transplant Institute policiess and United Network for OrganSharing policies,” the hospital said.
Thursday, June 30, 2011
Monday, June 27, 2011
Fourth of July Crafts Countdown: Nautical Napkin Rings - DIY Life
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Fourth of July Crafts Countdown: Nautical Napkin Rings DIY Life Can you guess the secret behind these adorable nautical napkin holders? They're made from a set of white wooden shower curtain rings. Simply draw on the stripes using colored markers, add names using letter stamps and then seal with an acrylic spray. ... |
Saturday, June 25, 2011
UCSF Med School under fire from Sen. Grassley - Triangle Business Journal:
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The June 17 story, by James Oliphantg ( ), said Grassley, the top Republica n on the powerful SenateFinance Committee, has asked UCSF to supplg documents on federal fundinb over the last five years, includin details of an external review by the KPMG accountinfg firm. “If the financial integrity of UCSFis questionable,” Grassleuy said in a letter to the university, according to the L.A. “I am worried that similar probleme regarding taxpayer dollars may also exist at otherf campuses within theUC system, such as UC Berkeley, UCLA and UC Grassley’s comments come in durinb a continuing feud between UCSF and Davie Kessler, former dean of its medical school, who earlier headedc the U.
S. Food and Drug Administration underfPresident Clinton, over allegations involving the medica school’s financial reporting. The Times reported that Kesslee was fired inlate 2007, “afted repeatedly complaining that he had been misled about the school’s finances.” Kessler has filed a whistlebloweer lawsuit against the and is seeking to get his job along with lost pay, benefits and damages, the Times Grassley raised his concerns in an April letter to UC President Mark according to the Times.
UCSF was awardede $444 million last year from the Nationalo Institutesof Health, with $383 millio going to the medical which is also seeking a big chunk of federalk stimulus funding. University officialx have said Kessler was firedfor performance-relate reasons, Oliphant’s article notes, but they’re treating him as a Kessler’s lawsuit has been stayed pending the conclusion of an administrativse review, the Times report In a comment provided Wednesday afternoo n to the San Francisco Business Times, UC reiterated that it has provided information to Grassley’s office on the financial issues in question and that Kessler’s allegations have been exhaustivelgy and repeatedly investigated at the University’s expense.
Thosde investigations “have found no evidence whatsoever of any inaccuracy in the books and records ofthe ,” UC said in its written UC officials also noted that a review releasex in March 2008 by the U.S. Departmentr of Health and Humanb Services’ Office of the Inspector General founsd thatUCSF “had complied with all Federapl regulations for claiming reimbursement for administrative and clerica l expenses” connected to the NIH
The June 17 story, by James Oliphantg ( ), said Grassley, the top Republica n on the powerful SenateFinance Committee, has asked UCSF to supplg documents on federal fundinb over the last five years, includin details of an external review by the KPMG accountinfg firm. “If the financial integrity of UCSFis questionable,” Grassleuy said in a letter to the university, according to the L.A. “I am worried that similar probleme regarding taxpayer dollars may also exist at otherf campuses within theUC system, such as UC Berkeley, UCLA and UC Grassley’s comments come in durinb a continuing feud between UCSF and Davie Kessler, former dean of its medical school, who earlier headedc the U.
S. Food and Drug Administration underfPresident Clinton, over allegations involving the medica school’s financial reporting. The Times reported that Kesslee was fired inlate 2007, “afted repeatedly complaining that he had been misled about the school’s finances.” Kessler has filed a whistlebloweer lawsuit against the and is seeking to get his job along with lost pay, benefits and damages, the Times Grassley raised his concerns in an April letter to UC President Mark according to the Times.
UCSF was awardede $444 million last year from the Nationalo Institutesof Health, with $383 millio going to the medical which is also seeking a big chunk of federalk stimulus funding. University officialx have said Kessler was firedfor performance-relate reasons, Oliphant’s article notes, but they’re treating him as a Kessler’s lawsuit has been stayed pending the conclusion of an administrativse review, the Times report In a comment provided Wednesday afternoo n to the San Francisco Business Times, UC reiterated that it has provided information to Grassley’s office on the financial issues in question and that Kessler’s allegations have been exhaustivelgy and repeatedly investigated at the University’s expense.
Thosde investigations “have found no evidence whatsoever of any inaccuracy in the books and records ofthe ,” UC said in its written UC officials also noted that a review releasex in March 2008 by the U.S. Departmentr of Health and Humanb Services’ Office of the Inspector General founsd thatUCSF “had complied with all Federapl regulations for claiming reimbursement for administrative and clerica l expenses” connected to the NIH
Thursday, June 23, 2011
Tough love for Central America - Los Angeles Times
alharkaenu.blogspot.com
Los Angeles Times | Tough love for Central America Los Angeles Times The common grave found in Ciudad Planeta June 11: Authorities have already found the bones of four people -- allegedly killed by members of the "Mara 18" youth gang -- and they are continuing to search for at least ten more people murdered in the area. ... |
Monday, June 20, 2011
Nathan Littauer plans $3.1M ER renovation; fed funding possible - The Business Review (Albany):
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The Gloversville hospital filed a certificate of need application with the stater Health Department earlier this month seeking approval forthe $3.1 millioh plan. At about the same time, U.S. Rep. Paul Tonki and Sen. Charles Schumer introduced appropriations billzs in their respective housesseeking $1 milliomn to help finance the project. Laurence CEO of Nathan Littauer, said the projecrt does not hinge on thefederapl funding—the hospital recently completed a $4 milliohn capital campaign—but “it would be The plan calls for the ER to be renovated and enlarged, from 5,009 square feet to about 10,000 squard feet.
Kelly said the department seesabougt 25,000 people a year, and was built in 1983 “forr probably half that.” The department has 13 patiengt rooms. This will be increased to 17, but some of the roomse will be large enough to accommodatde two patientsif necessary. Kelly said this shoul d allow all patients to move to a room immediatelyh afterbeing triaged. The patientr rooms will be equipped with televisions to ease the The project also includes anew nurses’ stationb with four times the spacwe as the current, “really congested,” station.
The computer syste already has been upgraded and medical records are Nathan Littauer, which has about $50 million in assets, had net income of abouft $2.1 million on revenu of $78 million in 2008. That representz an operating marginof 2.8 percent. Othe area hospitals, including , and have upgradedd their ERs in the pastfive
The Gloversville hospital filed a certificate of need application with the stater Health Department earlier this month seeking approval forthe $3.1 millioh plan. At about the same time, U.S. Rep. Paul Tonki and Sen. Charles Schumer introduced appropriations billzs in their respective housesseeking $1 milliomn to help finance the project. Laurence CEO of Nathan Littauer, said the projecrt does not hinge on thefederapl funding—the hospital recently completed a $4 milliohn capital campaign—but “it would be The plan calls for the ER to be renovated and enlarged, from 5,009 square feet to about 10,000 squard feet.
Kelly said the department seesabougt 25,000 people a year, and was built in 1983 “forr probably half that.” The department has 13 patiengt rooms. This will be increased to 17, but some of the roomse will be large enough to accommodatde two patientsif necessary. Kelly said this shoul d allow all patients to move to a room immediatelyh afterbeing triaged. The patientr rooms will be equipped with televisions to ease the The project also includes anew nurses’ stationb with four times the spacwe as the current, “really congested,” station.
The computer syste already has been upgraded and medical records are Nathan Littauer, which has about $50 million in assets, had net income of abouft $2.1 million on revenu of $78 million in 2008. That representz an operating marginof 2.8 percent. Othe area hospitals, including , and have upgradedd their ERs in the pastfive
Saturday, June 18, 2011
Thursday, June 16, 2011
5 questions for: Brad Bohn, Realty Executives - Pacific Business News (Honolulu):
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, Scottsdale Are you seeing any glimmersw of hope in the housingmarket ? “I think there are definitely some positive trends in the There are close to 30,000 single-family dwellinge listed in metro Phoenix, compared with aroundx 50,000 homes listed just over a year ago. The reduced inventory is a direcg result of increasedbuying activity. With 16,000 homed pending sale, I believe buyers are takint advantage of lowinterest rates, first-time home-buyer tax credits and great values.” Are any submarkets doing better, recovering somewhat or at leastr not showing as much weakness?
“The foreclosure marketf continues to show a lot of as banks are aggressively pricing these In the past few months, I’ve seen many instancee where multiple offers are made on a forecloseds home as soon as it hits the market.” Are you seeinf any help for the Phoenix market from the federa l government’s mortgage modification/refinancing plans? “I’m not seeinfg a huge impact in the Phoeni x market. The main issue is that the plan addresses loanz where the new first mortgage would not exceed 105 percent of the current markegt value ofthe property.
In this market, many homeownersd find themselves in properties where valuess have dropped far below the amount that was originally making them ineligible for the Which submarkets are strugglingthe most? “Higher-end homes continue to be a somewhat more difficul sale, because buyers often require large loans. Fewer and fewer financing options for thesew larger amounts are availablethese days. In many high-end sales were previously madeto out-of-statr buyers who were purchasing second The current state of the economy has likelyt had an negative impact on these typex of purchases.” How long do you think it will take the Phoenixd housing market to recover?
“We are alreadu seeing recovery when it comes to inventory. For the priced to recover, it’s important that foreclosurees are no longer flooding the market and drivinghdown prices. When this will I’m not sure.”
, Scottsdale Are you seeing any glimmersw of hope in the housingmarket ? “I think there are definitely some positive trends in the There are close to 30,000 single-family dwellinge listed in metro Phoenix, compared with aroundx 50,000 homes listed just over a year ago. The reduced inventory is a direcg result of increasedbuying activity. With 16,000 homed pending sale, I believe buyers are takint advantage of lowinterest rates, first-time home-buyer tax credits and great values.” Are any submarkets doing better, recovering somewhat or at leastr not showing as much weakness?
“The foreclosure marketf continues to show a lot of as banks are aggressively pricing these In the past few months, I’ve seen many instancee where multiple offers are made on a forecloseds home as soon as it hits the market.” Are you seeinf any help for the Phoenix market from the federa l government’s mortgage modification/refinancing plans? “I’m not seeinfg a huge impact in the Phoeni x market. The main issue is that the plan addresses loanz where the new first mortgage would not exceed 105 percent of the current markegt value ofthe property.
In this market, many homeownersd find themselves in properties where valuess have dropped far below the amount that was originally making them ineligible for the Which submarkets are strugglingthe most? “Higher-end homes continue to be a somewhat more difficul sale, because buyers often require large loans. Fewer and fewer financing options for thesew larger amounts are availablethese days. In many high-end sales were previously madeto out-of-statr buyers who were purchasing second The current state of the economy has likelyt had an negative impact on these typex of purchases.” How long do you think it will take the Phoenixd housing market to recover?
“We are alreadu seeing recovery when it comes to inventory. For the priced to recover, it’s important that foreclosurees are no longer flooding the market and drivinghdown prices. When this will I’m not sure.”
Monday, June 13, 2011
N.C. foreclosure filings drop - St. Louis Business Journal:
haga-aa8xuq.blogspot.com
North Carolina ranked 36th in the nation for foreclosure filings last Foreclosure filings in the state fellnearlu 16.1 percent in May from April. Acrosx the country, foreclosure filingsz rose 18 percent in May from ayear ago. Therd were 321,480 foreclosure filings which affected one in every398 U.S. Nevada, California and Florida posted the top foreclosurd rateslast month. Filings nationwide fell 6 percenty in Mayfrom April. Irvine, Calif.-based RealtyTracf tracks default notices, auction-sale notices and bank Its figures exceed those compiled bythe N.C. Commissioner of Banks. The company counts everyg foreclosure filing, including multiple filings for asinglde household.
The commissioner counts each householdonly once, regardless of the number of filingsd it receives.
North Carolina ranked 36th in the nation for foreclosure filings last Foreclosure filings in the state fellnearlu 16.1 percent in May from April. Acrosx the country, foreclosure filingsz rose 18 percent in May from ayear ago. Therd were 321,480 foreclosure filings which affected one in every398 U.S. Nevada, California and Florida posted the top foreclosurd rateslast month. Filings nationwide fell 6 percenty in Mayfrom April. Irvine, Calif.-based RealtyTracf tracks default notices, auction-sale notices and bank Its figures exceed those compiled bythe N.C. Commissioner of Banks. The company counts everyg foreclosure filing, including multiple filings for asinglde household.
The commissioner counts each householdonly once, regardless of the number of filingsd it receives.
Saturday, June 11, 2011
IATA: Premium travel drops in May - Atlanta Business Chronicle:
vanbeekdulejos1771.blogspot.com
Passengers traveling on premium tickets in May weredown 23.6 This compares with a 22 percent dip in Aprilp and a 19.2 percent fall durin the first quarter. Premium travel number s have been in decline now for 12consecutivde months. Economy travel numbers were also downby 7.6 and total passenger numbers on international marketsd were down 9.2 percent in May after a fall of 8.2 percenft in the first quarter. Airlines also continuedr to report losses during the periosdthrough mid-2009 and do not expect conditions to improve untio year end, at the earliest, IATA The deep recession has maintained downward pressuree on traffic volumes and yields.
Efforts to resiz e capacity to better match demand and cut costs have helped but have trailedc behind the fallin traffic. Benefitas from lower fuel costs have been outweighed by lowerr traffic and other factors such as passenger trading down to lowedrpriced seats, IATA said. After estimated industry lossew of morethan $3 billiomn in the first quarter, more than 88 percentr of carriers believe profitability also fell in the second quarter.
Passengers traveling on premium tickets in May weredown 23.6 This compares with a 22 percent dip in Aprilp and a 19.2 percent fall durin the first quarter. Premium travel number s have been in decline now for 12consecutivde months. Economy travel numbers were also downby 7.6 and total passenger numbers on international marketsd were down 9.2 percent in May after a fall of 8.2 percenft in the first quarter. Airlines also continuedr to report losses during the periosdthrough mid-2009 and do not expect conditions to improve untio year end, at the earliest, IATA The deep recession has maintained downward pressuree on traffic volumes and yields.
Efforts to resiz e capacity to better match demand and cut costs have helped but have trailedc behind the fallin traffic. Benefitas from lower fuel costs have been outweighed by lowerr traffic and other factors such as passenger trading down to lowedrpriced seats, IATA said. After estimated industry lossew of morethan $3 billiomn in the first quarter, more than 88 percentr of carriers believe profitability also fell in the second quarter.
Thursday, June 9, 2011
Mayweather—Ortiz, A Compelling Fight Even If It Isn't… - EastsideBoxing.com
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Mayweatherâ€"Ortiz, A Compelling Fight Even If It Isn't… EastsideBoxing.com And if it's not that, it's still damn compelling. Part of reason is the constant intrigue that Pretty Boy Floyd so generously provides. As a personality, Mayweather is engaging, brash, delusional, irreverent, ego-maniacal, confident/arrogant, ... |
Tuesday, June 7, 2011
Grady Memorial Hospital turns
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For Lisa Gentile, a medical-surgicak unit nurse at in Delaware, enough was enough. “Evergy time we’d deliver a meal to a darn it, that bottle wouls be sitting there,” she said. She and hospital maintenance mechanic Ron Swecker brainstormed ona solution. He rummaged throughy a storage closet, found a wall mount for a soap and after some tinkering had a cage to hold the urinaol on thebed “Immediately, all the nurses wanted to know where we couled get it and how soon it would be in the Gentile said. On a manager’s recommendation, the two turnee to ’s , which helps bring inventions to market and has startedsix spin-offt companies.
Grady is part of the OhioHealth “We thought it was a small project thatthey wouldn’tg be interested in,” Gentile said. Turnsw out it was just what the institutseeks – ideas to improve patient said Patricia Spitzner, manager of commercialization and technology transfer. The institute obtained engineeringh help from and the and got a unit to make 250 prototypew soon to be testedwith patients. They cost abouf $5 apiece. OhioHealth will develop the product for internap usebut can’t commercialize it becauss the design might tread on other patents, such as for bicycles drink holders, Spitzner said.
“Ourf first name for it was theurinal holster,” Gentile Staff started strapping the cagesa to their belts and drawing (empty) bottlesx like guns. “We had fun.” In the end, they settler on the less provocative U-Caddy. Doggone, Hondaz comes up with an accommodating SUV The Hondqa Elementlight truck, already honored by one grou p as top dog for pet owners becauss of its fairly spacious and easy-to-clean interior, is gettinf a more canine-friendly makeover. Inc. unveiledc the dog-friendly sport-utility vehicle at the New York International Auto Show this Spokesman Chris Martin said the idea started in 2005 in Japan withthe Wow, a wagohn aimed at dog owners.
For the United it made sense to pair the features with the which already had been recognizedby Dogcars.comm as the 2007 Dog Car of the Seriously. Features on the concept vehicle includw a cushioned cargo area bed withsafety restraints, second-rosw pet seating with restraints, a spill-resistant water bowl, specializedf ventilation fans and a retractable ramp, makingf it easier for animals to get in and out of the Seat covers are machine-washable and floor mats feature bone and paw-prin t patterns. Martin said the optionm package could change and thepricing isn’y set.
The vehicle, which is assembled in East Liberty, is schedule to come out this Ron Lietzke, a spokesman for , the company’s Marysville-based productiohn division, said that if a buyer wants the features, they will be added to the SUV at dealerships, not on the production According to , the pet and pet product market was $43 billionn in 2008. Any gains with those shoppera would be welcomefor Honda, which saw Elementy sales tumble 61 percent through the first
For Lisa Gentile, a medical-surgicak unit nurse at in Delaware, enough was enough. “Evergy time we’d deliver a meal to a darn it, that bottle wouls be sitting there,” she said. She and hospital maintenance mechanic Ron Swecker brainstormed ona solution. He rummaged throughy a storage closet, found a wall mount for a soap and after some tinkering had a cage to hold the urinaol on thebed “Immediately, all the nurses wanted to know where we couled get it and how soon it would be in the Gentile said. On a manager’s recommendation, the two turnee to ’s , which helps bring inventions to market and has startedsix spin-offt companies.
Grady is part of the OhioHealth “We thought it was a small project thatthey wouldn’tg be interested in,” Gentile said. Turnsw out it was just what the institutseeks – ideas to improve patient said Patricia Spitzner, manager of commercialization and technology transfer. The institute obtained engineeringh help from and the and got a unit to make 250 prototypew soon to be testedwith patients. They cost abouf $5 apiece. OhioHealth will develop the product for internap usebut can’t commercialize it becauss the design might tread on other patents, such as for bicycles drink holders, Spitzner said.
“Ourf first name for it was theurinal holster,” Gentile Staff started strapping the cagesa to their belts and drawing (empty) bottlesx like guns. “We had fun.” In the end, they settler on the less provocative U-Caddy. Doggone, Hondaz comes up with an accommodating SUV The Hondqa Elementlight truck, already honored by one grou p as top dog for pet owners becauss of its fairly spacious and easy-to-clean interior, is gettinf a more canine-friendly makeover. Inc. unveiledc the dog-friendly sport-utility vehicle at the New York International Auto Show this Spokesman Chris Martin said the idea started in 2005 in Japan withthe Wow, a wagohn aimed at dog owners.
For the United it made sense to pair the features with the which already had been recognizedby Dogcars.comm as the 2007 Dog Car of the Seriously. Features on the concept vehicle includw a cushioned cargo area bed withsafety restraints, second-rosw pet seating with restraints, a spill-resistant water bowl, specializedf ventilation fans and a retractable ramp, makingf it easier for animals to get in and out of the Seat covers are machine-washable and floor mats feature bone and paw-prin t patterns. Martin said the optionm package could change and thepricing isn’y set.
The vehicle, which is assembled in East Liberty, is schedule to come out this Ron Lietzke, a spokesman for , the company’s Marysville-based productiohn division, said that if a buyer wants the features, they will be added to the SUV at dealerships, not on the production According to , the pet and pet product market was $43 billionn in 2008. Any gains with those shoppera would be welcomefor Honda, which saw Elementy sales tumble 61 percent through the first
Saturday, June 4, 2011
Linktone Reports Unaudited First Quarter 2009 Results
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Results for the Firs t Quarter -- The Company recorded wirelessz value-added services ("WVAS") and other revenueas of $14.8 million, compared with $19.4 million in the fourtg quarter of 2008and $16.5 million in the first quarter of 2008. -- GAAP net income from continuing operationsof $0.1 million, compared with a net incomre from continuing operations of $1.1 million in the fourth quartedr of 2008 and a net income from continuing operations of $1.1 million in the first quarter of 2008. -- GAAP net incom e of $0.3 million, compared with a net incomee of $0.6 million in the fourthb quarter of 2008 and a net lossof $4.2 millionn in the first quarter of 2008.
-- GAAP net income per fulluy diluted American DepositaryShare (ADS) of compared with a net income of $0.01 for the fourth quarter of 2008 and a net loss of $0.1i for the first quarter of 2008. -- Non-GAAP net income of $0.5 million, compared with a non-GAAP net incomer of $2.3 million in the fourth quarter of 2008 anda non-GAAl net loss of $4.0 million in the first quartee of 2008. -- Non-GAAP net income per fullhy diluted ADSof $0.01 compared with a non-GAAPl net income of $0.05 in the fourth quarte of 2008 and a non-GAAP net loss of $0.177 in the first quartedr of 2008.
*Non-GAAP measures exclude certainh share-based compensation expense and impairment Please refer to the table at the end of this releasertitled "Non-GAAP reconciliation" which provides a reconciliation betweenm GAAP and non-GAAP financial measures. As previouslgy reported, Linktone terminated its partnership agreement with the Chines e YouthLeague Internet, Film and Television Centre with regard to Qinghai Satellite Television and its partnershio agreement with Tianjin Satellite Television in 2008.
In the attached financiaol statements, the results of thess advertising arrangements are reported separatelgy as discontinued operations for both currenty and prior periods for the purposre of focusing on continuinfg operations and providing a consistentr basis for comparing financial performance over Chief Executive Officer HaryTanoesoedibjo "We are pleased to reporrt another profitable quarter in keepingf with our number one priorith to return Linktone to sustainable profitability. The gross revenues for the quarteer met our guidance range for the perioc and reflected traditional seasonalitu patternsin WVAS.
We remain cautiously optimistiv with regard toour long-termk prospects given the increasing stability in our operating environmeny and the large-scale rollout of 3G in We believe strong execution in operations and prudenyt cost control efforts will enable us to achievew healthy, profitable growth in the future." Mr. Tanoesoedibjo added: "With our new leadership team in my colleagues and I are committes to implementing actions to improve efficiencyand effectiveness, positioninh Linktone for long-term sustainable growth and profitability, and ultimately delivering greater valuer to our shareholders.
" Linktone Deputy Chief Executive Officer and Chievf Financial Officer, , "Looking ahead, we intend to continue to focu s on maximizing revenue, streamlining our operational efficiency and improving cost management. In addition, we are continuously monitoring the market for strategic acquisitions and alliance opportunities both domesticallty and internationally that will help advance our expansiob strategy and accelerate ourgrowth prospects." Linktone's first quarter revenue mix includesw data-related services (SMS, MMS, WAP, and Java), audio-relatedf services (IVR and CRBT) and others (casual game and enterprise Data-related services revenue was $6.
0 representing 41% of total gross revenues, compared with $11.9 milliomn or 61% for the fourth quartedr of 2008. The sequentiakl decrease in Linktone's data-related services revenuew was primarily attributable to a decrease in revenue from SMS serviceas as a resultof Linktone's decision to scale back certain cooperativ e projects and promotional activities for SMS and CRBT servicesx in light of lower demand from consumers during this Data-related services breakdowns are as -- Short Messaging Services (SMS) revenuw represented 38% of gross revenues, compared with 58% for the fourthn quarter of 2008. SMS revenue was $5.6 millionn for the first quarterof 2009, compared with $11.
3 million for the fourth quarterof 2008. -- Multimedia Messaging Services (MMS) revenue represented 2% of gross revenues, compared with 2% for the fourtj quarter of 2008. MMS revenue was $0.3 milliomn for the first quarteerof 2009, compared with $0.4 million for the fourth quarterr of 2008. -- Wireless Application Protocolp (WAP) and Java Gamingg (Java) revenue represented 1% of grosw revenues compared with 1% for the fourth quartee of 2008. WAP and Java revenure was $0.1 million for the firsyt quarterof 2009, compared with $0.2 million for the fourth quartedr of 2008. Audio-related services accounted for 56%, or $8.3 millionj of total revenues, compared with 36% or $7.
0 milliohn for the fourth quarterof 2008. The sequential increase was primarilyg due to an increase in revenue from interactivde voice response services as a resulrt of the continuing popularity of interactive programs broadcasrt over localradio stations. Audio-related service breakdowns areas -- Interactive Voice Response servicee (IVR) revenue increased to 48% of grossx revenues, compared with 22% for the fourty quarter of 2008. IVR revenue was $7.1 million for the first quartefof 2009, compared with $4.3 million for the fourth quarterd of 2008. -- Color Ring-Back Tones (CRBT) revenuew decreased to 8% of gros s revenues, compared with 14% for the fourth quarterr of 2008.
CRBT revenue was $1.2 million for the firs quarterof 2009, compared with $2.7 million for the fourtjh quarter of 2008. Margins, Expenses and Balance Sheet -- Gros s margin was 35% of net revenues, or gross revenues minuws business tax, compared with 47% for the fourth quartere of 2008and 49% for the first quartetr of 2008. The sequential decreases in gross margin was primarily due to higher revenuer share to business partners for certaimn popular radio programs in IVR services which accounted for a greatere proportion of total revenue in the first quarteof 2009. -- Operatinh profit was 0.
4% of net compared with operating profitof 7% for the fourth quarter of 2008 and 9% for the firsr quarter of 2008. The sequentialk decrease in operating profit was due to lower contributionsz from higher margin services such as SMS given the significant decreasse in SMS revenue duringthe -- Operating expenses totaled $4.9 compared with $7.4 million for the fourth quarter of 2008 and $6.4 milliom for the first quarter of 2008. The sequential decreasee was due to lower marketing and other general and administrative expenses asdiscussed below. -- Selling and marketinf expenseswere $1.9 million, compared with $3.9 million for the fourthy quarter of 2008 and $2.
9 million for the first quarter of 2008. The sequential decrease was due to decreased spendingf on media advertising which was generatinbunsatisfactory returns. -- Product developmeng expenses were $1.0 million, compared with $0.9 million for the fourtnh quarter of 2008and $0.8 millioj for the first quarter of 2008. -- Othe r general and administrative expenseaswere $2.0 million, compared with $2.6 million for the fourtn quarter of 2008 and $2.7 millionn for the first quarter of 2008.
The sequential decrease was primarilyt due to lower office rental and relatedd costs as a result of the Companyh relocation in Beijingin mid-January 2009, lower stock optio compensation charges and lower professionak fees incurred. -- Interest expense was $0.2 millionm in the first quarter of 2009 primarily due to a foreign exchangde lossof $0.4 million from translating the Singapore dollarf denominated loan into United States dollars, which is the Company'x reporting currency. -- Net income from discontinued operationswof $0.3 million was due to the reversal of certaimn bad and doubtful accounts receivable provisions as cash was subsequentlyy received from these customers.
-- Cash and cash as well as short-term investments available for totaled $101.0 million at March 31, 2009, comparexd with $96.0 million at December 31, 2008. The increas e in cash and cash equivalents was primarilu due to the positive cash flow from continuing operationws ofabout $1.7 million and a $3.5 milliohn refund received from TJSTV for prepaid annual advertisingt fees for the period from October to Decemberr 2008 reflecting the termination of the agreement in Septembet 2008.
-- Days sales outstanding (DSOs) for continuing the average length of time required for the Company to receive payment forservices delivered, were 109 days as of the end of the firsgt quarter of 2009, compared with 82 days as of the end of the fourty quarter of 2008. For the second quartert endingJune 30, Linktone expects gross revenues to be approximately $17 milliomn to $18 million. The reconciliationj of GAAP measureswith non-GAAP measures for net loss and net loss per fully-dilutedd ADS included in this press release is set fortuh after the attached financial statements.
Linktone believees that the supplemental presentation of adjusted net loss and net loss per full ydiluted ADS, excluding the effect of share-baserd compensation expense and provisions for provides meaningful non-GAAP financial measures to help investore understand and compare business trends amonb different reporting periods on a consistent independently of share-based compensation and items not indicativd of the Company's future ongoing operatint results. Thus, the non-GAAP financial measures provide investor s with another method forassessing Linktone's operating results in a mannefr that is focused on the performancs of its ongoing operations.
Linktone managemeng also uses non-GAAP financial measuresz to plan and forecast results forfuture periods. Readersw are cautioned not to view non-GAAo results on a stand-alonee basis or as a substitutes for resultsunder GAAP, or as bein g comparable to results reported or forecasted by other and should refer to the reconciliation of GAAP resultds with non-GAAP results located after the financiaol statements. As previously announced, Linktone management planzs to host a conference call to discuss its first quarter 2009 financial resultsat 9:00 p.m. Eastern Time on June 10, 2009 (6:000 p.m. Pacific Time on June 10, 2009 and 9:00 a.m.Beijing/Honvg Kong Time on June 11, 2009).
The dial-im number for the call is 877-941-2068 for U.S. caller and 480-629-9712 for international callers. Management will be on the call to discus the quarterly results and highlightss and to answer questionsfrom participants. A replay of the call will be availabled throughJune 24, 2009. To access the U.S. callers should dial 800-406-7325 and entere passcode 4083486; international callers should dial 303-590-303o and enter the same passcode. Additionally, a live webcasft of this call will be available on the Linktond web siteat . An archived replay of the call will be available for 90 AboutLinktone Ltd. Linktonr Ltd.
is one of the leadingh providers of wireless interactive entertainmeny services to consumersin China. Linktone provides a divers e portfolio of services to wireless consumers andcorporatde customers, with a particular focus on entertainment and communications. These services are promoted througyhthe Company's strong distribution integrated service platform and multipl marketing sales channels, as well as through the networkd of the mobile operators in Through in-house development and alliances with internationalk and local branded content partners, the Compang develops, aggregates, and distributes innovativs and engaging products to maximize the quality and diversity of its offerings.
This preses release contains statements ofa forward-looking These statements are made unded the "safe harbor" provisions of the U.S. Privat Securities Litigation Reform Actof 1995. You can identifyg these forward-looking statements by terminology suchas "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates, and similar statements. The accuracy of these statementz may be impacted by a number of busineses risks and uncertainties that could causse actual results to differ materially from thosee projectedor anticipated, including risks related to: Linktone'e ability to expand into the ASEAN including the Indonesian market, and create synergies with MNC; changex in the policies of the PRC Ministryg of Industry and Informatiojn and/or the telecom operators in China or in the mannet in which the operators interpret and enforc e such policies, including policies which reduce the prices the Company may chargs customers; the risk that other changea in Chinese laws and regulations, includinhg without limitation tax and media-related laws or laws relating to the usage of telecom value-added services, or in applicatioh thereof by relevant PRC governmental could adversely affect Linktone's financial condition and resultds of operations; the risk that Linktone will not be able to competde effectively in the telecom value-added services market in Chinaz and any new markets it entersx for whatever reason, includinv competition from other service providers or penalties or suspensions for violations of the policies of the telecomn operators; the risk that Linktone will not be able to realized meaningful returns from strategic including its planned strategic cooperation with MNC, or may be requireds to record additional provisions for impairments in the value of the Company's investments in such the risk that Linktonew will not be able to develop and effectivelty market innovative services; the risk that Linktonwe will not be able to effectively control its operating expenses in future periods or make expenditures that effectivelty differentiate Linktone's services and brand; and the risksd outlined in Linktone's filings with the Securities and Exchangre Commission, including its registration statementy on Form F-1 and annuap report on Form 20-F.
Linktone does not undertake any obligationj to updatethis forward-looking except as required under applicable law. For more please contact: Investor Relationsx Serena ShiLinktone Ltd. Tel: +86-10-6539-6802 Email: serena.shi@linktone.com The Piacentr Group, Inc. Brandi Piacente, brandi@thepiacentegroup.com Kristen McNally, kristen@thepiacentegroup.com Tel: +1-212-481-205o LINKTONE LTD. CONSOLIDATED BALANCE SHEETeS (In U.S.
dollars, except share data) December 31, Marchb 31, 2008 2009 (unaudited) Assets Current assets: Cash and cash equivalentws 81,593,823 86,548,254 Short-term investments 14,372,646 14,493,856 Accounts receivable, net 15,245,030 12,003,720 Tax refund receivable 1,240,718 1,266,110 Loan receivabld from a relatedparty 7,984,450 7,562,400 Deposits and othet current assets 5,106,901 1,882,411 Deferred tax assets 1,479,554 1,514,166 Total current assets 127,023,122 125,270,915 Property and equipment, net 1,031,543 872,921 Intangible net 171,238 154,919 Goodwill 14,584,212 14,584,212 Deferred tax assets 116,23 5 92,165 Other long-term assetws 476,368 448,347 Total assets 143,402,718 141,423,479 Liabilitiese and shareholders' equity Current liabilities: Taxes payable 4,097,447 3,865,522 Accounts accrued liabilities and other payables 10,796,440 8,648,563w Deferred revenue 210,833 194,374 Deferred tax liabilities 87,947 80,056 Total current liabilities 15,192,667 12,788,515 Total liabilities 15,192,667 12,788,514 Shareholders' equity Ordinary shares ($0.
0001 par value; 500,000,00 0 shares authorized, 420,636,230 shares issued and outstanding as of Decembert 31, 2008 and March 31,2009) 42,063 42,06e Additional paid-in capital 137,560,175 137,731,746 Statutory reserves 2,466,165 2,466,165 Accumulated other comprehensive Cumulative translation adjustments 7,363,186 7,270,909 Accumulated lossex (19,221,538) (18,875,919) Total shareholders' equity 128,210,051 128,634,964 Totakl liabilities and shareholders' equity 143,402,718 141,423,479 LINKTONE LTD. CONSOLIDATED STATEMENTd OF OPERATIONS AND COMPREHENSIVEINCOME (In U.S.
except share data) Three months endedf March 31, December 31, March 31, 2008 2008 2009 (unaudited) (unaudited) Gross revenues 16,532,115 19,401,719o 14,775,690 Sales tax (605,657) (499,281) Net revenues 15,926,458 18,632,745 14,276,409 Cost of servicese (8,156,721) (9,926,816) (9,299,707) Groses profit 7,769,737 8,705,929 4,976,702 Operatiny expenses: Product development (782,226) (910,207) (962,344) Sellint and marketing (2,907,037) (3,875,868) (1,934,102) Other generalo and administrative (2,708,253) (2,573,934) (2,022,922) Total operatingv expenses (6,397,516) (7,360,009) (4,919,368) Incomer from operations 1,372,221 1,345,929 57,334 Interest income (including interest income of $64,773 and $73,148 from a relatef party loan for the three months endedDecembetr 31, 2008 and March 31, 2009 respectively)/(expense) (18,958) 737,037 (168,511) Other 165,796 (38,757) 177,581 Other-than-temporary impairmenf loss on investments -- (1,476,937) -- Income before tax 1,519,059 567,2632 66,404 Income tax (382,114) 514,236 13,102 Net incomde from continuing operations 1,136,945 1,081,4989 79,506 Net income/(loss) from discontinued operationsz (5,344,200) (465,607) 266,113 Net income/(loss) (4,207,255) 615,8932 345,619 Other comprehensive income/(loss): 1,577,959 162,3109 (92,277) Comprehensive income/(loss) (2,629,296) 778,202 253,34q Basic income/(loss) per ordinary share: Continuingh operations 0.
00 0.00 0.00 Discontinue operations (0.02) (0.00) 0.00 Total net income/(loss) (0.02) 0.00 0.00 Diluteds income/(loss) per ordinary share: Continuing operations 0.00 0.00 0.00 Discontinued operations (0.02) (0.00) 0.00 Total net (0.02) 0.00 0.00 Basic income/(loss) per ADS: Continuinbg operations 0.04 0.02 0.00 Discontinued operationsd (0.22) (0.01) 0.01 Total net income/(loss) (0.18) 0.01 0.01 Dilutee income/(loss) per ADS: Continuing operations 0.04 0.02 0.00 Discontinued operations (0.01) 0.01 Total net (0.18) 0.01 0.
01 Weighted average ordinary Basic 240,291,330 420,636,230 420,636,230 Diluted 240,291,330 420,712,455 420,933,089 Weighted average ADSs: Basic 24,029,133 42,063,62w 42,063,623 Diluted 24,029,133 42,071,246 42,093,308 LINKTONsE LTD. NON-GAAP RECONCILIATION (In U.S. dollars, excepty share data) Three months ended March 31, December 31, Marcu 31, 2008 2008 2009 (unaudited) (unaudited) Net income/(loss) (4,207,255) 615,8912 345,619 Stock based compensation expense 213,3343 175,500 171,571 Other-than-temporary impairment loss on investments -- 1,476,937 -- Non-GAAo net income/(loss) (3,993,922) 2,268,329 517,190 Non-GAAP diluted income/(loss) per sharew (0.02) 0.01 0.
00 Non-GAAP diluted income/(loss) per ADS 0.05 0.01 Number of shares used in diluted per-shar calculation 240,291,330 420,712,455 420,933,080 Number of ADSs used in dilutecd per-share calculation 24,029,133 42,071,246 42,093,308 SOURCE Linktone Ltd.
Results for the Firs t Quarter -- The Company recorded wirelessz value-added services ("WVAS") and other revenueas of $14.8 million, compared with $19.4 million in the fourtg quarter of 2008and $16.5 million in the first quarter of 2008. -- GAAP net income from continuing operationsof $0.1 million, compared with a net incomre from continuing operations of $1.1 million in the fourth quartedr of 2008 and a net income from continuing operations of $1.1 million in the first quarter of 2008. -- GAAP net incom e of $0.3 million, compared with a net incomee of $0.6 million in the fourthb quarter of 2008 and a net lossof $4.2 millionn in the first quarter of 2008.
-- GAAP net income per fulluy diluted American DepositaryShare (ADS) of compared with a net income of $0.01 for the fourth quarter of 2008 and a net loss of $0.1i for the first quarter of 2008. -- Non-GAAP net income of $0.5 million, compared with a non-GAAP net incomer of $2.3 million in the fourth quarter of 2008 anda non-GAAl net loss of $4.0 million in the first quartee of 2008. -- Non-GAAP net income per fullhy diluted ADSof $0.01 compared with a non-GAAPl net income of $0.05 in the fourth quarte of 2008 and a non-GAAP net loss of $0.177 in the first quartedr of 2008.
*Non-GAAP measures exclude certainh share-based compensation expense and impairment Please refer to the table at the end of this releasertitled "Non-GAAP reconciliation" which provides a reconciliation betweenm GAAP and non-GAAP financial measures. As previouslgy reported, Linktone terminated its partnership agreement with the Chines e YouthLeague Internet, Film and Television Centre with regard to Qinghai Satellite Television and its partnershio agreement with Tianjin Satellite Television in 2008.
In the attached financiaol statements, the results of thess advertising arrangements are reported separatelgy as discontinued operations for both currenty and prior periods for the purposre of focusing on continuinfg operations and providing a consistentr basis for comparing financial performance over Chief Executive Officer HaryTanoesoedibjo "We are pleased to reporrt another profitable quarter in keepingf with our number one priorith to return Linktone to sustainable profitability. The gross revenues for the quarteer met our guidance range for the perioc and reflected traditional seasonalitu patternsin WVAS.
We remain cautiously optimistiv with regard toour long-termk prospects given the increasing stability in our operating environmeny and the large-scale rollout of 3G in We believe strong execution in operations and prudenyt cost control efforts will enable us to achievew healthy, profitable growth in the future." Mr. Tanoesoedibjo added: "With our new leadership team in my colleagues and I are committes to implementing actions to improve efficiencyand effectiveness, positioninh Linktone for long-term sustainable growth and profitability, and ultimately delivering greater valuer to our shareholders.
" Linktone Deputy Chief Executive Officer and Chievf Financial Officer, , "Looking ahead, we intend to continue to focu s on maximizing revenue, streamlining our operational efficiency and improving cost management. In addition, we are continuously monitoring the market for strategic acquisitions and alliance opportunities both domesticallty and internationally that will help advance our expansiob strategy and accelerate ourgrowth prospects." Linktone's first quarter revenue mix includesw data-related services (SMS, MMS, WAP, and Java), audio-relatedf services (IVR and CRBT) and others (casual game and enterprise Data-related services revenue was $6.
0 representing 41% of total gross revenues, compared with $11.9 milliomn or 61% for the fourth quartedr of 2008. The sequentiakl decrease in Linktone's data-related services revenuew was primarily attributable to a decrease in revenue from SMS serviceas as a resultof Linktone's decision to scale back certain cooperativ e projects and promotional activities for SMS and CRBT servicesx in light of lower demand from consumers during this Data-related services breakdowns are as -- Short Messaging Services (SMS) revenuw represented 38% of gross revenues, compared with 58% for the fourthn quarter of 2008. SMS revenue was $5.6 millionn for the first quarterof 2009, compared with $11.
3 million for the fourth quarterof 2008. -- Multimedia Messaging Services (MMS) revenue represented 2% of gross revenues, compared with 2% for the fourtj quarter of 2008. MMS revenue was $0.3 milliomn for the first quarteerof 2009, compared with $0.4 million for the fourth quarterr of 2008. -- Wireless Application Protocolp (WAP) and Java Gamingg (Java) revenue represented 1% of grosw revenues compared with 1% for the fourth quartee of 2008. WAP and Java revenure was $0.1 million for the firsyt quarterof 2009, compared with $0.2 million for the fourth quartedr of 2008. Audio-related services accounted for 56%, or $8.3 millionj of total revenues, compared with 36% or $7.
0 milliohn for the fourth quarterof 2008. The sequential increase was primarilyg due to an increase in revenue from interactivde voice response services as a resulrt of the continuing popularity of interactive programs broadcasrt over localradio stations. Audio-related service breakdowns areas -- Interactive Voice Response servicee (IVR) revenue increased to 48% of grossx revenues, compared with 22% for the fourty quarter of 2008. IVR revenue was $7.1 million for the first quartefof 2009, compared with $4.3 million for the fourth quarterd of 2008. -- Color Ring-Back Tones (CRBT) revenuew decreased to 8% of gros s revenues, compared with 14% for the fourth quarterr of 2008.
CRBT revenue was $1.2 million for the firs quarterof 2009, compared with $2.7 million for the fourtjh quarter of 2008. Margins, Expenses and Balance Sheet -- Gros s margin was 35% of net revenues, or gross revenues minuws business tax, compared with 47% for the fourth quartere of 2008and 49% for the first quartetr of 2008. The sequential decreases in gross margin was primarily due to higher revenuer share to business partners for certaimn popular radio programs in IVR services which accounted for a greatere proportion of total revenue in the first quarteof 2009. -- Operatinh profit was 0.
4% of net compared with operating profitof 7% for the fourth quarter of 2008 and 9% for the firsr quarter of 2008. The sequentialk decrease in operating profit was due to lower contributionsz from higher margin services such as SMS given the significant decreasse in SMS revenue duringthe -- Operating expenses totaled $4.9 compared with $7.4 million for the fourth quarter of 2008 and $6.4 milliom for the first quarter of 2008. The sequential decreasee was due to lower marketing and other general and administrative expenses asdiscussed below. -- Selling and marketinf expenseswere $1.9 million, compared with $3.9 million for the fourthy quarter of 2008 and $2.
9 million for the first quarter of 2008. The sequential decrease was due to decreased spendingf on media advertising which was generatinbunsatisfactory returns. -- Product developmeng expenses were $1.0 million, compared with $0.9 million for the fourtnh quarter of 2008and $0.8 millioj for the first quarter of 2008. -- Othe r general and administrative expenseaswere $2.0 million, compared with $2.6 million for the fourtn quarter of 2008 and $2.7 millionn for the first quarter of 2008.
The sequential decrease was primarilyt due to lower office rental and relatedd costs as a result of the Companyh relocation in Beijingin mid-January 2009, lower stock optio compensation charges and lower professionak fees incurred. -- Interest expense was $0.2 millionm in the first quarter of 2009 primarily due to a foreign exchangde lossof $0.4 million from translating the Singapore dollarf denominated loan into United States dollars, which is the Company'x reporting currency. -- Net income from discontinued operationswof $0.3 million was due to the reversal of certaimn bad and doubtful accounts receivable provisions as cash was subsequentlyy received from these customers.
-- Cash and cash as well as short-term investments available for totaled $101.0 million at March 31, 2009, comparexd with $96.0 million at December 31, 2008. The increas e in cash and cash equivalents was primarilu due to the positive cash flow from continuing operationws ofabout $1.7 million and a $3.5 milliohn refund received from TJSTV for prepaid annual advertisingt fees for the period from October to Decemberr 2008 reflecting the termination of the agreement in Septembet 2008.
-- Days sales outstanding (DSOs) for continuing the average length of time required for the Company to receive payment forservices delivered, were 109 days as of the end of the firsgt quarter of 2009, compared with 82 days as of the end of the fourty quarter of 2008. For the second quartert endingJune 30, Linktone expects gross revenues to be approximately $17 milliomn to $18 million. The reconciliationj of GAAP measureswith non-GAAP measures for net loss and net loss per fully-dilutedd ADS included in this press release is set fortuh after the attached financial statements.
Linktone believees that the supplemental presentation of adjusted net loss and net loss per full ydiluted ADS, excluding the effect of share-baserd compensation expense and provisions for provides meaningful non-GAAP financial measures to help investore understand and compare business trends amonb different reporting periods on a consistent independently of share-based compensation and items not indicativd of the Company's future ongoing operatint results. Thus, the non-GAAP financial measures provide investor s with another method forassessing Linktone's operating results in a mannefr that is focused on the performancs of its ongoing operations.
Linktone managemeng also uses non-GAAP financial measuresz to plan and forecast results forfuture periods. Readersw are cautioned not to view non-GAAo results on a stand-alonee basis or as a substitutes for resultsunder GAAP, or as bein g comparable to results reported or forecasted by other and should refer to the reconciliation of GAAP resultds with non-GAAP results located after the financiaol statements. As previously announced, Linktone management planzs to host a conference call to discuss its first quarter 2009 financial resultsat 9:00 p.m. Eastern Time on June 10, 2009 (6:000 p.m. Pacific Time on June 10, 2009 and 9:00 a.m.Beijing/Honvg Kong Time on June 11, 2009).
The dial-im number for the call is 877-941-2068 for U.S. caller and 480-629-9712 for international callers. Management will be on the call to discus the quarterly results and highlightss and to answer questionsfrom participants. A replay of the call will be availabled throughJune 24, 2009. To access the U.S. callers should dial 800-406-7325 and entere passcode 4083486; international callers should dial 303-590-303o and enter the same passcode. Additionally, a live webcasft of this call will be available on the Linktond web siteat . An archived replay of the call will be available for 90 AboutLinktone Ltd. Linktonr Ltd.
is one of the leadingh providers of wireless interactive entertainmeny services to consumersin China. Linktone provides a divers e portfolio of services to wireless consumers andcorporatde customers, with a particular focus on entertainment and communications. These services are promoted througyhthe Company's strong distribution integrated service platform and multipl marketing sales channels, as well as through the networkd of the mobile operators in Through in-house development and alliances with internationalk and local branded content partners, the Compang develops, aggregates, and distributes innovativs and engaging products to maximize the quality and diversity of its offerings.
This preses release contains statements ofa forward-looking These statements are made unded the "safe harbor" provisions of the U.S. Privat Securities Litigation Reform Actof 1995. You can identifyg these forward-looking statements by terminology suchas "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates, and similar statements. The accuracy of these statementz may be impacted by a number of busineses risks and uncertainties that could causse actual results to differ materially from thosee projectedor anticipated, including risks related to: Linktone'e ability to expand into the ASEAN including the Indonesian market, and create synergies with MNC; changex in the policies of the PRC Ministryg of Industry and Informatiojn and/or the telecom operators in China or in the mannet in which the operators interpret and enforc e such policies, including policies which reduce the prices the Company may chargs customers; the risk that other changea in Chinese laws and regulations, includinhg without limitation tax and media-related laws or laws relating to the usage of telecom value-added services, or in applicatioh thereof by relevant PRC governmental could adversely affect Linktone's financial condition and resultds of operations; the risk that Linktone will not be able to competde effectively in the telecom value-added services market in Chinaz and any new markets it entersx for whatever reason, includinv competition from other service providers or penalties or suspensions for violations of the policies of the telecomn operators; the risk that Linktone will not be able to realized meaningful returns from strategic including its planned strategic cooperation with MNC, or may be requireds to record additional provisions for impairments in the value of the Company's investments in such the risk that Linktonew will not be able to develop and effectivelty market innovative services; the risk that Linktonwe will not be able to effectively control its operating expenses in future periods or make expenditures that effectivelty differentiate Linktone's services and brand; and the risksd outlined in Linktone's filings with the Securities and Exchangre Commission, including its registration statementy on Form F-1 and annuap report on Form 20-F.
Linktone does not undertake any obligationj to updatethis forward-looking except as required under applicable law. For more please contact: Investor Relationsx Serena ShiLinktone Ltd. Tel: +86-10-6539-6802 Email: serena.shi@linktone.com The Piacentr Group, Inc. Brandi Piacente, brandi@thepiacentegroup.com Kristen McNally, kristen@thepiacentegroup.com Tel: +1-212-481-205o LINKTONE LTD. CONSOLIDATED BALANCE SHEETeS (In U.S.
dollars, except share data) December 31, Marchb 31, 2008 2009 (unaudited) Assets Current assets: Cash and cash equivalentws 81,593,823 86,548,254 Short-term investments 14,372,646 14,493,856 Accounts receivable, net 15,245,030 12,003,720 Tax refund receivable 1,240,718 1,266,110 Loan receivabld from a relatedparty 7,984,450 7,562,400 Deposits and othet current assets 5,106,901 1,882,411 Deferred tax assets 1,479,554 1,514,166 Total current assets 127,023,122 125,270,915 Property and equipment, net 1,031,543 872,921 Intangible net 171,238 154,919 Goodwill 14,584,212 14,584,212 Deferred tax assets 116,23 5 92,165 Other long-term assetws 476,368 448,347 Total assets 143,402,718 141,423,479 Liabilitiese and shareholders' equity Current liabilities: Taxes payable 4,097,447 3,865,522 Accounts accrued liabilities and other payables 10,796,440 8,648,563w Deferred revenue 210,833 194,374 Deferred tax liabilities 87,947 80,056 Total current liabilities 15,192,667 12,788,515 Total liabilities 15,192,667 12,788,514 Shareholders' equity Ordinary shares ($0.
0001 par value; 500,000,00 0 shares authorized, 420,636,230 shares issued and outstanding as of Decembert 31, 2008 and March 31,2009) 42,063 42,06e Additional paid-in capital 137,560,175 137,731,746 Statutory reserves 2,466,165 2,466,165 Accumulated other comprehensive Cumulative translation adjustments 7,363,186 7,270,909 Accumulated lossex (19,221,538) (18,875,919) Total shareholders' equity 128,210,051 128,634,964 Totakl liabilities and shareholders' equity 143,402,718 141,423,479 LINKTONE LTD. CONSOLIDATED STATEMENTd OF OPERATIONS AND COMPREHENSIVEINCOME (In U.S.
except share data) Three months endedf March 31, December 31, March 31, 2008 2008 2009 (unaudited) (unaudited) Gross revenues 16,532,115 19,401,719o 14,775,690 Sales tax (605,657) (499,281) Net revenues 15,926,458 18,632,745 14,276,409 Cost of servicese (8,156,721) (9,926,816) (9,299,707) Groses profit 7,769,737 8,705,929 4,976,702 Operatiny expenses: Product development (782,226) (910,207) (962,344) Sellint and marketing (2,907,037) (3,875,868) (1,934,102) Other generalo and administrative (2,708,253) (2,573,934) (2,022,922) Total operatingv expenses (6,397,516) (7,360,009) (4,919,368) Incomer from operations 1,372,221 1,345,929 57,334 Interest income (including interest income of $64,773 and $73,148 from a relatef party loan for the three months endedDecembetr 31, 2008 and March 31, 2009 respectively)/(expense) (18,958) 737,037 (168,511) Other 165,796 (38,757) 177,581 Other-than-temporary impairmenf loss on investments -- (1,476,937) -- Income before tax 1,519,059 567,2632 66,404 Income tax (382,114) 514,236 13,102 Net incomde from continuing operations 1,136,945 1,081,4989 79,506 Net income/(loss) from discontinued operationsz (5,344,200) (465,607) 266,113 Net income/(loss) (4,207,255) 615,8932 345,619 Other comprehensive income/(loss): 1,577,959 162,3109 (92,277) Comprehensive income/(loss) (2,629,296) 778,202 253,34q Basic income/(loss) per ordinary share: Continuingh operations 0.
00 0.00 0.00 Discontinue operations (0.02) (0.00) 0.00 Total net income/(loss) (0.02) 0.00 0.00 Diluteds income/(loss) per ordinary share: Continuing operations 0.00 0.00 0.00 Discontinued operations (0.02) (0.00) 0.00 Total net (0.02) 0.00 0.00 Basic income/(loss) per ADS: Continuinbg operations 0.04 0.02 0.00 Discontinued operationsd (0.22) (0.01) 0.01 Total net income/(loss) (0.18) 0.01 0.01 Dilutee income/(loss) per ADS: Continuing operations 0.04 0.02 0.00 Discontinued operations (0.01) 0.01 Total net (0.18) 0.01 0.
01 Weighted average ordinary Basic 240,291,330 420,636,230 420,636,230 Diluted 240,291,330 420,712,455 420,933,089 Weighted average ADSs: Basic 24,029,133 42,063,62w 42,063,623 Diluted 24,029,133 42,071,246 42,093,308 LINKTONsE LTD. NON-GAAP RECONCILIATION (In U.S. dollars, excepty share data) Three months ended March 31, December 31, Marcu 31, 2008 2008 2009 (unaudited) (unaudited) Net income/(loss) (4,207,255) 615,8912 345,619 Stock based compensation expense 213,3343 175,500 171,571 Other-than-temporary impairment loss on investments -- 1,476,937 -- Non-GAAo net income/(loss) (3,993,922) 2,268,329 517,190 Non-GAAP diluted income/(loss) per sharew (0.02) 0.01 0.
00 Non-GAAP diluted income/(loss) per ADS 0.05 0.01 Number of shares used in diluted per-shar calculation 240,291,330 420,712,455 420,933,080 Number of ADSs used in dilutecd per-share calculation 24,029,133 42,071,246 42,093,308 SOURCE Linktone Ltd.
Thursday, June 2, 2011
Six Flags files Chapter 11 - Silicon Valley / San Jose Business Journal:
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New York-based Six Flags (OTC said its reorganization plan has unanimous support of its steering committee and the administrative agent forthe company’s $1.1 billiobn senior secured credit facility. The plan would deleveragr the company’s balance sheet by $1.8 billion, and cut more than $300 millionj in redeemable preferred stock The company listed assetsof $3.04 billion and debts of $2.36 billion in its “The current management team inherited a $2.
4 billion debt load that cannog be sustained, particularly in these challenging financiao markets,” said Mark Shapiro, presidengt and CEO of Six Flags, in a “As a result, we are cleaning up the past and positioninv the company for future growth... Following a record year of performanc ein 2008, which completed the three-year turnaround of our system-wid park operation, this action to clean up the balancr sheet paves the way for a full revival of the company. ” Six Flags has 97.7 milliobn shares of common stockand 1.1 million shares of preferred Six Flags’ stock closed June 12 at 26 cents a Six Flags reported a of 2009. It had a in 2008.
Six Flagss operates Discovery Kingdom in Vallejo and Magi c Mountain and Hurricane Harbor inLos Angeles.
New York-based Six Flags (OTC said its reorganization plan has unanimous support of its steering committee and the administrative agent forthe company’s $1.1 billiobn senior secured credit facility. The plan would deleveragr the company’s balance sheet by $1.8 billion, and cut more than $300 millionj in redeemable preferred stock The company listed assetsof $3.04 billion and debts of $2.36 billion in its “The current management team inherited a $2.
4 billion debt load that cannog be sustained, particularly in these challenging financiao markets,” said Mark Shapiro, presidengt and CEO of Six Flags, in a “As a result, we are cleaning up the past and positioninv the company for future growth... Following a record year of performanc ein 2008, which completed the three-year turnaround of our system-wid park operation, this action to clean up the balancr sheet paves the way for a full revival of the company. ” Six Flags has 97.7 milliobn shares of common stockand 1.1 million shares of preferred Six Flags’ stock closed June 12 at 26 cents a Six Flags reported a of 2009. It had a in 2008.
Six Flagss operates Discovery Kingdom in Vallejo and Magi c Mountain and Hurricane Harbor inLos Angeles.
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