Hurray Records USD 4.9m Q1 Profit
Hurray Press Release, 5/23/08
Wireless value-added service (WVAS) provider Hurray (Nasdaq: HRAY) has announced its unaudited financial results for Q1 2008, with net revenues reaching USD 13.2 mln, down 19.5% year-on-year and 16.7% quarter-on-quarter.
Net income for the quarter came to USD 4.9 mln, compared to a loss of USD 31.6 mln in Q4 2007, and net income of USD 956,000 in Q1 2007.
First quarter wireless value-added services ("WVAS") revenues were USD 11.0 mln, representing a slight increase quarter-on-quarter and a decline of 26.3% year-on-year.
Recorded music revenues from its record label businesses were USD 2.2 mln, representing a decline of 54.1% quarter-on-quarter, but growth of 47.9% year-on-year.
The company estimates Q2 2008 total consolidated revenues will be between USD 13 mln and USD 14 mln.
To view the full version of Hurray's earnings report, please click here.
Keywords: SP HRAY Hurray music Q1 2008 record label wireless WVAS fiscal report
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