Jingwei Q3 2010 Profit Up 96% YoY
PR Newswire, 11/12/10
Shenzhen-based interactive marketing firm Jingwei International (Nasdaq: JNGW) today announced its financial results for the third quarter ended September 30, 2010. Total revenue increased 18.8% year-over-year to USD 10.4 mln.
Net income for the period increased 95.7% year-over-year to USD 2.74 mln.
Revenue from data mining fell 2.7% YoY to USD 5.31 mln. Revenue from software services rose 54.2% YoY to USD 5.1 mln.
CEO Rick Luk said software services sales were driven by strong demand from major telecom carriers to support IPTV/DTV deployment. Data mining segment revenues fell slightly this period, reflecting quarter-to-quarter variation in the timing of new contracts. In addition, Jingwei signed two framework agreements with China Unicom (NYSE: CHU; 0762.HK; 600050.SH) in Zhejiang province in October, to partner with China Unicom to provide mobile Internet and interactive marketing services in the region.
Jingwei reaffirms its previous guidance for fiscal year 2010 of total revenues between USD 37.5 mln and USD 42.0 mln and net income between USD 8.8 mln and USD 9.8 mln.
To view Jingwei's complete financial report, please click here.
Keywords: WVAS telecom software advertising mobile advertising Rick Luk IPTV DTV China Unicom CHU 0762.HK 600050.SH mobile data guidance profit revenue telecom Jingwei International JNGW Q3 2010 fiscal report
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