Kingsoft's Income Slumps 26% QoQ, 11% YoY

   Date:2010/05/27     Source:

Kingsoft (3888.HK) generated net income of RMB 89.74 million in the first quarter of 2009, down 26% quarter-on-quarter and 11% year-on-year, the company reported May 25. Revenues for the quarter decreased 18% sequentially and increased 4% annually to RMB 245.70 million, of which entertainment software business revenues declined 19 % sequentially and 1% annually to RMB 161.74 million, the report said. The quarter-on-quarter decrease was primarily due to seasonality and the company's termination of its license for Shui Hu Q Zhuan ("Hero 108") in November, 2009, according to the report.

Kingsoft recorded daily average peak concurrent users (PCU) over the quarter of 915,212, down 19% on a quarterly basis and 4% on an annual basis, while monthly average revenue per paying user (ARPU) declined 5% sequentially to RMB 36, flat with last year, the report said.

Kingsoft's applications software business contributed RMB 82.23 million in the quarter, representing a decline of 15% quarter-on-quarter and an increase of 14% year-on-year, while paying subscribers to Kingsoft Internet Security reached 8.4 million, with a monthly ARPU of RMB 2.0, down 5% quarter-on-quarter and up 5% year-on-year, said the report.

Kingsoft reported fourth quarter 2009 profit growth of 75% quarter-on-quarter to RMB 120.84 million.


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