-- Net revenues are expected to reach $12.0 million and income from
operations is expected to grow to $6.0-$6.5 million for 2007
-- Net revenues are expected to reach $25.0 million and income from
operations is expected to grow to $11.0-$12.0 million for 2008
XI'AN, China, Sept. 18 /Xinhua-PRNewswire-FirstCall/ -- ALONG Mobile Technologies Inc. (OTC Bulletin Board: AGMB) ("ALONG", "the Company"), a leading mobile value-added services ("MVAS") provider in China, today announced guidance for net revenues and income from operations for 2007 and 2008.
For 2007, ALONG expects to generate net revenue of $12.0 million, an increase of about 87% from 2006 net revenue of $6.4 million. Income from operations is expected to be in the range of $6.0 to $6.5 million, as compared with income from operations of $3.2 million in 2006. Net revenue for 2008 is expected to reach $25.0 million and income from operations is expected to be in the range of $11.0 to $12.0 million.
Revenue and profit growth will be driven by the continued expansion of the Mobile Information & Entertainment Service Platform ("MIESP") in eastern parts of China as well as a diversified service portfolio. During the first half of 2007, ALONG has made significant progress in expanding its MIESP Network in eastern parts of China by installing 2000 downloading terminals in Anhui Province. The Company will continue to execute on its expansion strategy and plans to add an additional 1500 terminals in Shanghai over the next few quarters. ALONG expects these terminals to contribute significantly to its revenue growth in 2008. In addition ALONG expects its top and bottom lines to benefit from the expansion in the scope of its business resulting from newly developed products and successful industry cooperation. The Company has successful cooperation agreements with more than 25 partners, including Rock Stone, Tang Tu Technology, UBI Soft, In-fusio, and Chuang Jia Network for entertainment content as well as for sharing its proprietary distribution network.
Commenting on ALONG's outlook for 2007 and 2008, Mr. Jianwei Li, ALONG's Chief Executive Officer, said, "We believe that our 2007 and 2008 results will benefit from the expansion of distribution network, the introduction of new products and services and profitable sharing of our MIESP network with our business partners."
"We believe we are well positioned to participate in the expected rapid growth of the mobile value-added services in China, with the right strategies and a management team with extensive industry experience that can continue the successful execution of ALONG's business plan. However, this guidance is based on such factors as our ability to continue to develop attractive applications and services, our access to the necessary capital to expand our business and network, as well as the growth of MVAS market and the economy of China as a whole," Mr. Li concluded.
About ALONG
Incorporated in the State of Nevada, ALONG Mobile Technologies Inc. is a Chinese based mobile value-added services ("MVAS") provider of wireless interactive entertainment products and services in the People's Republic of China (the "PRC" or "China"). Shaanxi Jialong Hi-Tech Industries Co. Ltd, subsidiary of ALONG, was founded in Shaanxi Province China in 2002. Consumers can download wireless applications including Ring-tones, games, images, videos and e-books on a fee-basis by means of the Company's proprietary downloading terminals. For more information about ALONG, please visit http://www.alonggame.com .
Safe Harbor Statement
This press release contains certain statements that may include
"forward-looking statements". All "forward-looking statements", other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website ( http://www.sec.gov ). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact:
ALONG Mobile Technologies, Inc.
Michael Wang, CFO
Tel: +86-29-8836-0097
Fax: +86-29-8836-0090
Email: michaelwang@alonggame.com
Web: http://www.alonggame.com
CCG Elite Investor Relations
Crocker Coulson, President
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Ed Job, CFA
Tel: +1-646-213-1914
