BEIJING, Aug. 20 /Xinhua-PRNewswire/ --
PACIFICNET INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited. In thousands of United States dollars,
except loss per share and share amounts)
FOR THE THREE MONTHS ENDED FOR THE SIX MONTHS ENDED
JUNE 30 JUNE 30
2007 2006 2007 2006
(restated) (restated)
Net revenues
Services $ 4,299 $ 4,300 $ 8,864 $ 8,035
Product sales 4,722 8,914 9,424 11,851
Total
net revenues 9,021 13,214 18,288 19,886
Cost of
revenues
Services (2,832) (2,909) (6,185) (5,486)
Product sales (3,828) (8,528) (7,203) (11,271)
Total
cost of
revenues (6,660) (11,437) (13,388) (16,757)
Gross Profit 2,361 1,777 4,900 3,129
Operating
expense:
Selling,
general and
administrative
expenses (1,798) (1,416) (3,365) (2,495)
Stock-based
compensation
expenses (60) (242)
Depreciation
and
amortization (216) (129) (388) (158)
Total
operating
expenses (2,014) (1,605) (3,753) (2,895)
Income from
continued
operations 347 172 1,147 234
Other income
(expenses)
Interest
expense, net (232) (341) (432) (393)
Gain/(loss) in
change in fair
value of
derivatives 20 208 81 208
Sundry income,
net 27 48 46 63
Total other
expenses (185) (85) (305) (122)
Income from
continued
operations
before income
taxes,
minority
interests 162 86 842 111
Provision for
income taxes 22 (13) (46) (30)
Share of
earnings of
associated
companies -- 52 49
Minority
interests (340) (179) (874) (265)
Income/(loss)
from continued
operations (156) (53) (78) (134)
Gain (loss)
from
discontinued
operations
(including
income (loss)
from
discontinued
operations) 400 850 630 1,732
Net income 244 796 552 1,597
Other
comprehensive
income/(loss):
Foreign
exchange
gain/(loss) (126) -- (97) (20)
Net
comprehensive
income $ 118 $ 796 $ 455 $ 1,578
Basic earnings
per share $ 0.02 $ 0.07 $ 0.05 $ 0.15
Diluted
earnings per
share $ 0.02 $ 0.07 $ 0.05 $ 0.13
Weighted
average number
of shares -
Basic 11,808,993 11,022,984 11,764,329 10,939,834
Weighted
average number
of shares -
Diluted 12,085,566 11,879,697 12,040,902 11,902,019
For more information, please contact:
PacificNet USA office:
Jacob Lakhany
Tel: +1-605-229-6678
PacificNet Beijing office:
Becky Zhao
Tel: +86-10-5922-5000
23rd Floor, Building A, TimeCourt,
No.6 Shuguang Xili, Chaoyang District,
Beijing, China 100028
PacificNet Shenzhen Office:
Tel: +86-10-3322-2088
Room 4203, JinZhongHuan Business Center,
Futian District, Shenzhen, China 518040
PacificNet Macau office:
Tel: +853-2870-4154
Unit A-C, 12th Floor, Edificio Commercial I Tak,
No. 126, Rua Da Pequim, Macau, China.
