Earnings: Hurray Revenue Falls 3.3 Percent

Chinese mobile content vendor Hurray has reported first quarter revenues fell 0.9 percent year-on-year to $16.6 million. Revenues from mobile content fell 3.3 percent year-on-year to $14.9 million. Total gross profit was $5.4 million for the first quarter of 2007, representing a decline of 10.2 percent as compared with $6.1 million for the first quarter of 2006.
Hurray, which traditionally sells various ringtone products, is dealing with the downturn in the ringtone industry and recently-introduced rules covering ringtone vendors, and is moving into content production. (release)

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