NQ Mobile Inc (ADR) (NYSE:NQ), the global mobile security, privacy, and productivity software firm, has just released its earnings report for the fourth quarter of the 2013 fiscal year. The full press release is copied below.

NQ Mobile

Press Release Below:

BEIJING and DALLAS, April 10, 2014 /PRNewswire/ — NQ Mobile Inc. (ADR) (NYSE:NQ), a leading global provider of mobile internet services, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2013.

(Logo: http://photos.prnewswire.com/prnh/20121224/CN34262LOGO)

Fourth Quarter of 2013:

  • Record Net Revenues of $67.9 million, Up 126.0% Year-over-Year
  • Expect Net Revenues for Q1 2014 to be between $75 and $76 million

Fiscal Year 2013:

  • Record Net Revenues of $196.7 million, Up 114.3% Year-over-Year
  • Mobile Value Added Service revenues were $103.5 million, up 51.5% Year-over-Year
  • Advertising revenues were $36.6 million, up 312.0% Year-over-Year
  • Enterprise Mobility revenues were $53.0 million, up from $12.6 million for the three quarters in 2012
  • Expect 2014 Net Revenues to be between $320-$325 million

Fourth Quarter 2013 Highlights

  • Net revenues increased 126.0% year-over-year to $67.9 million.
  • Loss from operations was $4.7 million. Non-GAAP income from operations[1] increased 60.9% year-over-year to $12.6 million.
  • Net loss attributable to NQ Mobile was $5.2 million resulting in GAAP fully diluted loss per ADS of ($0.09). Non-GAAP net income attributable to NQ Mobile[2] was up 20.8% year-over-year to $14.9 million resulting in non-GAAP fully diluted earnings per ADS[3] (one ADS represents five Class A common shares) of $0.22 for the fourth quarter of 2013.
  • Diluted weighted average number of ADS outstanding increased to 60.3 million in the fourth quarter of 2013 from 56.9 million in the previous quarter. Non-GAAP weighted average number of diluted ADS[4] outstanding increased to 66.9 million in the fourth quarter of 2013 from 63.0 million in the previous quarter.

Fiscal Year 2013 Highlights

  • Net revenues for fiscal year 2013 increased 114.3% year-over-year to $196.7 million.
  • Loss from operations for fiscal year 2013 was $4.5 million compared to income from operations of $2.3 million in 2012.  Non-GAAP income from operations for fiscal year 2013, increased 98.7% year-over-year to $53.3 million from $26.8 million in 2012.
  • Net loss attributable to NQ Mobile for fiscal year 2013 was $2.8 million, compared with net income attributable to NQ Mobile of $9.4 million in 2012. This resulted in GAAP fully diluted loss per ADS of ($0.05). Non-GAAP net income attributable to NQ Mobile[2] for fiscal year 2013, increased 70.1% year-over-year to $57.8 million. This resulted in non-GAAP fully diluted earnings per ADS[3] of $0.94 for the fiscal year 2013.
  • Diluted weighted average number of ADS outstanding increased to 54.8 million in the fiscal year 2013 from 51.1 million in 2012. Non-GAAP weighted average number of diluted ADS[4] outstanding increased to 61.2 million in the fiscal year 2013 from 51.1 million in 2012.

The Company’s non-GAAP financial measures and related reconciliations to GAAP financial measures are described in the accompanying sections of “Non-GAAP Financial Measures” and “Non-GAAP Measure Reconciliations”.

Fourth Quarter and Fiscal Year 2013 Operating Metrics

  • Cumulative registered user accounts[5] of consumer mobile security products were 480.8 million as of December 31, 2013, compared with 426.6 million as of September 30, 2013 and 283.4 million as of December 31, 2012. Including 106.9 million registered user accounts for Beijing Feiliu Jiutian Technology Co., Ltd (“FL Mobile”), NQ Mobile had total registered user accounts of 587.7 million as of December 31, 2013.
  • Average monthly active user accounts[6] of consumer mobile security products for the quarter ended December 31, 2013 were 136.0 million, compared with 97.7 million for the corresponding period of 2012 and 133.0 million for the quarter ended September 30, 2013. Including FL Mobile’s 20.4 million average monthly active user accounts, NQ Mobile had total average monthly active user accounts of 156.4 million for the quarter ended December 31, 2013.
  • Average monthly premium user accounts[7] for the quarter ended December 31, 2013 were 15.6 million, compared with 14.8 million for the quarter ended September 30, 2013.
  • FL Mobile operated and distributed 20
1, 2345678910111213141516  - View Full Page