NQ Mobile’s third quarter financial results are out. In all modesty, we have to report that we’ve exceeded our own expectations – again. In a conference call conducted Monday, (11/12/2012), Co-Chief Executives Omar Khan and Dr. Henry Lin, and Chief Financial Officer, Suhai Ji discussed the company’s revenues, its financial status, its recent acquisitions and expectations for the future.
The discussion indicates that the explosive increase of smartphone sales, as well as some strategic growth moves have resulted in NQ Mobile’s consistent rise to the top as a robustly successful global company. From our news release:
Net revenues increased 127.4% year-over-year to $25.8 million from $11.3 million in the corresponding period of 2011, exceeding the high end of the Company’s previous guidance of $24 million to $25 million. Excluding revenue contribution of $4.5 million from the recently acquired Beijing NationSky Network Technology, Inc. (“NationSky”), net revenues increased 88.0% year over year to $21.3 million.
Suhai Ji told conference participants that Monday’s announcement marks the sixth consecutive quarter since NQ went public that we’ve delivered above and beyond our promises to shareholders. He, too, cites the “continued proliferation of mobile internet applications and increased awareness of mobile security among consumers worldwide,” as well as considerable revenue from the recently acquired NationSky, as factors in this quarter’s success.
In addition to our award-winning flagship product, NQ Mobile Security, the company has expanded our offerings this year to reach a wide ranging mobile audience. Family Guardian, our groundbreaking suite of services designed to protect smartphone-using kids, has quickly become a favorite among consumers. The award-winning Vault package provides users with a new level of privacy and and now offers private messaging with Facebook content. NQ’s Enterprise Shield and MMS or Mobile Managed Services through NationSky have made NQ Mobile a “trust services provider encompassing both consumer and enterprise segments.”
Dr. Lin and Omar Khan went on to discuss NQ Mobile’s agreement to acquire the controlling stake of Beijing Feiliu Jiutian Technology Co. (“Feiliu”) not already owned by NQ Mobile.
It’s been an exciting year for NQ Mobile, and 2013 promises to hold even more growth opportunities for the company and its shareholders with unique and effective security products designed to reach an ever-widening audience.