NQ Mobile Inc. Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Revenue Guidance for the First Quarter and Full Year of 2015
For the full year, the company reported net revenues were increased 68.9% year-over-year to $332.3 million from $196.7 million in 2013. Loss from operations was $81.0 million, compared with an operating loss of $4.5 million in fiscal year 2013. Non-GAAP income from operation, which excludes share-based compensation and expenses incurred for the handling of short seller allegations, was decreased 76.7% year-over-year to $12.4 million from $53.3 million in 2013. Net loss attributable to company was $76.7 million compared with net loss of $1.9 million in 2013. Non-GAAP net income attributable to company, which excludes share-based compensation, expenses incurred for the handling of short seller allegations and interest expenses related to convertible debts, was $26.2 million compared with $57.8 million in 2013. Net cash provided by operating activities was $6.2 million. Loss before income taxes was $73,094,000 against $216,000 a year ago. Net loss per diluted share was $0.1902 against $0.0068 a year ago. Non-GAAP net income attributable to company per diluted ADS was $0.3033 against $0.9449 a year ago.
The company expects net revenues to be in the range of $450.0 million to $455.0 million for the full year 2015, representing a 36% to 37% year-over-year increase.
Net revenues for the first quarter of 2015 are expected to be in the range of $85.0 million to 86.0 million, representing a 7% to 8% year-over-year increase.