Xunlei Limited Announces Management Changes; Announces Unaudited Consolidated Financial Results for the Third Quarter Ended September 30, 2015; Provides Revenue Guidance for the Fourth Quarter of 2015
November 18, 2015 at 05:00 pm
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Effective immediately, Xunlei Limited's board of directors has appointed Mr. Lei Chen, the Company's Chief Technology Officer, as Co-Chief Executive Officer. Simultaneously, Mr. Chen resigned as Xunlei's Chief Technology Officer, a post he has held since joining the company in November 2014. Mr. Chen has a wealth of industry experiences in cloud computing, software architecture and online infrastructure from his previous roles at Tencent, Google, and Microsoft.
The company announced unaudited consolidated financial results for the third quarter ended September 30, 2015. For the quarter, the company reported net revenues of $33,417,000 against $31,091,000 a year ago. Operating loss was $1,955,000 against $3,189,000 a year ago. Loss from continuing operations before income taxes was $2,877,000 against income from continuing operations before income taxes of $2,142,000 a year ago. Net loss from continuing operations was $3,284,000 or $0.0091 per basic and diluted share against net income from continuing operations of $3,096,000 or $0.0099 per basic and diluted share a year ago. Net loss attributable to common shareholders was $3,558,000 or $0.0106 per basic and diluted share against 1,015,000 or $0.0030 per basic and diluted share a year ago. Total loss per ADS, basic and diluted was $0.0528 against $0.0151 a year ago. Loss from continuing operations per ADS, basic and diluted was $0.0453 against earnings from continuing operations per ADS, basic and diluted of $0.0496 a year ago. Non-GAAP operating income was $672,000 against non-GAAP operating loss of $824,000 a year ago. Non-GAAP loss from continuing operations was $657,000 against non-GAAP income from continuing operations of $5,461,000 a year ago. Non-GAAP loss per ADS attributable to continuing operations, diluted was $0.0083 against non-GAAP earnings per ADS attributable to continuing operations, diluted was $0.0849 a year ago. Non-GAAP loss per share for common shares attributable to continuing operations, basic and diluted was $0.0013 non-GAAP earnings per share for common shares attributable to continuing operations, basic and diluted of $0.0170 a year ago.
For the fourth quarter of 2015, the company estimates total revenues from continuing operations to be between $31 million to $34 million.
Xunlei Limited is a China-based innovator in shared cloud computing and blockchain technology. The Company operates an Internet platform in China based on cloud computing to enable users to access, manage and consume digital media content. The Company's acceleration products and services include Xunlei Accelerator, which enables users to accelerate digital transmission over the Internet, and cloud acceleration subscription services, which offer user services for speed and reliability. The Company's Xunlei Accelerator allows users to accelerate digital transmission over the Internet. Xunlei Accelerator also bridges users with diverse needs to other services it offers, such as Xunlei Media Player, which supports both online and offline video watching, and its various online games, including Web games and massively multiplayer online games (MMOGs), by recommending and providing links to these services on its user interface.
Xunlei Limited Announces Management Changes; Announces Unaudited Consolidated Financial Results for the Third Quarter Ended September 30, 2015; Provides Revenue Guidance for the Fourth Quarter of 2015