Highlights Total revenues were $4.42 million; performance advertising revenue increased continuously and accounted for 79.2% of total revenues in the quarter
The Company recorded its first gross profit of $0.19 million; net loss was $3.94 million, the lowest since Ku6 Media became public in 2010
The Company has solidified its leading position in User Generated Content (UGC); contracted Value Creating User (VCU) reached 5,000, number of videos uploaded daily reached 200,000, and monthly Unique Visitors (UV) reached 220 million in February 2012, according to Ku6 Media's internal data
Partnership with YouTube announced in January 2012, to allow Ku6 Media's international users to view original videos from China
Business results for fiscal year 2011
Total revenues from continuing operations for fiscal year 2011, representing advertising revenue from online video portal and online audio operations, were $19.22 million, compared to $16.56 million for the fiscal year 2010.
Gross loss from continuing operations was $11.66 million for the fiscal year 2011, compared to $23.90 million for the fiscal year 2010.
Operating expenses from continuing operations were $37.91 million for the fiscal year 2011, compared to $29.70 million for the fiscal year 2010.
Net loss from continuing operations was $49.39 million for the fiscal year 2011, compared to $53.54 million for the fiscal year 2010.
Net loss attributable to Ku6 Media was $49.34 million for the fiscal year 2011, compared to $51.51 million for the fiscal year 2010.
Net loss attributable to Ku6 Media per basic and diluted ADS was $1.16 for the fiscal year 2011, compared to $1.67 for the fiscal year 2010. Weighted average ADSs used to calculate diluted net loss per ADS were 42.7 million for the fiscal year 2011 and 31.0 million for the fiscal year 2010.
EBITDA was a loss of $43.28 million for the fiscal year 2011, compared to a loss of $46.32 million for the fiscal year 2010.
Mr. Jeff Shi, Chief Executive Officer of Ku6 Media, commented, "Through the successful strategic transition starting in the second quarter of 2011, Ku6 Media has firmly established itself as the leader in UGC in China, with nearly 200, 000 video clips being uploaded on daily basis in February of 2012. Our Value Creating User (VCU) program, started in August 2011, has now recruited more than 5, 000 contracted VCUs, who enjoy financial rewards according to video views their uploads attract. According to Ku6 Media's internal tracking data, monthly unique visitors (UV) have reached 220 million in February 2012. With continuous efforts in cost and expense reduction, in the fourth quarter of 2011 we have achieved our first quarterly gross profit and cut our quarterly net loss to its lowest level since Ku6 Media became public in 2010. We are confident that these improvements will build a solid foundation for steady and sustainable growth."
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