 Yangtze Telecom Corp. (TSX
VENTURE:SMS), operating in Mongolia as NCB Co, Ltd. reported a 29 percent
increase in quarterly profits for the period ending June 29, 2007.
Revenues for the quarter were
$241,000, a 29 percent increase over $187,000 in the same quarter last
year.
Besides its Mongolia operation,
Yangtze Telecom operates through two subsidiaries in China - wholly-owned
Wuhan Chengxi Information Technology Company Ltd. ("ChengXi")
and 65 percent owned China United Telecom Technology Company ("UTT").
Breakdowns of its sources of
revenue showed an increase of 161 V in Voice revenue from the introduction
of new information services, while UTT sales decreased by 64 percent,
reflecting a temporary slowdown in both the Education and Credit Management
System business.
After launching its Mongolian
wireless digital TV service in March 2007, NBC recorded 287 new subscribers
in the current quarter, compared with 68 in the last quarter. NBC sales
revenue for the quarter, being earned from subscriptions, was $15,000
vs. $1,000 in the 1st quarter.
"The subscription rate
in our wireless digital TV service in Ulaanbaatur has been slower than
expected in these early months. What is encouraging, is that this steady
growth is accomplished with virtually no advertising and promotion.
We fully expect to overcome this immediate pressure on our working capital
in Mongolia," said Emily Chen, President of Yangtze Telecom.
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