Investors Applaud Sina's Q4 Pre-Announcement Lowering Expectations; Ad Revenue Range Raised (SINA)

From Sina's (ticker: SINA) press release earlier today:

Based on preliminary unaudited results, the Company anticipates its total revenues for the fourth quarter in the range of $51.0 million and $52.0 million, compared to the previous target range of $51.0 million and $53.0 million, as announced on November 3, 2005. The Company also expects to report fourth quarter non-GAAP net income in the range of $12.0 million and $13.0 million, compared to the previous target range of $14.0 million and $15.0 million.

The Company attributes the lower than expected non-GAAP net income for the fourth quarter of 2005 primarily to the continued softness in its mobile value-added services (MVAS) business in China and the associated higher costs as well as higher than expected operating expenses. Advertising revenues are expected to be between $24.5 million and $25.0 million, compared to previous guidance of between $24.0 million and $25.0 million. Non-advertising revenues are expected to be between $26.5 million and $27.0 million, compared to previous guidance of between $27.0 million and $28.0 million.

These results are preliminary, and, therefore, subject to the Company's completion of the customary quarterly closing and audit procedures.

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