Monday, November 15, 2010


SpiceI2I: 3Q rev at $65.8m, +136.8%yoy 5.3%qoq, turning a profit of $2.7m over losses in both yoy and qoq largely due to forex gain of $3.9m. The gain arose from revaluation of rights issue and USD loan due to weak USD, excluding which, the co would have made a loss...

Gross margin actually fell qoq, from 24.7% 2Q10 to 21.1%, attributed to a shifting sales mix from voice business to handset sales. EPS of US0.17c. Note: Co has yet to remain profitable from core business, but in near-term b/s is sound and boosted by rights issue, adding US$100m to cash.

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