Sohu.com Profit Falls in Fourth Quarter - weakness in wireless business

From Yahoo finance: Sohu.com Profit Falls in Fourth Quarter

"For the latest quarter, net income fell to $6.5 million, or 17 cents per share, from $11.6 million, or 28 cents per share, a year ago. Revenue fell slightly to $24.1 million from $24.6 million, and gross margins fell to 68 percent from 72 percent. The latest figures matched the estimates of analysts surveyed by Thomson First Call.
For the full year, net income rose to $35.6 million, or 89 cents per share, from $26.4 million, or 66 cents per share, last year. Revenues grew to $103.2 million from $80.4 million in fiscal 2003. Analysts forecast a profit of 89 cents per share on revenue of 103.9 million."

""Fiscal year 2004 was a year of unprecedented online advertising success while we managed through a difficult operating environment in our wireless business," said Charles Zhang, chairman and chief executive."Read more