PWRD

[BigSully1]

 


Perfect World Co., Ltd.
8th Floor Hua Kong Building
No 1 Shangdi East Road Haidian District
Beijing,  100085
China - Map
Phone: 86 10 5885 8555
Fax: 86 10 5885 1012
Web Site: http://www.wanmei.com/en/index.htm

DETAILS  
Index Membership: N/A
Sector: Technology
Industry: Application Software
Full Time Employees: 430


BUSINESS SUMMARY  
Perfect World Co., Ltd. operates as an online game developer and operator in the People's Republic of China. It primarily develops three-dimensional (3D) online games based on its proprietary Angelica 3D game engine and game development platform. Its 3D massively multiplayer online role playing games (MMORPG) include Perfect World, an adventure and fantasy game with traditional Chinese settings; Legend of Martial Arts, which is based on a TV drama series with the same Chinese name and is an adventure story of Chinese swordsmen set in an ancient kingdom; Perfect World II, which is set in a similar content and graphic background as Perfect World; and Zhu Xian, which is based on a popular Internet novel with the same name. The company is also developing two additional 3D MMORPGs, which are Chi Bi and a casual game, Hot Dance Party. Perfect World Co., Ltd. was founded in 2004 and is based in Beijing, the People's Republic of China.
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Source: Perfect World Co., Ltd.


Perfect World Announces Third Quarter 2007 Financial Results
Thursday November 8, 9:49 pm ET


BEIJING, Nov. 8 /Xinhua-PRNewswire/ -- Perfect World Co., Ltd. (Nasdaq: PWRD - News; "Perfect World" or the "Company"), a leading online game developer and operator in China, today announced its unaudited financial results for the third quarter ended September 30, 2007

   Third Quarter 2007 Highlights(1)
   * Total revenues were RMB213.9 million (USD28.5 million),
     an increase of 65% from 2Q07 and 1,474% from 3Q06
   * Gross profit was RMB178.5 million (USD23.8 million),
     an increase of 72% from 2Q07 and 1,808% from 3Q06
   * Operating profit was RMB116.4 million (USD15.5 million),
     an increase of 114% from 2Q07 and a significant turnaround
     from an operating loss of RMB14.9 million in 3Q06
   * Net income was RMB123.3 million (USD16.5 million),
     an increase of 136% from 2Q07 and a significant
     turnaround from a net loss position of RMB14.9 million in 3Q06
   * Basic and diluted earnings per ADS were RMB2.51 (USD0.33)
     and RMB2.18 (USD0.29), respectively, as compared to basic and
     diluted earnings per ADS of RMB1.67 and RMB1.06, respectively,
     in 2Q07, and loss per ADS was RMB0.52 in 3Q06
   * Aggregate average concurrent users (ACU) for games under
     operation was approximately 513,000, an increase of 15%
     from 2Q07 and 335% from 3Q06
   * Active paying customers (APC) for games under item-based
     revenue model was approximately 1,390,000, an increase of
     34% from 2Q07
   * Average revenue per active paying customer (ARPU) for games
     under item-based revenue model was RMB136, an increase of 39%
     from 2Q07
   * Successfully launched expansion packs for every game under
     operation
   * High-quality customer services evidenced by official receipt
     of ISO9001:2000 customer service certificate
   * Launched "The Perfect Storm" marketing campaign, one of our
     largest multi-site and multi-format marketing campaigns

   (1) The U.S. dollar (USD) amounts disclosed in this press release
       are presented solely for the convenience of the reader.  The
       conversion of Renminbi (RMB) into USD in this release is based on
       the noon buying rate in The City of New York for cable transfers in
       RMB per USD as certified for customs purposes by the Federal Reserve
       Bank of New York as of September 28, 2007, which was RMB7.4928 to
       USD1.00.  The percentages stated are calculated based on RMB.

"We are pleased to report that Perfect World has achieved solid financial results in the third quarter of 2007," said Mr. Michael Chi, Chairman and Chief Executive Officer of Perfect World. "We posted strong growth during the quarter, largely as a result of the effective execution of our strategy. As a part of this, we developed a number of effective marketing campaigns and further strengthened our position in China through the successful launch of expansion packs for every game under operation. We are also very proud to have received the ISO9001:2000 certificate for customer service from the SGS Group, which clearly demonstrates that our highly rated games are coupled with world-class customer service."

"With our successful initial public offering and listing of ADSs on the NASDAQ Global Market in July 2007, we achieved a very important milestone in our corporate history and significantly enhanced our ability to execute our strategy." Mr. Chi continued, "We plan to build a diversified game portfolio, further improve our user experience, expand internationally, strengthen our leading edge technology, and pursue strategic acquisitions, partnerships and alliances when appropriate. Given our successful track record of quickly introducing popular games that cater to the changing preferences of game players in China, I believe that we are well positioned to achieve our goals."

Third Quarter 2007 Financial Results

Total Revenues

Total revenues for 3Q07 were RMB213.9 million (USD28.5 million), which represented an increase of 65% from RMB129.7 million in 2Q07 and an increase of over 14 times from RMB13.6 million in 3Q06.

Online game operation revenues for 3Q07 were about RMB197.4 million (USD26.4million), an increase of 77% from RMB111.5 million in 2Q07 and an increase of 1,353% from RMB13.6 million in 3Q06. The substantial year-over- year and sequential increases in online game operation revenues were primarily related to continued strong performance of the Company's existing games, and significant contribution of revenues from "Zhu Xian" since its launch on May 28, 2007. The successful launch of "Zhu Xian" on May 28, 2007 had a greater impact on online game operation revenues in the third quarter of 2007 since it only contributed revenues for one month in 2Q07. The Company also experienced an increase in aggregate ACU of the games under operation. The ACU for 3Q07 was approximately 513,000, an increase of 15% from 446,000 in 2Q07 and an increase of 335% from 118,000 in 3Q06. The overall increase in ARPU and APC contributed to the growth of revenues as well. The ARPU for games under item- based revenue model in 3Q07 was RMB136, an increase of 39% from RMB98 in 2Q07. The APC for games under item-based revenue model in 3Q07 was approximately 1,390,000, an increase of 34% from 1,040,000 in 2Q07.

Overseas licensing revenues for 3Q07 were RMB16.4 million (USD2.2 million), a decrease of 10% from RMB18.2 million in 2Q07. The decrease in overseas licensing revenues was mainly because royalty income generated from the Taiwan market decreased by approximately RMB3.3 million, or 29%, compared to 2Q07.

Cost of Revenues

The cost of revenues for the third quarter of 2007 was RMB35.4 million (USD4.7 million), which represented an increase of 37%, or RMB9.6 million from RMB25.8 million in 2Q07 and an increase of 736%, or RMB 31.2 million from RMB4.2 million in 3Q06 respectively. The rise from 2Q07 was mainly due to an increase of RMB3.4 million in VAT and other related taxes and an increase of RMB4.7 million in Internet Data Center (IDC) costs, both of which were results of growth of online game operation revenues. The rise from 3Q06 was primarily a result of the expansion of game portfolio. While the Company had only two games under operation in 3Q06, it had four games under operation in the third quarter of 2007.

Gross Profit and Gross Margin

Gross profit for 3Q07 was RMB178.5 million (USD23.8 million), which represented an increase of 72%, or RMB74.5 million from RMB103.9 million in 2Q07, and a significant increase from RMB9.4 million in 3Q06. Gross margin was 83.4% in 3Q07, which increased from 80.1% in 2Q07 and 68.8% in 3Q06. The sequential improvement in gross margin was mainly due to a rapid revenue growth, a cost saving from using more self-owned servers and less leased servers, and a better utilization of servers and IDC resources.

Operating Expenses

Operating expenses were RMB62.0 million (USD8.3 million) for the third quarter of 2007, an increase of 25% from RMB49.5 million in 2Q07, and an increase of 156% from RMB24.3 million in 3Q06. The sequential increase in operating expenses was mainly attributed to higher R&D expenses, sales and marketing expenses, and general and administrative expenses.

R&D expenses increased by 25%, or RMB2.7 million from RMB10.9 million in 2Q07 to RMB13.6 million (USD1.8 million) in 3Q07, which was primarily due to an increase of R&D headcount. The R&D headcount was 274 as of June 30, 2007, as compared to 323 as of September 30, 2007.

Sales and marketing expenses increased by 17% or RMB5.6 million from RMB32.3 million in 2Q07 to RMB37.9 million (USD5.1 million) in 3Q07. The increase was largely due to the Company's ongoing marketing campaigns to promote its existing games under operation.

General and administrative expenses increased by 68%, or RMB4.2 million from RMB6.3 million in 2Q07 to RMB10.5 million (USD1.4 million) in 3Q07, primarily due to the expenses associated with a company outing and the share- based compensation expenses incurred for share options granted to two independent directors and some other employees in 3Q07.

The year-over-year increase of operating expenses was primarily a result of the expansion of the Company's business.

Operating Profit

Operating profit in 3Q07 was RMB116.4 million (USD15.5 million), an increase of 114%, or RMB62.0 million from RMB54.5 million in 2Q07, and a significant turnaround from an operating loss of RMB14.9 million in 3Q06.

Income Tax Expenses

Income tax expenses were RMB2.4 million (USD0.3 million) in 3Q07, which was a decrease of 18% from RMB2.9 million in 2Q07. There were no income tax expenses in 3Q06. The sequential decrease in income tax in 3Q07 was primarily a result of a decrease in overseas revenues in 3Q07.

Net Income

Net income in 3Q07 was RMB123.3 million (USD16.5 million), an increase of 136%, or RMB71.0 million from RMB52.4 million in 2Q07, and a significant turnaround from a net loss of RMB14.9 million in 3Q06. Basic and diluted earnings per ADS were RMB2.51 (USD0.33) and RMB2.18 (USD0.29), respectively, in 3Q07, as compared to basic and diluted earnings per ADS of RMB1.67 and RMB1.06, respectively, in 2Q07, and loss per ADS was RMB0.52 in 3Q06.

Cash and Cash Equivalents

As of September 30, 2007, the Company had RMB1.4 billion (USD188.7 million) of cash and cash equivalents, an increase of 499% from RMB236.2 million as of June 30, 2007, and an increase from RMB101.4 million as of December 31, 2006. The increase was mainly due to the net proceeds collected from the IPO and net cash inflow generated from the Company's online game operations.

Third Quarter 2007 Other Developments

Trademark and Copyright for "Chi Bi", a self-developed game to be launched

Perfect World has registered Chi Bi's copyright with the State Copyright Bureau, Beijing Branch and obtained a copyright registration certificate. A publishing number for Chi Bi has been obtained as well. Previously, Perfect World filed a trademark application for the Chinese name "Chi Bi" under Category 41 with the Trademark Office of the State Administration for Industry and Commerce in China in October 2006.

Cooperation Agreement with the Movie "Red Cliff"

In September 2007, the Company announced that it had entered into a cooperation agreement with China Firm Group Corporation ("CFGC"), to jointly market Perfect World's game "Chi Bi" and the movie "Red Cliff" directed by John Woo. The game and the movie have the same name in Chinese.

Recent Business Developments

* On November 3, 2007, the Company announced that it had entered into new overseas licensing agreement for "Perfect World II" with PT. Lyto Datarindo Fortuna ("LYTO") in Indonesia.

* On November 6, 2007, the Company announced that it had entered into new overseas licensing agreement with Nival Online to license the Company's "Perfect World II" game in Russia and other Russian-speaking countries and regions.

The latest licensing arrangements further demonstrate that Perfect World is keen on executing its international expansion plan to capture significant opportunities overseas.

Business Outlook

Based on the Company's current operations, total revenues for the fourth quarter of 2007 are expected to be between RMB200 million and RMB215 million. This represents a flat to mild decline on a sequential basis and primarily reflects the Company's especially strong performance in the third quarter of 2007.

The Company expects to launch closed beta testing for Chi Bi by early December after finishing internal testing. In addition, since Perfect World expects to co-promote its "Chi Bi" game with the movie "Red Cliff," the Company is still in the process of determining the best timing to commercially launch the game.

The Company also expects to launch small-scale closed beta testing for its new game, "Hot Dance Party," by the end of 2007. "Hot Dance Party" is the Company's first 3D casual game, and as such, the Company anticipates that a few rounds of fine tuning of some of the game's innovative features may be needed before it is commercially launched.

Conference Call

Perfect World will host a conference call and live webcast at 8:00am Eastern Time (EDT) (9:00pm, Beijing time) on Friday, November 9, 2007.


   The dial-in details for the live conference call are as follows:

   -- U.S. Toll Free Number +1-877-847-0047
   -- International dial-in number +852-3006-8101
      Passcode: PWRD

A live and archived webcast of the conference call will be available on the Investors section of Perfect World's website at http://www.pwrd.com .

A telephone replay of the call will be available after the conclusion of the conference call through 9:00 a.m. Eastern Time, November 16, 2007.


   The dial-in details for the replay are as follows:

   -- U.S. Toll Free Number +1-877-847-0047
   -- International dial-in number +852-3006-8101
      Passcode: 176501

About Perfect World Co., Ltd.

Perfect World Co., Ltd. (Nasdaq: PWRD - News) is a leading online game developer and operator in China. Perfect World primarily develops three-dimensional ("3D") online games based on the proprietary Angelica 3D game engine and game development platform. The Company's strong technology and creative game design capabilities, combined with extensive local knowledge and experience, enable it to frequently and rapidly introduce popular games designed to cater to changing customer preferences and market trends in China. The Company's current portfolio of self-developed 3D massively multiplayer online role playing games ("MMORPGs") consists of "Perfect World," "Legend of Martial Arts," "Perfect World II" and "Zhu Xian." The Company uses a time-based revenue model for "Perfect World," and an item-based model for "Legend of Martial Arts," "Perfect World II" and "Zhu Xian." While most revenues are generated in China, the Company's games have been licensed to leading game operators in over ten countries and regions. The Company plans to continue to explore new and innovative business models and remains deeply committed to maximizing shareholder value over time.

Safe Harbor Statements

This press release contains forward-looking statements. These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, the management's quotations and "Business Outlook" contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, our limited operating history, our dependence on four games for substantially all of our revenues, our ability to develop and operate new games that are commercially successful, the growth of the online game market and the continuing market acceptance of our games and in-game items in China and elsewhere, our ability to protect our intellectual property rights, our ability to respond to competitive pressure, our ability to maintain an effective system of internal control over financial reporting, and changes of the regulatory environment in China. Further information regarding these and other risks is included in Perfect World's filings with the U.S. Securities and Exchange Commission, including its registration statement on Form F-1. All information provided in this press release and in the attachments is as of November 9, 2007, and Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.




                        Perfect World Co., Ltd.
                      Consolidated Balance Sheets

                            Audited     Unaudited    Unaudited   Unaudited
                         December 31,   June 30,   September 30, September 30,
                              2006         2007         2007        2007
                              RMB          RMB          RMB         USD

   Assets
    Current assets
        Cash and cash
         equivalents      101,356,892 236,166,827 1,413,568,927 188,656,968
        Accounts
         receivable         5,570,756    9,756,685   18,833,203   2,513,507
        Prepayment and
         other assets       6,700,732   27,862,250   23,249,713   3,102,940
        Deferred tax
         assets               237,639      610,256      982,649     131,146
        Total current
         assets           113,866,019 274,396,018 1,456,634,492 194,404,561
        Non current
         assets
        Property and
         equipment, net    10,578,722   25,571,786   39,015,958   5,207,127
        Intangible
         assets, net        2,740,165    2,231,607    1,977,327     263,897
                                                                    213,731
        Prepaid expenses      344,955      327,653    1,601,441
        Deferred tax assets        --      527,786      467,438      62,385

   Total assets           127,529,861 303,054,850 1,499,696,656 200,151,701

   Liabilities and
      Shareholders' Equity
   Current liabilities
   Accounts Payable         6,746,791   11,381,831   13,878,208   1,852,206
   Advance from customers  20,449,444   32,221,813   58,721,092   7,837,002
   Salary and welfare
    payable                10,175,358   12,006,505   15,420,778   2,058,081
   Taxes payable            5,330,698   11,051,347   14,062,984   1,876,866
   Accrued expenses and
    other liabilities       7,224,240   15,993,275   23,599,149   3,149,577
   Due to related parties     126,900           --           --          --
   Deferred revenue        32,976,470   75,107,630  103,357,923  13,794,299
   Deferred government
    grants                  1,000,000    2,500,000    2,500,000     333,654
        Total current
         liabilities       84,029,901  160,262,401  231,540,134  30,901,685
     Deferred revenue              --    5,301,213    5,206,209     694,828
   Total liabilities       84,029,901  165,563,614  236,746,343  31,596,513

   Commitments
   Shareholders' Equity

   Series A  convertible
    preferred shares (US
    0.0001 par value,
    80,000,000 shares
    authorized, issued and
    outstanding as of
    December 31, 2006;
    none issued and
    outstanding as of
    September 30, 2007)    61,796,533   61,796,533           --          --
   Ordinary shares (US
    0.0001 par value,
    9,920,000,000 shares
    authorized,
    154,285,720 Class A
    ordinary shares
    issued and outstanding
    as of  December
    31, 2006 and
    91,309,730 Class A
    ordinary shares and
    187,975,990 Class B
    ordinary shares issued
    and outstanding
    as of September 30,
    2007)                     123,400      123,400      221,081      29,506
   Additional Paid-in
    Capital                45,898,257  47,591,610 1,120,131,306 149,494,356
   Receivables from
    shareholders             (126,808)          --           --          --
   Statutory reserves         160,698      160,698      160,698      21,447
   (Accumulated deficit)
    / retained earnings   (64,352,120)  28,021,201  151,362,993  20,201,125
   Accumulated other
    comprehensive
    income                         --     (202,206)  (8,925,765) (1,191,246)
   Total Shareholders'
    Equity                 43,499,960 137,491,236 1,262,950,313 168,555,188
   Total Liabilities and
    Shareholders' Equity  127,529,861 303,054,850 1,499,696,656 200,151,701



                      Perfect World Co., Ltd.
          Unaudited Consolidated Statements of Operations

                                          Three months ended
                            September    June 30,   September   September
                            30, 2006       2007      30, 2007    30, 2007
                              RMB          RMB          RMB         USD

   Revenues
   Online game operation
    revenues              13,585,243   111,527,683  197,444,414  26,351,219
   Overseas licensing
    revenues                      --    18,179,553   16,422,947   2,191,830
   Total Revenues         13,585,243   129,707,236  213,867,361  28,543,049
   Cost of revenues       (4,233,360)  (25,762,448) (35,405,618) (4,725,285)
   Gross profit            9,351,883   103,944,788  178,461,743  23,817,764
   Operating expenses
   Research and
    development
   expenses               (4,816,081)  (10,899,521) (13,590,762) (1,813,843)
   Sales and marketing
    expenses              (9,122,112)  (32,289,398) (37,904,624) (5,058,806)
   General and
    administrative
   expenses              (10,336,579)   (6,291,902) (10,539,458) (1,406,611)
   Total operating
    expenses             (24,274,772)  (49,480,821) (62,034,844) (8,279,260)
   Operating (loss) /
    profit               (14,922,889)   54,463,967  116,426,899  15,538,504
   Other income/(expenses)
        Interest income      181,953       764,249    9,594,555   1,280,503
        Others, net         (118,669)       25,544     (298,604)    (39,852)
   (Loss) / profit before
    tax                  (14,859,605)   55,253,760  125,722,850  16,779,155
   Income tax expense             --    (2,892,291)  (2,381,058)   (317,780)

   Net (loss) / profit   (14,859,605)   52,361,469  123,341,792  16,461,375
   Series A convertible
    preferred
    shares accretion        (509,549)           --           --          --
   Cumulative unearned
    dividends of
   Series A Preferred
    Shares                  (226,719)     (765,382)    (207,878)    (27,744)
   Net (loss) / profit
    attributable to
    ordinary shareholders(15,595,873)   51,596,087  123,133,914  16,433,631
   Net (loss) / earnings
    per share, basic           (0.10)         0.33         0.50        0.07
   Net (loss) / earnings
    per share,
   diluted                     (0.10)         0.21         0.44        0.06
   Net (loss) / earnings
    per ADS, basic             (0.52)         1.67         2.51        0.33
   Net (loss) / earnings
    per ADS,
    diluted                    (0.52)         1.06         2.18        0.29

   Shares used in
    calculating basic net
    earnings per share    150,124,226  154,285,720  245,318,329 245,318,329
   Shares used in
    calculating diluted
    net earnings
    per share             150,124,226  246,869,700  282,331,579 282,331,579

   Total share-based
    compensation
    cost included in:
   Cost of revenues             (374)      (30,956)     (31,815)     (4,246)
   Research and
    development
    expenses                 (44,713)     (366,928)    (377,776)    (50,419)
   Sales and marketing
    expenses                  (5,111)     (232,961)    (282,867)    (37,752)
   General and
    administrative
    expenses              (8,204,365)     (563,479)  (1,920,586)   (256,324)




                       Perfect World Co., Ltd.
           Unaudited Consolidated Statements of Cash Flows

                                           Three months ended
                            September 30, June 30,    September   September
                                 2006       2007      30, 2007    30, 2007
                                 RMB         RMB         RMB        USD
   Cash flows from operating
    activities:

   Net (loss) / profit       (14,859,605)52,361,469 123,341,792  16,461,375
   Adjustments for:
     Share-based
      compensation cost        8,254,564  1,194,324   2,613,044     348,741
     Depreciation and
      amortization expense       330,215  1,265,370   2,015,326     268,968
   Exchange loss                 285,510    372,415     302,708      40,400
   Changes in assets and
    liabilities:
    Accounts receivable         (871,639)(3,354,185) (9,076,518) (1,211,365)
    Prepayments and other
     assets                     (139,569)(15,605,811)(8,160,418) (1,089,101)
    Deferred tax assets         (238,689)  (146,831)   (312,045)    (41,646)
    Due from/to related
     parties                     324,000         --          --          --
    Prepaid expenses                  --     45,428  (1,273,788)   (170,002)
    Accounts payable             349,927  7,022,588  (1,438,383)   (191,969)
    Advance from customers     2,942,438  8,122,347  26,499,279   3,536,632
    Salary and welfare
     payable                   1,803,251  6,241,361   3,414,273     455,674
    Taxes payable               (978,449) 6,333,824   3,011,637     401,937
    Accrued liabilities        2,780,139 10,204,830   4,194,478     559,801
    Deferred revenue           4,244,545 19,869,151  28,155,289   3,757,646
    Government grant                  --  1,500,000          --          --
   Net cash provided by
    operating activities       4,226,638 95,426,280 173,286,674  23,127,091

   Cash flows from investing
    activities:
    Purchase of property,
     equipment, and software   (189,916) (17,947,851) (5,428,898)   (724,549)
    Purchase of intangible
     assets                  (1,220,000)          --          --          --
    Net cash used in
     investing activities    (1,409,916) (17,947,851) (5,428,898)   (724,549)

   Cash flows from financing
     activities:
    Proceeds from issuance of
     Series A convertible
     preferred shares,
     net of issuance costs    54,510,729        --           --          --
    Proceeds from IPO, net of
     issuance costs                   --        --  1,018,570,591 135,939,916
    Net cash provided by
     financing activities     54,510,729        --  1,018,570,591 135,939,916

    Net increase in cash      57,327,451 77,478,429 1,186,428,367 158,342,458

    Foreign exchange
     translation                (285,510)  (574,621) (8,723,559) (1,164,259)
    Effect of exchange rate
     changes                          --         --    (302,708)    (40,400)
    Cash and cash
     equivalents, beginning
     of the period             3,733,912 159,263,019 236,166,827  31,519,169

    Cash and cash
     equivalents, end of the
     period                  60,775,853 236,166,827 1,413,568,927 188,656,968
   Supplemental schedule of
     non-cash financing
     activities:
    Issuance of 5,714,290
     ordinary shares to
     SAIF                      2,498,573         --          --          --
    Issuance of 5,000,000
     Series A
     convertible preferred
     shares to existing
     shareholders              3,971,025         --          --          --
    Conversion of Series A
     preferred shares into
     common shares                    --         --  61,796,533   8,247,455
    Cash paid during the
     period for income
     taxes                      (238,689)(2,732,371) (2,005,418)   (267,646)



   For further information, please contact:

    Perfect World Co., Ltd.
    Vivien Wang
    Investor Relation Officer
    Tel:   +86-10-5885-1813
    Fax:   +86-10-5885-6899
    Email: [email protected]

    Christensen Investor Relations
    Brett Rose
    Tel:   +1-480-614-3013
    Fax:   +1-480-614-3033
    Email: [email protected]

    Jung Chang
    Tel:   +852-2117-0861
    Fax:   +852-2117-0869
    Email: [email protected]

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http://stockcharts.co/h-sc/ui?s=PWRD&p=D&b=5&g=0&id=p52582051386

[BigSully1]

nice ER yesterday