WiderThan's Q1 revenues up 29.6%

WiderThan posted very healthy first-quarter results that included revenue of $428.8 million, up 29.6 percent year-on-year. Profits were also up 12 percent at $2.8 million and cash-on-hand is $90.3 million. The company helped Verizon Wireless launch its VCast music service in January and has another crucial carrier relationship with KDDI in Japan. WiderThan said ringback tones fueled its growth, particularly in Asia, with 1.1 million ringback users worldwide. WiderThan is currently implementing a ringback tone service for Portuguese carrier TMN, a division of Portugal Telecom Group.

For more on WiderThan's Q1 results:
- see this article from DigitalMusicNews