The total revenue for the first quarter was 23.1 million dollars.

The Nasdaq:amap software today released its first-quarter results, as of March 31, 2014, without an audit. Financial results showed that the first quarter of Gold's total revenue of 23.1 million U.S. dollars, the same period last year, 34.3 million U.S. dollars, a net loss of 46 million U.S. dollars, the same period last year net profit of 5.7 million dollars.

Financial results for the first quarter of 2014

Revenue

The total revenue for the first quarter was $23.1 million, down from $34.3 million in the 2013 period and 31.5 million in the fourth quarter of 2013.

Automotive Navigation Business

In the first quarter, net revenue from the automotive navigation business was 14.5 million dollars, down from $15.5 million in the same period in 2013, and 18.6 million in the fourth quarter of 2013. This is partly due to the fact that the current client BMW's part of the new car has turned to other map data providers, as well as a mix of average selling price declines. At present, the German software business still contains more mid-range cars, so the average price is lower.

Mobile and Internet location solutions

In the first quarter, net revenue from the mobile and Internet location Solutions business was $6.5 million, down from $13.9 million in the 2013 period, to $8.9 million in the fourth quarter of 2013. This decline was mainly due to the decision of the high technology software in August 2013 to provide users with advanced navigation applications free of charge.

Public and business applications

In the first quarter, net revenue from public and business applications was $1.8 million, down from $4.3 million in the same period in 2013, and 3.1 million in the fourth quarter of 2013. This decline was mainly due to the fact that the German software adjusts its internal resources to support and develop mobile services.

Revenue costs

The first quarter's revenue cost was $12.6 million, more than $10.4 million in the same period in 2013, and less than 13.7 million in the fourth quarter of 2013. The year-on-year increase in revenue costs reflects the continued investment of the German software development location database, which is mainly due to lower cost of data production outsourced. Excluding share-price costs, non-US GAAP revenue costs are $12.4 million trillion, up from $10.2 million a year earlier, below $14 million trillion in the fourth quarter of 2013.

Operating costs

In the first quarter, the total operating cost was $55.1 million, up from $20.8 million in the same period in 2013, and 51.2 million in the fourth quarter of 2013. The increase in operating costs was mainly due to the investment in the mobile Internet by the German software. Excluding share-price costs, non-US GAAP operating costs are $42.6 million trillion, up from $18.2 million a year earlier, below $44.9 million in the fourth quarter of 2013.

In the first quarter, the cost of research and development was $24.1 million, up from $10.6 million in the same period in 2013 and 20.4 million in the fourth quarter of 2013. This growth is mainly due to the growth of the total number of research and development personnel, as well as the increase in stock compensation costs. Non-US General accounting standards research and development costs, excluding equity costs, are $20.8 million trillion, up from $9.6 million a year earlier, and $18 million trillion in the fourth quarter of 2013.

In the first quarter, sales and marketing costs were 17.1 million dollars, higher than the 5.8 million in 2013, and 17 million in the fourth quarter of 2013. Year-on-year growth is mainly due to the promotion of mobile products spending. Excluding share-price costs, non-US GAAP sales marketing costs are $15.9 million trillion, up from $4.9 million a year earlier, below $16.6 million trillion in the four quarter of 2013.

In the first quarter, the average management cost was $13.8 million, up from $4.4 million in 2013, compared with $13.8 million in the fourth quarter of 2013. Year-on-year growth was mainly due to higher stock remuneration and professional service fees. Excluding share-pay costs, non-US general accounting standards are typically managed at $6 million trillion, up from $3.7 million a year earlier, below $10.2 million in the fourth quarter of 2013.

Exchange losses

The 6.2 million dollar exchange loss in the first quarter came as a result of the depreciation of renminbi bank deposits against the dollar.

Net loss attributable to high-German software shareholders

In the first quarter, the net loss to shareholders of the High German software was $46 million, compared with a net profit of $5.7 million in the same period in 2013 and a net loss of $28.2 million in the fourth quarter of 2013. The net loss of the shares of ads owned by High German software shareholders was $0.84, compared with a net profit of $0.12 for each share in the same period last year, and 0.40 USD for each share in the fourth quarter of 2013. The ads represent 4 shares per share of the software.

Excluding the cost of share compensation, the first quarter, the non-US general accounting standards attributable to the High German software shareholders of the net loss of 33.5 million U.S. dollars, while the same period in 2013 was a net profit of 8.4 million U.S. dollars, the fourth quarter of 2013 was a net loss of 22.1 million U.S. dollars. Non-US general accounting standards, which belong to the software shareholders of high Germany, have a net loss of $0.61 per share of ads, compared to $0.17 per share in the same period in 2013, and a net loss of $0.31 for each share in the fourth quarter of 2013.

Cash and term deposits

As of March 31, 2014, the German software held 439.4 million dollars in cash, cash equivalents and bank deposits.