Non-operating income for the second quarter of 2007 included a gain of US$0.8 million from the sale of an investment, while non-operating income for the second quarter of 2006 included a US$2.0 million gain from the sale of the Company's interest in a joint venture.

    Net income for the second quarter of 2007 was US$14.5 million, compared to US$10.4 million in the same period last year and US$8.6 million last quarter. Diluted net income per share for the second quarter of 2007 was US$0.25, compared to US$0.18 in the same period last year and US$0.15 last quarter. Non- GAAP net income for the second quarter of 2007 totaled US$16.1 million, compared to US$12.3 million in the same period last year and US$11.4 million in the previous quarter. Non-GAAP diluted net income per share for the second quarter of 2007 was US$0.27, compared to US$0.21 in the same period last year and US$0.19 last quarter.

    As of June 30, 2007, Sina's cash, cash equivalents and short-term investments totaled US$415.2 million, compared to US$312.5 million and US$382.7 million as of June 30, 2006 and March 31, 2007, respectively. Cash flow from operating activities for the second quarter of 2007 was US$20.9 million, compared to US$8.1 million for the same period last year and US$16.6 million last quarter.