Qihoo 360 Technology Co. Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported total revenues of $22,929,000, loss from operations of $20,210,000, loss before income tax expense and loss from equity method investment of $19,943,000, net loss attributable to company of $21,445,000 compared to the total revenues of $69,276,000, income from operations of $14,446,000, income before income tax expense and loss from equity method investment of $19,813,000, net income attributable to company of $14,066,000 for the same quarter year ago. Net cash provided by operating activities was $5,044,000 compared to the $25,808,000 for the same quarter year ago. Purchase of property and equipment and intangible assets was $1,772,000 compared to the $5,877,000 for the same quarter year ago. Net income attributable to company excluding share-based compensation (non-GAAP) was $25.7 million, representing an increase of 290.5% from $6.6 million in the first quarter of 2011. The year-over-year and quarter-over-quarter increases in revenues were mainly due to continued robust growth in both online advertising and Internet value-added services. Diluted EPADS for the first quarter of 2012 were $0.12, and diluted EPADS for the first quarter of 2012 excluding share-based compensation (non-GAAP) were $0.21. For the second quarter of 2012, the company expects revenues to be between $72 million and $73 million, representing a year-over-year increase of 105% to 108%. In light of its significantly expanded business operations, the company has appointed Ms. Jue Yao as Co-CFO, alongside Mr. Alex Xu, effective immediately, to further enhance its financial reporting, internal control, strategic investment and investor relations capabilities. Ms. Jue Yao has been company's vice president of finance since 2008 and served as its financial director from 2006 to 2008. Both Mr. Xu and Ms. Yao's responsibilities will remain unchanged.