Air travel advertising company AirMedia Group Inc (Nasdaq: AMCN) has announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2007.
Net revenue for the quarter increased 168.6% year-on-year and 54.0% quarter-on-quarter to USD 15.6 mln. Net revenue for the fiscal year increased 132.1% year-on-year to USD 41.6 mln.
Q4 revenues from digital TV screens in airports increased 219.6% year-on-year and 35.3% quarter-on-quarter to USD 9.4 mln. Revenues from digital TV screens on airplanes increased 107.9% year-on-year and 62.4% quarter-on-quarter to USD 4.1 mln.
Net income for the quarter increased 273.1% year-on-year to USD 6.1 mln, however AirMedia made a net loss for the year of USD 5.1 mln, compared to a net profit of USD 4.1 mln in 2006.
AirMedia expects total revenues in the range of USD 19.0-21.0 mln for Q1 2008, representing a 130.0%-155.2% year-on-year increase for the quarter.