Focus Media Press Release, 6/05/08
Chinese digital media group Focus Media (Nasdaq: FMCN) has announced its unaudited financial results for Q1 2008, with net revenues reaching USD 161.6 mln, up 214.7% year-on-year.
Net loss for the quarter came to USD 53.8 mln, compared to net income of USD 16.3 mln for the same period in 2007.
Digital out-of-home advertising revenue for the quarter was USD 108.7 mln, up 113.4% year-on-year, with advertising service revenue from its commercial location network, including LCD display networks, outdoor digital and non-digital billboard networks and movie theater advertising network growing 96.8% year-on-year to USD 62.3 mln. Advertising service revenue from its in-store network, including revenues from CGEN Digital Media Company Limited, was USD 17.3 mln, an increase of 160.2% year-on-year. Advertising service revenue from its in-elevator poster frame network grew 130.3% year-on-year to USD 29.2 mln
Internet advertising revenue was USD 49.6 mln.
The company estimates Q2 2008 revenues will range from USD 190 mln to USD 195 mln.
Editor's Note: To view Focus Media's full press release, please click here.