Press Releases, 8/11/08
Chinese digital media network operator AirMedia Group (Nasdaq: AMCN) has announced its unaudited financial results for Q2 2008, with net revenues reaching USD 29.8 mln, up 251.6% year-on-year and 37.9% quarter-on-quarter.
Net income for the quarter came to USD 7.3 mln, up 241.8% YoY and 0.7% QoQ.
Q2 revenues from digital frames in airports grew 63.4% sequentially to USD 11.0 mln, compared to nil in the same period one year ago. Revenues from digital TV screens in airports were 13 mln, up 166% YoY and 31.7% QoQ. Revenues from digital TV screens on airplanes were 4.6 mln, up 80.7% YoY and 19.5% QoQ.
The company estimates total 2008 revenues will reach between USD 122.4 mln to USD 126.4 mln, representing a year-on-year increase of 180.6% to 189.8% from fiscal year 2007.
To see AirMedia';s full earnings report, please click here.