Vision China PR, 8/12/09
Shenzhen-based mass-transit digital advertising operator VisionChina Media (Nasdaq: VISN) has announced unaudited financial results for Q2 2009, with total revenues reaching USD 30.8 mln, up 51.8% YoY and 13.0% QoQ.
Net income attributable to VisionChina Media's shareholders was USD 7.1 mln in the second quarter of 2009, a decrease of 16.7% YoY, but an increase of 5.5% QoQ.
Total broadcasting hours reached 34,399 in Q2 2009, up 16.5% YoY and 5% QoQ. Average advertising revenues per broadcasting hour in Q2 2009 were USD 865, up 30.9% YoY and 9.2% QoQ. On average, VisionChina sold 6.4 advertising minutes per broadcasting hour in Q2 2009, down 21.4% YoY but up 13.9% QoQ. In Q2 2009, VisionChina sold a total of 220,063 advertising minutes in its advertising network, down 8.4% YoY but up 19.6% QoQ. During the second quarter of 2009, 274 advertisers purchased advertising time on VisionChina advertising network either directly or through advertising agents, up 2.6% QoQ.
The total number of cities covered by VisionChina Media's advertising network stood at 18 as of June 30, 2009, and included 82,349 total digital displays on buses, subway trains and platforms as well as other platforms, up 36.9% YoY and 0.8% QoQ.
VisionChina estimates total revenues in Q3 2009 to range from USD 30.7 mln to USD 32.1 mln and has revised guidance for the full year of 2009, now expecting total revenues to range from USD 121 mln to USD 124 mln.
To see VisionChina's full earnings report, please click here.