VisionChina PR, 3/02/10
Chinese mass-transit digital advertising operator VisionChina Media (Nasdaq: VISN) has issued its earnings report for the fourth quarter and full year 2009. Total revenues in the fourth quarter of 2009 dropped 7.29% year-over-year but increased 3.4% quarter-over-quarter to USD 31.8 mln. Full year revenues increased 16.0% YoY to USD 120.7 mln.
Net income attributable to VisionChina Media shareholders in the fourth quarter of 2009 was USD 5.6 mln, a decrease of 21.6% QoQ and 62.16% YoY. For the full year, net income decreased 43.2% to USD 26.6 mln, from USD 46.8 mln in 2008.
Looking forward, the company expects a number of factors will negatively impact its revenue in the short term, including industry competition, restructuring its sales force and integrating its acquisition of Digital Media Group, which will limit sales visibility for the first quarter of 2010. The company estimates total revenue for Q1 2010 will be no less than USD 22 mln.
To see the full earnings report, please click here.