VisionChina Media PR, 3/13/12
Chinese mass-transit digital advertising operator VisionChina Media (Nasdaq: VISN) today announced its unaudited financial results for the fourth quarter and full-year ended December 31, 2011. Revenue for Q4 2011 was USD 53.4 mln, up 6.2% QoQ and 18.9% YoY. Revenue for the full-year 2011 was USD 181.2 mln, up 31.2% compared to full-year 2010.
Net profit attributable to VisionChina Media shareholders in Q4 2011 was USD 1.7 mln, compared to a Q3 2011 net loss of USD 0.8 mln and Q4 2010 net loss of USD 44.7 mln. Net loss attributable to VisionChina Media shareholders for the full-year 2011 was USD 12.5 mln, compared to a net loss of USD 151.3 mln in full-year 2010.
As of December 31, 2011, VisionChina Media's network covered 20 cities (down from 23 as of December 31, 2010) either secured by exclusive agency agreements or joint venture contracts, and included 137,423 digital displays on mass transit systems.
Total broadcasting hours in VisionChina Media's network in Q4 2011 were 41,463 hours, down from 43,778 hours in Q3 2011.
VisionChina Media sold an average of 8.95 advertising minutes per broadcasting hour in Q4 2011, down from 10.64 advertising minutes per broadcasting hour in Q3 2011.
Average advertising revenue per broadcasting hour in VisionChina Media's network was USD 1,217 in Q4 2011, up from USD 1,122 in Q3 2011.
Total broadcasting hours in VisionChina Media's network were 175,498 hours in the full-year 2011, compared to 195,366 hours in the full-year 2010.
VisionChina Media sold an average of 8.78 advertising minutes per broadcasting hour in the full-year 2011, compared to an average of 6.75 advertising minutes per broadcasting hour in the full-year 2010.
VisionChina Media estimates its advertising service revenue in Q1 2012 to be between USD 27.0 mln and USD 28.0 mln. Q1 2012 net loss attributable to VisionChina Media shareholders excluding share-based compensation expenses, amortization of intangible assets and provision for contingent loss in connection with a litigation (non-GAAP) is estimated to be between USD 17.0 mln and USD 18.0 mln. VisionChina Media estimates that advertising service revenue during the first quarter of 2012 will be negatively affected by seasonality. VisionChina Media expects that the seasonal impact will be short-term in nature and that the Company's advertising service revenue will increase in subsequent quarters.
These estimates are based on an exchange rate of RMB 6.3523 per USD 1.00.
To view VisionChina Media's full fiscal report, please click here.