China Mass Media Records Q4 2011 Loss of RMB 18.5 Mln
PR Newswire Asia, 3/19/12
Chinese television advertising company China Mass Media (NYSE: CMM) today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2011, with total net revenue for the quarter down 31.1% YoY and down 9.3% QoQ to RMB 52.2 mln. Total net revenue for full-year 2011 sank 12.8% to RMB 212.3 mln.
Net loss for the quarter was RMB 18.5 mln, compared to a net profit of RMB 19.0 mln in Q4 2010. Net income for the full year reached RMB 15.0 mln, down 62.3%.
Revenues from advertising agency services in Q4 2011 reached RMB 49.6 mln, down 28.6% QoQ from RMB 69.4 mln in Q4 2010. Revenues from advertising agency services for the fiscal year fell 16.6% to RMB 185.3 mln, compared to RMB 222.3 mln in 2010.
Revenue from production and sponsorship services were RMB 5.6 mln in Q4 2011, down 51.3% YoY from RMB 11.4 mln, and up 68.9% QoQ from RMB 3.3 mln.
China Mass Media currently expects to generate total net revenues of between RMB 32-37 mln for Q1 2012. The expected range of net revenues represents a potential decrease of 27.3%-37.1% compared with Q1 2011 due to fewer media resources secured by the company and the continued pricing competition. This forecast reflects China Mass Media's current and preliminary estimate, which is subject to change.
To view China Mass Media's full fiscal report please click here.
Keywords: CMM loss revenue television fiscal report China Mass Media Q4 2011 TV advertising
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