Marbridge Daily

<- May 29, 2012 ->

Focus Media Q1 2012 Profit Up 85% YoY

Focus Media PR, 5/28/12

Chinese digital media and Internet advertising operator Focus Media (Nasdaq: FMCN) has today announced its unaudited financial results for the first quarter ended March 31, 2012. Net revenue for Q1 2012 was USD 199.6 mln, down 22.2% QoQ and up 36.2% YoY.

Net income attributable to Focus Media for Q1 2012 was USD 37.9 mln, up 85% YoY.

Aggregate net revenue from the LCD display network, in-store network, poster frame network and movie theater network for Q1 2012 was USD 184.3 mln, which exceeded by approximately 4% the mid-point of Focus Media's guidance range of USD 177-179 mln. This represented an increase of 35% YoY from USD 136.1 mln for Q1 2011.

Non-GAAP net income attributable to Focus Media for Q1 2012 was USD 61.6 mln, exceeding the mid-point of the company's guidance range of USD 58-60 mln by 4% and up 45% YoY from non-GAAP net income attributable to Focus Media of USD 42.4 mln for Q1 2011.

Advertising net revenue from the LCD display network was USD 87.6 mln for Q1 2012, up 6% YoY from USD 82.5 mln for Q1 2011.

Advertising net revenue from the poster frame network was USD 65.7 mln for Q1 2012, up 2% QoQ from USD 64.5 mln in Q4 2011 and up 82% YoY from USD 36.1 mln for Q1 2011.

Advertising net revenue from the in-store network was USD 12.7 mln for Q1 2012, down 21% QoQ from USD 16.1 mln for Q4 2011 and up 34% YoY from USD 9.5 mln for Q1 2011.

Advertising net revenue from the movie theater network was USD 18.4 mln for Q1 2012, down 11% QoQ from USD 20.8 mln for Q4 2011 and up 130% YoY from USD 8.0 mln for Q1 2011.

Advertising net revenue from the traditional outdoor billboard network was USD 15.3 mln for Q1 2012, down 13% QoQ from USD 17.6 mln for Q4 2011 and up 46% YoY from USD 10.5 mln for Q1 2011.

As of March 31, 2012, Focus Media had a total of 163,276 LCD screens; of which, 128,901 were LCD screens, and 34,375 were LCD 2.0 picture screens.

As of May 28, 2012, Focus Media has cumulatively spent USD 491 mln in share repurchases out of the share repurchase program totaling USD 650 mln. Focus Media spent an additional USD 35.4 mln in share repurchases between April 1, 2012 and May 28, 2012.

Net revenues for the core business (inclusive of the LCD display network, the in-store network, the poster frame network and the movie theater network) are expected to be in the range of USD 211-213 mln, the mid-point of which would represent year-on-year growth of 28% and quarter on quarter growth of 15%. Net revenues for the non-core business (the traditional outdoor billboard network) are expected to be in the range of USD 13-15 mln. Focus Media's non-GAAP net income is expected to be in the range of USD 78-80 mln. Focus Media estimates the weighted average fully diluted ADS count for the quarter at 133.8 mln, assuming no further share repurchases during the quarter.

To view Focus Media's full fiscal report please click here.

 

Keywords:  television  Focus Media  digital media  guidance  outdoor  profit  revenue  fiscal report  advertising  FMCN  Q1 2012  out-of-home display 

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