Charm Communications Q3 2012 Profit down 99% YoY
Charm Communications PR, 11/19/12
Chinese TV advertising firm Charm Communications (Nasdaq: CHRM) has announced its financial results for the three months ended September 30, 2012. Revenue for Q3 2012 declined 30.5% YoY and increased 35.7% QoQ to USD 48.8 mln.
Net income for the third quarter of 2012 declined 99.3% YoY and 46.6% QoQ to USD 0.1 mln.
Revenues from Charm's advertising agency business grew 47.3% YoY to USD 13.6 mln. The growth was attributed to the increase in the number of new agency clients and the increase in advertising spending from existing agency clients.
Revenues from Charm's media investment management business fell 42.8% YoY to USD 34.1 mln. The decrease was attributed to the company dropping several media assets at the beginning of 2012 to modify its media inventory mix and reduce risks in the wake of regulatory changes in the satellite market.
Revenues from brand and identity services fell 17.9% YoY to USD 1.1 mln.
In the third quarter of 2012, Charm's agency business had 167 advertisers, compared to 165 advertisers in the second quarter of 2012 and 148 advertisers in the third quarter of 2011.
In the third quarter of 2012, Charm's principal media business had 231 advertisers, compared to 207 advertisers in the second quarter of 2012 and 303 advertisers in the third quarter of 2011.
In October 2012, Charm Click was chosen as Baidu's official SEM agency for its European business for the period of September 1, 2012 through December 31, 2013. As Baidu's European SEM agency, Charm Click will promote Baidu's technology services across 42 countries.
The company estimates that Q4 2012 revenues will be in the range of USD 47-49.5 mln.
To view the complete report please see here.
Keywords: online search Internet TV advertising profit revenue television Charm Communications CHRM Q3 2012 fiscal report search advertising
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