Focus Media Press Release, 4/10/08
Digital media firm Focus Media (Nasdaq: FMCN), today revised its previously announced 2008 guidance for its mobile advertising business. Citing the company's new internal policy prohibiting its subsidiaries sending SMS messages without receiving mobile user's explicit permission, Focus Media said it expects 2008 full-year revenue from the mobile handset business to be between USD 14 mln to USD 15.8 mln, or USD 40 mln less than the previously announced range of USD 54 mln to USD 55.8 mln.
Accordingly, Focus Media has revised its 2008 full-year revenue guidance to USD 860 mln to USD 890 mln, down from the previously announced USD 900 mln to USD 930 mln, and 2008 full-year net income to USD 260 mln to USD 280 mln, down from the original guidance of USD 280 mln to USD 300 mln.
Editor's Note: To view the full details of Focus Media's press release, please click here.