VisionChina Posts Q3 2012 Loss of USD 14 Mln
VisionChina, 11/16/12
Chinese mass-transit digital advertising operator VisionChina Media (Nasdaq: VISN) has announced its financial results for the three months ended September 30, 2012. Q3 2012 revenues were USD 33.2 mln, representing a decrease of 34.0% YoY from USD 50.2 mln in the third quarter of 2011 and an increase of 18.2% QoQ from USD 28.1 mln in the second quarter of 2012.
Net loss attributable to shareholders was USD 14.3 mln, as compared to a net loss of USD 0.8 mln in Q3 2011 and a loss of USD 193.5 mln in Q2 2012.
Advertising service revenue, which accounted for 99.3% of total revenues in the third quarter of 2012, was USD 33.0 mln, representing a decrease of 34.4% YoY compared to the third quarter of 2011 and an increase of 17.4% QoQ compared to the second quarter of 2012.
The company generated revenue of USD 0.2 mln in respect of maintenance services provided to a subway company, representing 0.7% of its total revenues. There was no such maintenance revenue in the third quarter of 2011 or in the second quarter of 2012.
Total broadcasting hours in the third quarter of 2012 were 40,963 hours, compared to 43,778 hours in the third quarter of 2011 and 41,012 hours in the second quarter of 2012.
Average advertising revenue per broadcasting hour was USD 748 in the third quarter of 2012, compared to USD 1,122 in the third quarter of 2011 and USD 658 in the second quarter of 2012.
In the third quarter of 2012, the company sold a total of 299,510 advertising minutes in its network, compared to 465,756 advertising minutes in the third quarter of 2011 and 269,234 advertising minutes in the second quarter of 2012.
The company sold an average of 7.31 advertising minutes per broadcasting hour in the third quarter of 2012, compared to 10.64 advertising minutes per broadcasting hour in the third quarter of 2011 and 6.56 advertising minutes per broadcasting hour in the second quarter of 2012.
During the third quarter of this year, 577 advertisers purchased advertising time on the company's advertising network, either directly or through advertising agents, compared to 712 advertisers in the third quarter of 2011 and 558 advertisers in the second quarter of 2012.
The company estimates its advertising service revenue in the fourth quarter of 2012 to be between USD 26.0 mln and USD 28.0 mln.
To view the complete report please see here.
Keywords: VisionChina loss revenue subway television VISN Q3 2012 fiscal report in-vehicle display out-of-home display
Sending
