Bona Q3 2012 Net Income Falls 83% YoY
Bona, 11/15/12
Chinese film distributor Bona Film Group (Nasdaq: BONA) has announced its financial results for the three months ended September 30, 2012. Net revenues for the third quarter of 2012 decreased 34.3% YoY to USD 24.6 mln. The decrease in net revenues was primarily due to declines in distribution and investment and production revenues, as the company distributed two films in the third quarter of 2012, compared with four films in the third quarter of 2011.
Net income attributable to the company was USD 1.30 mln, down 82.6% YoY from USD 7.47 mln a year before.
Net revenues from distribution totaled USD 10.6 mln. During the third quarter of 2012, Bona distributed two new films, Naked Weapon and The Lion Roars 2, and also recognized revenue from The Three Musketeers and Seefood, which were released in the second quarter of 2012.
Net revenues from film investment and production were USD 10.2 mln, mainly derived from Bona's investments in The Lion Roars 2, released in the third quarter of 2012, and also from sales of the company's television series Bodyguards and Assassins.
Net revenues from the movie theater segment increased to USD 10.8 mln, with the increase primarily attributable to the increase in the number of theaters and screens from the company's strategic expansion efforts. The company owned and operated 15 theaters as of September 30, 2012, compared with 11 as of September 30, 2011.
During the quarter, Bona announced a multi-picture agreement with Fox International Productions to co-produce and distribute Chinese language films throughout China.
To view the complete report please see here.
Keywords: film distribution revenue television BONA Bona Film Group Q3 2012 fiscal report
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