Focus posts loss in Q1

By Ding Yining | June 22, 2009, Monday |

Print Edition

A drop in its online advertising sales pushed Focus Media Holdings to a loss in the first quarter of the year, the firm said in a statement over the weekend.

The country's largest digital media group made an overall loss of US$5.7 million in the first three months, versus a loss of US$8 million in the previous quarter and a loss of US$53.8 million in the same period a year ago.

Its online ad sector suffered a loss of US$17.7 million in the three-month period, compared with a net profit of US$1 million in the same period last year, the statement said.

Its online ad revenue dived 25 percent to US$47.1 million in the January-March period from US$62.4 million in the previous quarter and was off 5 percent from the year-earlier period.

The firm generated US$19.2 million in ad income from movie theaters and traditional outdoor billboards in the first three months, a 17-percent rise year on year but it was lower 11 percent from the previous quarter.

The digital out-of-home, or LCD display, business made a net profit of US$12 million in the first quarter - a turnaround from the loss of US$54.6 million in the year earlier period.

Ad revenue from the LCD display business totaled US$34.4 million, a 41 percent tumble from the fourth quarter of last year and a decline of 25 percent from the same period a year ago.

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Focus posts loss in Q1

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