Internet, LCDs help cut losses for Focus
By Xiao Ding |
March 18, 2010, Thursday
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Print Edition
Print Edition
NASDAQ-LISTED Focus Media posted a reduced fourth-quarter loss compared to the same period in 2008, helped by strength in two of its segments.
The Chinese digital advertising company said net loss in the fourth quarter was US$52.5 million, compared with US$802.5 million in the same period a year earlier.
Revenue stood at US$144.3 million, down 8 percent from a year ago.
Advertising income from its LCD display network jumped 8 percent year on year to US$64.1 million and Internet advertising revenue added 18 percent from a year ago to US$33.4 million.
"The recovery in the Chinese advertising market presented us with very good opportunities," said Jason Jiang, chairman and CEO of Focus Media.
"We'll continue to develop advertising networks for our LCD screen and poster frame in lower tier cities, which will help lay the foundation of our solid growth over the next three to five years."
The Chinese digital advertising company said net loss in the fourth quarter was US$52.5 million, compared with US$802.5 million in the same period a year earlier.
Revenue stood at US$144.3 million, down 8 percent from a year ago.
Advertising income from its LCD display network jumped 8 percent year on year to US$64.1 million and Internet advertising revenue added 18 percent from a year ago to US$33.4 million.
"The recovery in the Chinese advertising market presented us with very good opportunities," said Jason Jiang, chairman and CEO of Focus Media.
"We'll continue to develop advertising networks for our LCD screen and poster frame in lower tier cities, which will help lay the foundation of our solid growth over the next three to five years."
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