AirMedia Raises Guidance for the Second Quarter of 2008
June 25 2008 - 10:10AM
PR Newswire (US)
BEIJING, June 25 /Xinhua-PRNewswire-FirstCall/ -- AirMedia Group
Inc. (NASDAQ:AMCN), the operator of the largest digital media
network in China dedicated to air travel advertising, today
announced that it expects its total revenues for the second quarter
of 2008 to be between US$29.0 million and US$30.0 million, which
represents a year-over-year increase of 242.4% to 254.2% from the
same period of 2007 and a sequential increase of 34.3% to 38.9%
from the first quarter of 2008. This compares to the previously
announced guidance of US$26.0 million to US$28.0 million in total
revenues, representing a year-over-year increase of 207.0% to
230.6% and a sequential increase of 20.4% and 29.7%. Despite the
impact of the Sichuan earthquake and the slowdown of air passenger
volume growth, AirMedia is able to raise guidance due to stronger
than expected results of all products lines, especially the digital
frame business. Herman Man Guo, Chairman and Chief Executive
Officer of AirMedia, commented, "During the second quarter, we have
expanded our digital frame network to another 16 major airports in
addition to Beijing Capital International Airport. We have now
built a national digital frame network, which will continue to
grasp market share from traditional media and be a solid foundation
for our continued growth in the coming years. We will further
expand our digital frame network to about 20 major airports in
total to further strengthen our leading market position as a
digital frame operator in the air travel advertising sector." About
AirMedia Group Inc. AirMedia Group Inc. (NASDAQ:AMCN) operates the
largest digital media network in China dedicated to air travel
advertising. AirMedia has contractual concession rights to operate
digital TV screens in 53 airports, including 29 out of the 30
largest airports in China, and has contractual concession rights to
place its programs on the routes operated by 9 airlines, including
the three largest airlines in China. In addition, AirMedia also has
contractual concession rights to operate TV-attached digital
frames, ranging from 46 to 50 inches, and large-size stand-alone
digital frames, ranging from 63 to 70 inches, in several major
airports. AirMedia also offers advertisers other media platforms in
airports, such as 360-degree LED displays, mega display screens,
and shuttle bus displays etc. For more information about AirMedia,
please visit http://www.airmedia.net.cn/ . Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "may," "would," "expect," "anticipate," "future," "intend,"
"plan," "believe," "estimate," "confident" and similar statements.
Among other things, the quotations from management in this
announcement, as well as AirMedia Group Inc.'s strategic and
operational plans, contain forward-looking statements. AirMedia may
also make written or oral forward-looking statements in its
periodic reports to the U.S. Securities and Exchange Commission on
Forms 20-F and 6-K, etc., in its annual report to shareholders, in
press releases and other written materials and in oral statements
made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements
about AirMedia's beliefs and expectations, are forward-looking
statements. Forward- looking statements involve inherent risks and
uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any
forward-looking statement. Potential risks and uncertainties
include, but are not limited to, if advertisers or the viewing
public do not accept, or lose interest in, our air travel digital
media network, we may be unable to generate sufficient cash flow
from our operating activities and our prospects and results of
operations could be negatively affected; we derive substantially
all of our revenues from the provision of air travel advertising
services, and if there is a downturn in the air travel advertising
industry, we may not be able to diversify our revenue sources; if
we are unable to retain existing concession rights contracts or
obtain new concession rights contracts on commercially advantageous
terms that allow us to place or operate the digital TV screens in
airports or on airplanes, we may be unable to maintain or expand
our network coverage and our business and prospects may be harmed;
a substantial majority of our revenues are currently concentrated
in the five largest airports and three largest airlines in China,
and if any of these airports or airlines experiences a material
business disruption, our ability to generate revenues and our
results of operations would be materially and adversely affected;
AirMedia's limited operating history makes it difficult to evaluate
our future prospects and results of operations; and other risks
outlined in AirMedia's filings with the U.S. Securities and
Exchange Commission. AirMedia does not undertake any obligation to
update any forward-looking statement, except as required under
applicable law. For more information, please contact: Investor
Contact: Raymond Huang Investor Relations Director Tel:
+86-10-8460-8678 Email: FD Beijing Julian Wilson Tel:
+86-10-8591-1951 Email: DATASOURCE: AirMedia Group Inc. CONTACT:
Investor Contact: Raymond Huang, Investor Relations Director,
+86-10-8460-8678, or ; FD Beijing - Julian Wilson, +86-10-
8591-1951, or Web Site: http://www.airmedia.net.cn/
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