BEIJING, Jan. 2, 2013 /PRNewswire-Asia-FirstCall/ --
AirMedia Group Inc. ("AirMedia" or the "Company") (Nasdaq: AMCN), a
leading operator of out-of-home advertising platforms in
China targeting mid-to-high-end
consumers, today announced that it expects its net revenues for the
fourth quarter of 2012 to be between US$81.0
million and US$83.0 million, as compared to the previously
announced net revenue guidance of US$77.0 million to
US$80.0 million. The updated net
revenue guidance represents a quarter-over-quarter increase of
13.5% to 16.3% from the previous quarter and a year-over-year
decrease of 2.3% to 4.7% from the same period in 2011.
"Our diversified customer base enabled us to compensate for the
adverse impact from the anti-Japan
protests in China and raise our
fourth quarter net revenue guidance. In the fourth quarter, we saw
more declines in advertising from Japanese brands, especially
Japanese automobile manufacturers. However, the increase in
advertising spending from other automobile brands and continued
growth from other advertising sectors more than offset the loss in
Japanese brands. We will continue to further expand and diversify
our customer base in 2013," commented Herman Guo, chairman and chief executive officer
of AirMedia.
The above forecast reflects AirMedia's current and preliminary
view and is therefore subject to change. Please refer to the Safe
Harbor Statement below for the factors that could cause actual
results to differ materially from those contained in any
forward-looking statement.
About AirMedia Group Inc.
AirMedia Group Inc. (Nasdaq: AMCN) is a leading operator of
out-of-home advertising platforms in China targeting mid-to-high-end consumers.
AirMedia operates the largest digital media network in China dedicated to air travel advertising.
AirMedia operates digital frames in 34 major airports and digital
TV screens in 34 major airports, including most of the 30 largest
airports in China. In addition,
AirMedia sells advertisements on the routes operated by nine
airlines, including the four largest airlines in China. In selected major airports, AirMedia
also operates traditional media platforms, such as billboards and
light boxes, and other digital media, such as mega LED screens.
In addition, AirMedia has obtained exclusive contractual
concession rights until the end of 2014 to develop and operate
outdoor advertising platforms at Sinopec's service stations located
throughout China.
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," "expect," "anticipate," "future," "intend," "plan,"
"believe," "estimate," "confident" and similar statements. Among
other things, the quotations from management in this announcement
contain forward-looking statements. AirMedia may also make written
or oral forward-looking statements in its reports to the U.S.
Securities and Exchange Commission, 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 advertising 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 most
of our revenues from the provision of air travel advertising
services, and any slowdown in the air travel advertising industry
in China may materially and
adversely affect our revenues and results of operations; our
strategy of expanding our advertising network by building new air
travel media platforms and expanding into traditional media in
airports may not succeed, and our failure to do so could materially
reduce the attractiveness of our network and harm our business,
reputation and results of operations; if we do not succeed in our
expansion into gas station and other outdoor media advertising, our
future results of operations and growth prospects may be materially
and adversely affected; if our customers reduce their advertising
spending or are unable to pay us in full, in part or at all for a
period of time due to an economic downturn in China and/or elsewhere or for any other
reason, our revenues and results of operations may be materially
and adversely affected; we face risks related to health epidemics,
which could materially and adversely affect air travel and result
in reduced demand for our advertising services or disrupt our
operations; if we are unable to retain existing concession rights
contracts or obtain new concession rights contracts on commercially
advantageous terms that allow us to operate our advertising
platforms, we may be unable to maintain or expand our network
coverage and our business and prospects may be harmed; a
significant portion of our revenues has been derived from 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; our 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.
Investor Contact:
Raymond Huang
Senior Director of Investor Relations
AirMedia Group Inc.
Tel: +86-10-8460-8678
Email: ir@airmedia.net.cn
SOURCE AirMedia Group Inc.