Focus Media Holding Limited Earnings Cheat Sheet: Beats Estimates

Focus Media Holding Limited (NASDAQ:FMCN) reported net income above Wall Street’s expectations for the second quarter. Focus Media Holding, Ltd. is engaged in selling out-of home television advertising time slots on its network of flat-panel television advertising displays located in high traffic areas such as commercial locations and in-store network.

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Focus Media Earnings Cheat Sheet for the Second Quarter

Results: Net income for Focus Media Holding Limited rose to $42.8 million (30 cents per share) vs. $25.3 million (17 cents per share) in the same quarter a year earlier. This marks a rise of 68.9% from the year earlier quarter.

Revenue: Rose 48% to $166.1 million from the year earlier quarter.

Actual vs. Wall St. Expectations: FMCN reported adjusted net income of 44 cents per share. By that measure, the company beat the mean estimate of 27 cents per share.

Quoting Management: Jason Jiang, Chairman and Chief Executive Officer of Focus Media said, “We are on schedule to complete installation of Focus Media’s interactive screens in seven cities by October. We believe installation of these interactive screens is a vital revolutionary step that will transform our relationships with Chinese consumers by forming an intimate and interactive tie between the Focus media platform and Chinese consumers, providing advertisers with an interactive and measurable advertising media platform that can make a direct sales impact. We believe our offering of an interactive and measurable media platform will not only meaningfully expand our media resources, but it will also greatly enhance our value proposition and pricing power to advertisers

Key Stats:

Revenue has now gone up for three straight quarters. In the first quarter, revenue rose 17.4% to $146.6 million while the figure rose more than fourfold in the fourth quarter of the last fiscal year from the year earlier.

The company beat estimates last quarter after being in line with expectations in the first quarter with net income of 19 cents per share.

Competitors to Watch: VisionChina Media Inc (NASDAQ:VISN), AirMedia Group Inc. (NASDAQ:AMCN), Lamar Advertising Company (NASDAQ:LAMR), China Mass Media Intl Adv Corp. (NYSE:CMM), Interpublic Group of Companies, Inc. (NYSE:IPG), Omnicom Group Inc. (NYSE:OMC), Charm Communications Inc (NASDAQ:CHRM), National CineMedia, Inc. (NASDAQ:NCMI).

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(Source: Xignite Financials)