This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

AirMedia Group Shares Fall On Slower 3Q Growth

PHILADELPHIA (AP) ¿ Shares of AirMedia Group Inc., which runs digital ads at airports and on airplanes, fell Tuesday after saying that its third-quarter revenue growth will slow down.

The Beijing-based company is forecasting revenue of $37 million to $40 million for the quarter, below Wall Street analysts' average estimate of $44.1 million in sales, as compiled by Thomson Reuters. The outlook was part of its second-quarter earnings report late Monday.

AirMedia lost $7 million, or 11 cents per share, compared with a year-ago profit of $7.3 million, or 11 cents per share. The company said higher costs to place more traditional ads like billboards led to the loss, and such expenses are not expected to ease this year.

Sales rose 24 percent to $36.8 million from $29.8 million in the year-ago period. Both earnings and sales exceeded analysts' expectations.

On Tuesday, Sterne Agee analyst James Lee cut his revenue forecasts and widened his loss estimates for the company. He noted that AirMedia expected a 5 percent sequential revenue growth in the third quarter, but Wall Street was forecasting 22 percent.

Lee reduced his 2009 sales outlook to $148.1 million from $155.7 million and his loss per share estimate widened to 34 cents from 25 cents. For 2010, the sales forecast fell to $206.3 million from $216.4 million and the loss widened to 18 cents per share from a penny per share.

Shares of AirMedia fell by 50 cents, or 7.1 percent, to $6.50 in midday trading.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AMCN $5.20 -1.14%
AAPL $93.24 -0.41%
FB $117.81 -0.21%
GOOG $701.43 0.82%
TSLA $211.53 -4.96%


Chart of I:DJI
DOW 17,660.71 +9.45 0.05%
S&P 500 2,050.63 -0.49 -0.02%
NASDAQ 4,717.0940 -8.5450 -0.18%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs