This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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

VisionChina Media Revises 2012 Second Quarter Guidance

BEIJING, July 5, 2012 /PRNewswire-Asia/ -- VisionChina Media Inc. ("VisionChina Media" or the "Company") (Nasdaq: VISN) today announced that its results for the second quarter of 2012 are estimated to be lower than the previous guidance provided in its May 8, 2012 first quarter earnings release.

For the second quarter of 2012, the Company estimates its advertising service revenue to be between $28.0 million and $29.0 million, compared to the previous guidance of $40.0 million to $43.0 million. The Company's non-GAAP financial measurement, net loss attributable to VisionChina Media shareholders excluding share-based compensation expenses, amortization of intangible assets, contingent loss in connection with litigation, and/or impairment loss and income tax credit in connection with the impairment loss for the second quarter of 2012, is estimated to be between $20.0 million and $22.0 million, compared to the previous guidance of $5.0 million to $8.0 million. The Company will also carry out an assessment to determine if there is any potential impairment loss against its goodwill and intangible assets.

Mr. Limin Li, VisionChina Media's chairman and chief executive officer, commented, "We are committed to providing as much transparency around our results as possible, and in as timely a manner as we can. Several factors led to this revised guidance, including further declining contribution from the internet-based businesses sector, a slower-than-expected recovery in advertising spending by small- and medium-sized clients in reaction to rate-card increases across our network in the fourth quarter of 2011, and the cautious sentiment of the current advertising market. While it is disappointing to issue lower guidance, we are striving to improve our sales execution by enhancing team organization, optimizing our incentive scheme, as well as recruiting experienced salespeople from the traditional TV sector to expand our customer verticals. Our underlying business development pipeline remains strong and we remain a leading outdoor media choice for advertisers. As our company gains additional attention and support from the central government, our proven media cost-control strategy will help us capitalize on opportunities for our company's long-term growth."

1 of 3

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
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs