Stanley Wang, VisionChina Media's senior vice president of finance, added, "Although the operating results of second quarter of 2012 are not as strong as we originally anticipated, we remain optimistic about the overall improving picture regarding the second half of 2012. Strong business opportunities during the upcoming London Olympic Games, combined with our continuous cost-reduction efforts and optimization of our media networks, give us confidence in our ability to perform in the second half of 2012."
The Company noted that its guidance is based on its current network that, as of the date of this press release, has already been secured by exclusive agency agreements or joint venture contract, as well as on management's current assessment of the possible outcome of pending litigation with the selling shareholders and former management of Digital Media Group Company Limited. If the number of cities in the Company's network expands or contracts, or if there is any progress in the pending litigation that affects management's assessment of the possible outcome, management's forecast could be affected.
About VisionChina Media Inc.
VisionChina Media Inc. (Nasdaq: VISN) operates an out-of-home advertising network on mass transportation systems, including buses and subways. As of
March 31, 2012, VisionChina Media's advertising network included 135,762 digital television displays on mass transportation systems in 20 of
China's economically prosperous cities, including
Shenzhen, as secured by exclusive agency agreements or joint venture contract. VisionChina Media has the ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports, and other entertainment programming. For more information, please visit
Use of Non-GAAP Financial Measures
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV