This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tiger Media Reports Unaudited Financial Results For The First Nine Months Of 2012

Stocks in this article: IDI

Tiger Media, Inc. (“Tiger Media”) (NYSE MKT:IDI) (NYSE MKT:IDI.WS), formerly known as SearchMedia Holdings Limited, one of China's leading nationwide multi-platform media companies, today reported unaudited financial results for the nine months ended September 30, 2012.

Financial Highlights for the Nine Months ended September 30, 2012

  • Revenue decreased 40% year-on-year from $45.5 million to $27.3 million.
  • Operating profit increased from $2.2 million to $7.2 million year-on-year.
  • Net profit increased from $1.1 million to $6.0 million year-on-year mainly attributable to one time gain on disposal of subsidiaries and gain from extinguishment of acquisition consideration.
  • Acquisition consideration payable reduced from $23.2 million at year end 2011 to $5.7 million at September 30, 2012.
  • The Company closed on two private placements pursuant to which the Company sold an aggregate of 7.0 million shares of the Company’s common stock at a price of $1.00 per share.
  • The Company’s Convertible Note Holders converted $3.1 million in convertible notes into common shares at a price of $1.00 per share.
  • After giving effect to the approximately $2.1 million of proceeds received from the warrant price reduction and exchange completed on December 26, 2012, shareholders’ equity would be $5.6 million and cash would increase to $9.4 million.

Unaudited Financial Results for the Nine Months ended September 30, 2012

Revenue decreased 40% to $27.3 million in the first nine months of 2012 from $45.5 million for the same period last year primarily due to the divestiture of Zhejiang Continental, Shenyang Jingli and Qingdao Kaixiang, the streamlining of Ad-Icon Shanghai’s non-profitable elevator business and the termination of our VIE structure.

Gross profit decreased year-on-year from $10.6 million in the same period last year to $3.1 million as a result of a decrease in revenue during the period, divestiture of Shenyang Jingli, Zhejiang Continental, Qingdao Kaixiang, and streamlining of the Ad-Icon Shanghai elevator business while still incurring contracted advertising space lease costs. Gross margin decreased to 11.4% from 23.3% in the same period last year due to higher concession costs, higher network expansion cost, higher percentage of agency business in advertising revenue, and recent subsidiaries separation and elevator business streamlining.

1 of 5

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs