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