Cash and Cash Flow
As of December 31, 2012, Bona had cash and cash equivalents, term deposits and restricted cash totaling US$28.0 million, compared with US$30.2 million as of December 31, 2011. Operating cash flow for 2012 was a net outflow of approximately US$10.0 million, compared with a net inflow of US$2.2 million for the full year 2011. The change in cash flow was mainly attributable to investment in several films released in 2012 or scheduled for release in 2013.
Based on current market and operating conditions, the Company expects non-GAAP net income for the first quarter of 2013 to be in the range of US$1.2 million to US$1.5 million.Mr. Yu added, "2013 has gotten off to a strong start, led by the first quarter releases of The Grandmasters, surprise hit Bring Happiness Home, as well as Angry Kid and Princess and the Seven Kung Fu Masters. We have a strong film slate for the remainder of the year, with several potential hits including Overheard 3, My Lucky Star and The White Haired Witch, and expect to realize further benefits from our theater expansion. We expect another year of significant growth for China's film industry and believe that these favorable industry dynamics in conjunction with the execution of our growth strategy will lead to a successful year for Bona." Fourth Quarter 2012 Conference Call Details Bona management will hold the earnings conference call at 8:00 p.m. Eastern Time on Monday, April 1, 2013 (8:00 a.m. Beijing/Hong Kong Time on Tuesday, April 2, 2013). Management will discuss results and highlights of the quarter and answer questions from investors. The dial-in numbers for the earnings conference call are as follows:
|U.S. Toll Free: +1-855-500-8701|
|Hong Kong Toll Free: 800-903-737|
|China, Domestic: 400-120-0654|
|The conference ID # is 16496567|