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Bona Reports Second Quarter 2013 Financial Results

Stocks in this article: BONA

Cash and Cash Flow

As of June 30, 2013, Bona had cash, cash equivalents and restricted cash totaling US$33.0 million, compared with US$28.0 million as of December 31, 2012. Operating cash flow for the second quarter was a net outflow of approximately US$9.6 million, compared with US$17.0 million for the second quarter of 2012. The change in cash flow from operations was mainly attributable to investment and production expenses associated with films that the Company expects to release in 2013 .

Business Outlook

Based on current market and operating conditions, the Company expects non-GAAP net income for the third quarter of 2013 to be in the range of US$3.0 million to US$3.5 million.

"Looking ahead to the remainder of 2013, we will continue to focus on growing our complementary business segments through the ongoing expansion of our theater network, while we build upon our leading position in China's film distribution market by leveraging our diverse second-half release schedule, which includes several films that we believe have strong box office potential. In addition to our aggressive theater development strategy and compelling second-half release slate, our international expansion initiatives remain on track and are expected to create additional revenue opportunities for the Company. We have built a strong foundation for future growth and remain excited about what the future holds for Bona. We currently anticipate non-GAAP net income of $3.0 million to $3.5 million for the third quarter of 2013," added Mr. Yu.

Second Quarter 2013 Conference Call Details

Bona management will hold the earnings conference call at 8:00 p.m. Eastern Time on Thursday, August 29, 2013 (8:00 a.m. Beijing/Hong Kong Time on Friday, August 30, 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
International: +65-6723-9385
 
The conference ID # is 33469546

A live and archived webcast of the earnings conference call will be available on Bona's Investor Relations website at http://ir.bonafilm.cn/events.cfm .

About Bona Film Group Limited

Bona Film Group Limited (Nasdaq:BONA) is a leading film distributor in China, with an integrated business model encompassing film distribution, film production, film exhibition and talent representation. Bona distributes films to Greater China, Korea, Southeast Asia, the United States and Europe, invests and produces movies in a variety of genres, owns and operates twenty movie theaters and manages a range of talented and popular Chinese artists.

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