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AirMedia (AMCN) Boosts Q4 Outlook; Cites Boosted Ad Spend Outside Japan

January 2, 2013 8:05 AM EST Send to a Friend
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AirMedia Group Inc. (Nasdaq: AMCN) announced that it expects its net revenues for the fourth quarter of 2012 to be between US$81.0 million and US$83.0 million, as compared to the previously announced net revenue guidance of US$77.0 million to US$80.0 million. The updated net revenue guidance represents a quarter-over-quarter increase of 13.5% to 16.3% from the previous quarter and a year-over-year decrease of 2.3% to 4.7% from the same period in 2011.

The Street currently sees Q4 revs of $78 million.

"Our diversified customer base enabled us to compensate for the adverse impact from the anti-Japan protests in China and raise our fourth quarter net revenue guidance. In the fourth quarter, we saw more declines in advertising from Japanese brands, especially Japanese automobile manufacturers. However, the increase in advertising spending from other automobile brands and continued growth from other advertising sectors more than offset the loss in Japanese brands. We will continue to further expand and diversify our customer base in 2013," commented Herman Guo, chairman and chief executive officer of AirMedia.

The above forecast reflects AirMedia's current and preliminary view and is therefore subject to change. Please refer to the Safe Harbor Statement below for the factors that could cause actual results to differ materially from those contained in any forward-looking statement.




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