AirMedia (AMCN) Boosts Q4 Outlook; Cites Boosted Ad Spend Outside Japan
Tweet Send to a FriendGet Alerts AMCN Hot Sheet
Trade AMCN Now!
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Abercrombie & Fitch Co. (ANF) Misses Q1 EPS by 4c; Guides FY Below Views
- Gap, Inc. (GPS) Tops Q1 EPS by 2c; Reaffirms Outlook
- Sempra Energy (SRE) Trims FY13 EPS Outlook; Guides FY14 Below Views
Create E-mail Alert Related Categories
Guidance, Hot Guidance
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
