AirMedia Group (AMCN) Tops Q2 EPS by 1c, Guides Above for FY Revenues

August 11, 2008 5:01 PM EDT

AirMedia Group Inc. (Nasdaq: AMCN) reports Q2 adjusted EPS of $0.12, 1 cent better than estimates. Total revenues increased 251.6% year-over-year and 37.9% sequentially to US$29.8 million vs. $27.71 million consensus.

AirMedia currently expects that its total revenues for the third quarter of 2008 will be in an amount ranging from US$31.0 million to US$33.0 million, representing a year-over-year increase of 191.8% to 210.6% from the same period of 2007. (Q3 revenue consensus is $31.86 million)

As a result of current business visibility, AirMedia currently expects that its total revenues for 2008 will be in an amount ranging from US$122.4 million to US$126.4 million, representing a year-over-year increase of 180.6% to 189.8% from fiscal year 2007. (Consensus is $119.38 million)

AirMedia Group Inc. (AirMedia) operates a digital media network in China dedicated to air travel advertising. The Company operates over 2,041 digital television screens in airports and places its programs on over 17000 digital television screens on airplanes.[SM]

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