VisionChina Media's Q1 net profit up 23.7%
| VisionChina Media Inc, one of China's largest out-of-home digital TV advertising networks, on Wednesday said its first-quarter net profit jumped 23.7% year on year to US$6.7 million from US$5.4 million a year earlier.
In the quarter ended Mar. 31, 2009, total revenues surged 100% year on year to US$27.3 million. Operating profit was US$6.1 million, up 35.2% year on year from US$4.5 million.
The company said it has expanded the number of cities in its network to 18 by adding Hangzhou and Tianjin during the first quarter of 2009. Its network capacity, which is measured in total broadcasting hours, reached 32,737 hours in the first quarter of 2009, compared to 25,980 hours in the corresponding period a year earlier.
VisionChina Media predicted that its second-quarter total income would be between US$29.2 million and US$32.2 and that net profit would be US$6.5 million.
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