Not Enough Good News At Focus Media (FMCN)
Wall St. expected good things from Chinese company Focus Media (FMCN) First Call had a limited range of projections from only a few analysts, but the recent quarter was expected to show $0.44 EPS on $129.4 million in revenues. Next…
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Wall St. expected good things from Chinese company Focus Media (FMCN) First Call had a limited range of projections from only a few analysts, but the recent quarter was expected to show $0.44 EPS on $129.4 million in revenues. Next quarter is expected to show 0.49 EPS on revenues of $142.6 million.
Total revenues grew 149.6% year-over-year and 33.6% quarter-over-quarter to $151.4 million. Net income for the third quarter was $46.6 million, up 72.6% year-over-year and 23.6% quarter-over-quarter. Fully diluted net income per ADS for the third quarter of 2007 was $0.37.
Focus said that it estimates its total revenues for the forth quarter of 2007 will range from $160 million to $170 million. Fourth quarter 2007 net income excluding share-based compensation expense and intangible assets amortization expense resulting from acquisitions (non-GAAP) is expected to be between $62 million and $64 million or $0.48 to $0.50 per fully diluted ADS
The market seems a little upset about the reported EPS figure. Shares in Focus Media, which where down 3.5% in the regular session traded off another 4% after hours.
So much for dreams of a new 52-week high.
Douglas A. McIntyre
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
