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VisionChina Media's loss expands to US$21.1 mln in Q1

May. 9, 2012 (China Knowledge) - VisionChina Media Inc<VISN>, one of China's largest out-of-home digital TV advertising networks, has posted US$21.1 million-net loss attributable to shareholders for the first quarter of this year, compared with US$13 million of loss it suffered in the same period of last year.

During the period from January to March 2012, the U.S.-listed firm's non-GAAP net loss attributable to shareholders reached US$18 million.

Basic loss per American Depositary Share was US$0.21. Each ADS represents one common share. Gross loss for the first quarter totaled US$4 million.

Total revenues for the first quarter of 2012 reached US$28.3 million, down 47% year on year from US$53.4 million.

The company had US$75.9 million in cash as of Mar. 31, 2012.

For the second quarter of this year, VisionChina Media expects its advertising service revenue to be in the range of US$40 million to US$43 million, and its non-GAAP net loss attributable to shareholders is expected to reach between US$5 million and US$8 million in the period.

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