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Focus Media's profit for Q1 soars 85%

May. 30, 2012 (China Knowledge) - Focus Media Holding Ltd<FMCN>, a leading Chinese digital media group, has posted US$37.9 million-net profit attributable to shareholders for the first quarter of this year, reflecting a YoY increase of 85% from US$20.5 million.

On a non-GAAP basis, the U.S.-listed firm's net profit attributable to shareholders for the reporting period reached US$61.6 million, up 45% YoY from US$42.4 million.

In the three months ended Mar. 31, 2012, the company's diluted earnings per American Depositary Share were US$0.28, 87% more than US$0.15 for the first quarter of last year.

Total revenues for the first quarter of 2012 amounted to US$199.6 million.

Focus Media had US$816.8 million in cash and short-term investments as of Mar. 31, 2012, whereas it had US$756.6 million at the end of last year, representing an increase of 8%.

For the second quarter of this year, Focus Media's non-GAAP net profit is expected to be in the range of US$78 million to US$80 million, and its operating revenue for core business would reach between US$211 million and US$213 million in the same period.

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