Focus Media: Net Profit USD 37.9 Mn in Q1, Up 85% YoY

Source: Company Disclosure, ChinaScope Financial (Data)

+       Focus Media Holding Limited (NASDAQ: FMCN) released their first-quarter financial results yesterday showing total net revenue of USD 199.6 million in 2012Q1. Net profit was USD 37.9 million, up 85% YoY on 2011Q1.

+       The net revenue from the LCD display, in-store, poster frame and movie theater networks was USD 184.3 million, up 35% on 2011Q1, and higher than the company target of USD 177- 179 million.

Despite net revenue growth of over 35% in 2012 Q1, FMCN’s gross margin dropped 8.9 ppt.

The growth in revenue from poster frame network is the main contributor to overall revenue growth.

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