NEW YORK, July 16, 2015 /PRNewswire/ --
ACI Association today initiated research coverage on VisionChina Media Inc. (NASDAQ: VISN). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.
Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/?c=VISN.
Highlights from our VISN Report include:
- Earnings Round Up -- On June 4, 2015, VisionChina Media Inc. announced results for the first quarter ended March 31, 2015 (Q1 2015). The Company reported a 30.5% YoY decline in total revenues to $15.3 million in Q1 2015, compared to $22.0 million in Q1 2014. Sequentially, the revenues declined 29.2% from $21.6 million in Q4 2014.
- How the Segments Performed -- During the quarter, VisionChina Media saw a decline in total broadcasting hours which came in at 31,635 hours as against 37,620 hours in Q1 2014. A total of 193,380 advertising minutes in the network were sold by VisionChina Media in Q1 2015, compared to 264,476 advertising minutes in Q1 2014. Further, the Company sold an average of 6.11 advertising minutes per broadcasting hour in Q1 2015 compared to 7.03 advertising minutes per broadcasting hour in Q1 2014.
- Costs and Expenses Explained -- Driven by VisionChina Media's efforts to restructure its subway concession contracts in Guangzhou and Beijing, Media cost, one of the major components of advertising service cost, declined 20.5% YoY to $14.7 million in Q1 2015 from $18.5 million in Q1 2014. Further, selling & marketing expenses and general & administrative expenses declined by 30.7% YoY and 25.8% YoY to $3.9 million and $1.7 million, respectively. Operating loss for the quarter stood at $7.3 million in Q1 2015 compared to an operating loss of $7.1 million in Q1 2014. The Company said that the net loss attributable to VisionChina Media shareholders (GAAP) was $8.5 million in Q1 2015, compared to net loss of $7.5 million in Q1 2014. Basic and diluted net loss per ADS (GAAP) was $1.66 in Q1 2015.
- Outlook and Business Updates -- While reporting a not-so good performance for the quarter, VisionChina Media expects a strong rebound in the second quarter. For the second quarter of 2015, the Company expects the advertising service revenue to be in the range of $21.5 million to $22.5 million, representing a sequential growth of 29.0% to 32.0%. The Company further announced the appointment of Mr. Zhen Xiong to VisionChina Media's board of directors.
To find out how this influences our rating on VisionChina Media Inc., read the full report in its entirety here: http://www.aciassociation.com/?c=VISN
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