Focus Media (ticker: FMCN) reported Q3 2005 earnings results today that beat consensus EPS estimates (1 analyst) by $0.04. Key stats from the quarter:
(all percentage changes and comparisons are year on year, unless stated otherwise)
- Total revenue rose 146.0% to $19.5 million, and rose 33.5% sequentially. Previous management guidance of $17.0 - $17.5 million.
- Total advertising service revenue rose 170.9% to $19.1 million, and rose 33.4% sequentially.
- Total advertising service revenue - commercial locations - rose 145.2% to $17.3 million.
- Total advertising service revenue - in-store locations - rose from zero to $1.8 million, and rose 435.3% sequentially.
- Total advertising equipment revenue fell 57.5% to $366,403.
- Gross margin was 59.1% vs 70.5%, and vs 60.6% in Q2.
- Total operating expenses rose 147.0% to $5.0 million.
- General and administrative expenses rose 111.5% to $2.3 million.
- Selling and marketing expenses rose 188.9% to $2.7 million.
- Operating income rose 82.9% to $6.5 million.
- Operating margin was 33.2% vs 44.7%.
- Net income rose from a loss of $999,034 to a gain of $7.1 million, and rose 64.0% sequentially. Previous management guidance of $6.3 - $6.5 million.
- Net margin was 36.6% vs 29.8% in Q2.
- Diluted EPS of $0.19 vs a loss of $0.07 and vs consensus estimate of $0.15.
- Cash and bank balances of $84.0 million.
- Investment in available-for-sale securities of $35.0 million.
- Total revenue of $22.0 - $23.0 million.
- Net income of $8.7 - $9.1 million.