Wall St. expected good things from Chinese company Focus Media (FMCN) First Call had a limited range of projections from only a few analysts, but the recent quarter was expected to show $0.44 EPS on $129.4 million in revenues. Next quarter is expected to show 0.49 EPS on revenues of $142.6 million.
Total revenues grew 149.6% year-over-year and 33.6% quarter-over-quarter to $151.4 million. Net income for the third quarter was $46.6 million, up 72.6% year-over-year and 23.6% quarter-over-quarter. Fully diluted net income per ADS for the third quarter of 2007 was $0.37.
Focus said that it estimates its total revenues for the forth quarter of 2007 will range from $160 million to $170 million. Fourth quarter 2007 net income excluding share-based compensation expense and intangible assets amortization expense resulting from acquisitions (non-GAAP) is expected to be between $62 million and $64 million or $0.48 to $0.50 per fully diluted ADS
The market seems a little upset about the reported EPS figure. Shares in Focus Media, which where down 3.5% in the regular session traded off another 4% after hours.
So much for dreams of a new 52-week high.
Douglas A. McIntyre
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