ChinaNet Online Posts Q4 2011 Loss of USD 4 Mln
ChinaNet, 4/16/12
Chinese online and TV advertising firm ChinaNet Online Holdings (Nasdaq: CNET) has announced its financial results for the fourth quarter and full year 2011. Q4 2011 revenue was USD 6.2 mln, a decrease of 40% YoY from USD 10.4 mln in Q4 2010. 2011 net revenue was USD 28.7 mln, a decrease of 31% YoY from USD 41.6 mln in 2010.
Q4 2011 net loss attributable to common shareholders was USD 3.9 mln, as compared to a net income of USD 4.5 mln a year before. 2011 net income attributable to common shareholders was USD 2.6 mln, a decrease of 84% from a net income of 15.8 mln a year before.
For the fourth quarter of 2011, revenue from internet advertising and marketing decreased by 60% YoY to USD 3.5 mln. Sales from brand management and sales channel building services increased from USD 0.4 mln to USD 0.9 mln in the fourth quarter of 2011, representing 14% of total revenues in that period. For the full year 2011, revenue from internet advertising and marketing decreased by 30% YoY to USD 20.0 mln, representing 70% of total sales, while TV advertisement revenues decreased by 48% YoY to USD 6.4 mln, representing 22% of total sales. Beginning in the second quarter of 2011, internet advertising clients reduced their spending on value-added services while maintaining their basic advertising services, which resulted in an approximately 30% decline in average revenue per client.
To view the complete report please see here.
Keywords: 2011 TV advertising Internet profit revenue CNET ChinaNet online advertising fiscal report
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