Charm Communications 3Q loss more than doubles

Chinese advertising company Charm Communications says 3rd-quarter loss more than doubles

Associated Press

NEWS: Charm Communications Inc., the Chinese advertising company, said Friday that its third-quarter loss doubled from a year ago as revenue from its media investment management business and advertising agency fell.

DETAILS: The company, based in Beijing, said that its media investment management business was hurt by falling television ratings. Revenue from that business fell 19 percent from a year ago to $27.7 million. Revenue at its advertising agency business fell 17 percent from a year ago to $11.3 million.

NUMBERS: Loss of $1.2 million, or 3 cents per American depositary share, in quarter ended Sept. 30. That compares with a loss of $510,000, or 1 cent per ADS, in the same quarter a year ago. Revenue fell 17 percent to $40.7 million from $48.8 million.

FUTURE: For the fourth quarter, the company expects adjusted earnings between $2.75 and $3.25 per ADS.

STOCK: Down 6 cents to close at $4.39 Friday.

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