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Focus Media Q3 profit climbs 9.6% YOY

Focus Media Information Technology Co. Ltd. said its normalized net income for the third quarter amounted to 9 fen per share, a gain of 5.5% from 8 fen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 1.08 billion yuan, a gain of 9.6% from 983.3 million yuan in the year-earlier period.

The normalized profit margin declined to 34.9% from 37.6% in the year-earlier period.

Total revenue rose 18.1% on an annual basis to 3.09 billion yuan from 2.62 billion yuan, and total operating expenses declined 5.2% on an annual basis to 1.41 billion yuan from 1.49 billion yuan.

Reported net income increased 14.3% year over year to 1.38 billion yuan, or 11 fen per share, from 1.21 billion yuan, or 10 fen per share.

As of Oct. 27, US$1 was equivalent to 6.65 yuan.