visionchina media inc-adr (VISN) Key Developments
VisionChina Media Wins Exclusive Concession Contracts
Jun 10 15
VisionChina Media has won exclusive concession contracts to install and operate its on-bus free Wi-Fi network on 5,000 urban buses in Hangzhou city, the provincial capital of Zhejiang province, and 1,614 urban buses and 58 bus rapid transit (BRT) stations in Jinan city, the provincial capital of Shandong province. With these new concession contracts, VisionChina's national network coverage expands to 20 cities and 42,000 buses, up from 18 cities and around 35,000 buses on June 4, 2015.
VisionChina Media Appoints Zhen Xiong as Board Member
Jun 8 15
VisionChina Media has appointed Baidu's vice general manager of mobile application distribution, Zhen Xiong, to its board of directors. Xiong brings more than 10 years of experience in the internet sector.
VisionChina Media Inc. Reports Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2015; Provides Revenue Guidance for the Second Quarter of 2015
Jun 4 15
VisionChina Media Inc. reported unaudited consolidated financial results for the first quarter ended March 31, 2015. For the quarter, the company's total revenues were $15.3 million, representing a decrease of 30.5% from $22.0 million in the first quarter of 2014. The year-over-year decrease of advertising revenue was mainly attributable to the temporary holdback of subway advertising spending by advertisers while the company restructured its subway contracts in Guangzhou city and Beijing city. Operating loss was $7.3 million, compared to $7.1 million in the first quarter of 2014. Net loss attributable to the company's shareholders (GAAP) was $8.5 million compared to $7.5 million in the first quarter of 2014. Basic and diluted net loss per ADS (GAAP) was $1.66 against $0.07 a year ago. Net loss attributable to the company's shareholders excluding share-based compensation expenses was $8.4 million in the compared to $7.2 million in the first quarter of 2014. Net loss before income taxes was $8.654 million against $7.451 million a year ago. Basic and diluted net loss per share was $0.08 against $0.07 a year ago. Net cash used in operating activities was $9.2 million compared to net cash provided by operating activities of $4.6 million in the fourth quarter of 2014. Capital expenditures were $1.3 million.
For the second quarter of 2015, the company expects to generate advertising service revenue in the range of $21.5 million to $22.5 million, representing quarter-over-quarter growth of 29.0% to 32.0%.
VisionChina Media Inc. Presents at Macquarie China Internet, Media and Technology Conference, Jun-22-2015
May 30 15
VisionChina Media Inc. Presents at Macquarie China Internet, Media and Technology Conference, Jun-22-2015 . Venue: Beijing, Shanghai, Beijing Province, China.
VisionChina Media Inc. to Report Q1, 2015 Results on Jun 04, 2015
May 29 15
VisionChina Media Inc. announced that they will report Q1, 2015 results at 8:00 PM, US Eastern Standard Time on Jun 04, 2015