Xinhua Finance Media Updates its Guidance for Quarter Ended September 30, 2007
November 05 2007 - 5:00PM
PR Newswire (US)
BEIJING, Nov. 5 /Xinhua-PRNewswire-FirstCall/ -- Xinhua Finance
Media Limited ("XFMedia", or "the Company"; Nasdaq: XFML), China's
leading diversified financial and entertainment media company,
today updates its guidance for the third quarter ended September
30, 2007. The Company will release financial results for the
quarter ended September 30, 2007 on Tuesday, November 13, 2007,
after the US markets close. Due to stronger than expected growth in
its business as well as contribution from acquisitions, the Company
now raises its projected net revenues for third quarter 2007 to be
in the range of US$38 million to US$40 million, compared to the
previous guidance of US$35 million to US$37 million. The Company
expects net income to be in the range of US$8.0 million to US$9.0
million and adjusted net income (a non-GAAP financial measure),
which the Company defines as net income before amortization of
intangible assets, imputed interest, and share-based compensation
expenses, is expected to be in the range of US$13.8 million to
US$14.8 million. To assist investors in understanding adjusted net
income, the following is a table reconciling net income to adjusted
net income: (US$ million) Range Net income 8.0 - 9.0 Amortization
of intangible assets 4.2 Imputed interest 1.1 Share-based
compensation expenses 0.5 Adjusted net income 13.8 - 14.8 To
further assist investors in understanding the computation of net
income and adjusted net income per ADS, the following is a table
showing the details: Earnings per ADS (US$) Range Net income per
ADS - basic * 0.13 - 0.14 Net income per ADS - diluted * 0.11 -
0.13 Adjusted net income per ADS - basic * 0.22 - 0.23 Adjusted net
income per ADS - diluted * 0.20 - 0.21 * Weighted average number of
ADS - basic: 63.5 million; weighted average number of ADS -
diluted: 70.1 million. One ADS represents two shares. This guidance
reflects the Company's preliminary view based on current plans,
estimates, and projections. A number of important factors could
cause the actual results to differ materially from those contained
in such guidance. Non-GAAP Financial Measure To supplement
XFMedia's consolidated financial results presented in accordance
with U.S. GAAP, XFMedia uses the following non-GAAP financial
measure: adjusted net income, which is defined as net income before
amortization of intangible assets, imputed interest, and
share-based compensation expenses. The presentation of this
non-GAAP financial measure is not intended to be considered in
isolation or as a substitute for the financial information prepared
and presented in accordance with U.S. GAAP. Conference Call
Information Date: November 13, 2007 (New York) / November 14, 2007
(Beijing) Time: 5:00 PM (New York) / 6:00 AM (Beijing) Duration: 1
Hour Interested parties may dial into the conference call at: (US)
+1-480-293-1744 (UK) +44-20-7190-1232 (Asia Pacific) +852-3009-5027
A telephone replay will be available shortly after the call for one
week at: (US) +1 303 590 3030 (Passcode: 3800017#) (UK) +44 207 154
2833 (Passcode: 3800017#) (Asia Pacific) +852 2287 4304 (Passcode:
124110#) About Xinhua Finance Media Limited Xinhua Finance Media
("XFMedia"; Nasdaq: XFML) is China's leading diversified financial
and entertainment media company targeting high net worth
individuals nationwide. The Company reaches its target audience via
TV, radio, newspapers, magazines and other distribution channels.
Through its five synergistic business groups, Advertising,
Broadcast, Print, Production and Research, XFMedia offers a total
solution empowering clients at every stage of the media process and
keeping people connected and entertained. Headquartered in Beijing,
the Company has offices and affiliates in major cities of China
including Beijing, Shanghai, Guangzhou, Shenzhen and Hong Kong. For
more information, please visit http://www.xinhuafinancemedia.com/.
Safe Harbor Statement This announcement contains forward-looking
statements. These statements are made under the "safe harbor"
provisions of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements can be identified by
terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements.
Among other things, the outlook for third quarter 2007 contains
forward-looking statements. XFMedia may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission in its annual report to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Statements that are not historical facts, including
statements about XFMedia's beliefs and expectations, are
forward-looking statements. Forward- looking statements involve
inherent risks and uncertainties. A number of factors could cause
actual results to differ materially from those contained in any
forward-looking statement, including but not limited to the
following: our growth strategies; our future business development,
results of operations and financial condition; our ability to
attract and retain customers; competition in the Chinese
advertising market; changes in our revenues and certain cost or
expense items as a percentage of our revenues; the outcome of
ongoing, or any future, litigation or arbitration, including those
relating to copyright and other intellectual property rights; the
expected growth of the Chinese advertising and media market; and
Chinese governmental policies relating to advertising and media.
Further information regarding these and other risks is included in
our registration statement on Form F-1, as amended, filed with the
Securities and Exchange Commission. XFMedia does not undertake any
obligation to update any forward-looking statement, except as
required under applicable law. For more information, please
contact: IR Contact China Xinhua Finance Media Ms. Jennifer Chan
Lyman Phone: +86-21-6113-5960 Email: DATASOURCE: Xinhua Finance
Media Limited CONTACT: IR, Ms Jennifer Chan Lyman,
+86-21-6113-5960, or of XF Media Web Site:
http://www.xinhuafinancemedia.com/
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