China MediaExpress Holdings, Inc. Announces Third Quarter Financial Results.

Business Wire › November 08, 2010

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China MediaExpress Holdings, Inc. Announces Third Quarter Financial Results.

Third Quarter Revenue and Net Income Increased by 118% and 167%, Respectively

Increases 2010 Net Income Guidance to Between $100 Million and $104 Million

FUJIAN, China -- China MediaExpress Holdings, Inc. (NASDAQ GS: CCME) ("CME" or "Company"), China's largest television advertising operator on inter-city and airport express buses, today announces financial results for the three and nine months ended September 30, 2010.

Third Quarter 2010 vs. Third Quarter 2009

* Revenue increased by 118% to $57.0 million as compared to $26.1 million;

* Gross margin was 76.8% as compared to 67.0%;

* Income from operations increased by 166% to $41.2 million as compared to $15.5 million; and,

* Net income increased by 167% to $31.1 million or $0.81 per diluted share as compared to $11.7 million or $0.56 per diluted share.

Nine Mont...

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