3/17/2010-Shares of Focus Media Holding (NASDAQ:FMCN) are trading 2.5% higher to $17.19 Wednesday and earlier leapt to $18.72, the highest intraday price since November 2008, after the Chinese outdoor-advertising company reported fourth-quarter revenues of $144.3 million, topping consensus estimates of $131.5 million.
Kit Low, CFO, remarked, "Our fourth quarter 2009 results demonstrate the robust execution capability of the Focus Media team as well as the significant positive operating leverage of the Focus Media business model. In the fourth quarter 2009 the Company generated a free cash flow of $43.0 million on $34.7 million of non-GAAP net income with operating cashflow of $72.3 million, versus an investing cashflow of $29.3 million. We expect this trend of positive cashflow generation to continue as the Company leverages the 2010 uptrend of the Chinese advertising market."
Keywords: focus media sales revenues estimates price
Ticker(s): FMCN
