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VisionChina reports profit of USD7.1 mln in Q2

BEIJING, Aug 12, 2009 (Xinhua via COMTEX) --

Company: VisionChina Media Inc (VISN)

VisionChina Media Inc. (VISN.NASDAQ), an out-of-home digital TV and advertising network operator in China, has reported a net income of 7.1 million US dollars, down 16.7 percent year on year.

In the quarter ended June 30, VisionChina's revenues soared 51.8 percent year on year to 30.8 million dollars.

Its advertising network covered 18 cities with 82,349 digital displays on buses, subway trains and platforms by the end of June.

Li Limin, chairman and CEO of the company, said that the company's "strong results" contributed to the company's determination to "penetrate new key clients, particularly large multinational brands". In addition, the company has evaluated its advertising network sharpened its management.

The company is also seeking potential investment opportunities, said Li.

Market hearsay suggested that VisionChina planned to acquire its competitor Towona, but Towona later denied the rumour.

Copyright (C) 2009 Xinhua Economic News. All rights reserved

News Provided by COMTEX

Company: VisionChina Media Inc (VISN)


Related terms: acquisition, advertising, ceo, china, investment, market, profit

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