Chinese digital signage firm Focus Media doing well

Having just released their quarterly results, Chinese digital signage network owner Focus Media is showing extremely strong growth.

Highlights:

-- Net revenues grew 127.9% year-over-year and 52.3% quarter-over-quarter to $14.6 million;

-- Advertising service revenues grew 160.6% year-over-year and 51.8% quarter-over-quarter to $14.3 million on the continued strength in our commercial location network and the commencement of commercial operation of our in-store network;

-- In the second quarter, we sold 3,057 time slots on the commercial location network compared with 1,998 time slots for the first quarter of 2005, an increase of 53.0% quarter-over-quarter. Total capacity, or the total number of available 30-second equivalent time slots, on the commercial location network increased to 6,720 from 6,010 in the first quarter of 2005 due to the full quarterly impact of time slots from regional distributors Focus Media acquired in the first quarter of 2005 and the addition of new regional distributors in the first and second quarter of 2005. Our network utilization rate, or the total 30-second equivalent time slots sold as a percentage of total 30-second equivalent time slots available during the relevant period, for the commercial location network increased to 45.4% in the second quarter versus 33.2% in the first quarter of 2005. Average advertising revenue per 30-second equivalent time slot for the commercial location network in the second quarter was $4,573 versus $4,721 in the first quarter of 2005;

-- Total number of displays in our commercial location network reached 22,931 and total number of displays in our in-store network reached 12,779 as of June 30, 2005;

-- We have rapidly penetrated the retail point-of-purchase advertising market in China and as of June 30, 2005, total installed base of our in-store network reached 1,835 retail stores, including 439 hypermarkets, 674 supermarkets and 722 convenience stores; and

-- Net income for the second quarter grew 119.2% year-over-year and 64.5% quarter-over-quarter to $4.3 million.

Read the rest of the release here.