AirMedia Q2 2015 revenues off 33%

AirMedia Group Inc. (NASDAQ: AMCN) said its second quarter 2015 revenues decreased by 32.8 percent year-over-year and 31.3 percent quarter-over-quarter to USD11.9 million.

Net revenues decreased by 33.7 percent year-over-year and 32.5 percent quarter-over-quarter to USD11.6 million.

Net loss attributable to AirMedia´s shareholders was USD19.4 million. Basic and diluted net loss attributable to AirMedia´s shareholders per American Depositary Share (“ADS”) were both USD0.32.

Adjusted EBITDA from continuing operations attributable to AirMedia´s shareholders (non-GAAP), which is EBITDA from continuing operations attributable to AirMedia´s shareholders excluding share-based compensation expenses, was a loss of USD15.8 million, compared to a loss of USD11.7 million in the same period one year ago.

Revenues from continuing operations for the second quarter of 2015 decreased by 32.8 percent year-over-year and by 31.3 percent quarter-over-quarter to USD11.9 million. The year-over-year and quarter-over-quarter decreases were primarily due to a soft advertising market and the divestiture of TV-attached digital frames and digital TV screens in airports in February 2015, as previously discussed in our first quarter 2015 financial results.

Net revenues for the second quarter of 2015 reached USD11.6 million, representing a year-over-year decrease of 33.7 percent from USD17.5 million in the same period one year ago and a quarter-over-quarter decrease of 32.5 percent from USD17.2 million in the previous quarter.

AirMedia Group is a leading operator of out-of-home advertising platforms in China targeting mid-to-high-end consumers, as well as a first-mover in the in-flight and on-train Wi-Fi market.