China Global Media, Inc. Reported a Net Income of $7.8 Million and an Earnings Per Share of $0.20 for Fiscal Year 2011
April 03, 2012 08:17 ET
China Global Media, Inc. Reported a Net Income of $7.8 Million and an Earnings Per Share of $0.20 for Fiscal Year 2011
CHANGSHA, CHINA--(Marketwire - Apr 3, 2012) - On March 30, 2012, China Global Media, Inc. (
Our sales for the year ended December 31, 2011 were $35,930,827, which grew by 99% from our sales of $18,052,818 for the year ended December 31, 2010.
Our net income for the year ended December 31, 2011 was $7,843,628, which grew by 66% from our net income of $4,721,436 for the year ended December 31, 2010.
Our comprehensive income, which adds the currency adjustment to net income, was $8,223,375 for the year ended December 31, 2011, which grew by 68% from our comprehensive income of $4,883,377 for the year ended December 31, 2010.
Our Earnings Per Share for the year ended December 31, 2011 was $ 0.20, which grew by 54% from the Earnings Per Share of $ 0.13 for the year ended December 31, 2010.
"We are proud of the growth we have achieved in 2011 and we believe this trend of growth will continue in 2012," commented Mr. Jun Liang, our Chief Financial Officer, "We are making continuing sales and marketing efforts to locate and develop new customers."
A complete Form 10-K Annual Report for the year ended December 31, 2011 can be found on SEC's website: [ www.sec.gov ].
About China Global Media, Inc.
China Global Media, Inc. (
Safe Harbor Statement
Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause China Global Media, Inc.'s actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our 8-K dated July 22, 2011, and other recent filings. These filings are available at [ www.sec.gov ]. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.