VisionChina Media (VISN) Continues Rally After Reported Substantial Financial Improvements
VisionChina Media (Nasdaq: VISN)
Shares of VISN continued increasing activity on tuesday's trading session.
Yesterday, VISN reported substantial financial improvements in the second quarter of 2013, posting total revenues of $26.7 million, a 56.3% increase from $17.1 million in the first quarter of 2013, in line with VISN‘s revenue guidance, and gross profit of $4.5 million compared to gross loss of $5.1 million in the first quarter of 2013.
VISN last trade on tuesday was at $6.18, up $1.64 or 36.12%, with volume of 3,705,610 shares
VISN operates an out-of-home advertising network on mass transportation systems, including buses and subways. As of June 30, 2013, VISN‘s advertising network included 111,063 digital television displays on mass transportation systems in 19 of China's economically prosperous cities, including Beijing, Guangzhou and Shenzhen, as secured by exclusive agency agreements or joint venture contract.
VISN has the ability to deliver real-time, location-specific broadcasting, including news, stock quotes, weather and traffic reports, and other entertainment programming.
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