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HONG KONG, Aug. 15 -- China
Digital Media Corporation ("Digimedia") (OTC Bulletin
Board: CDGT – News ) announced today its financial results for the
Second Quarter ended June 30, 2005.
Financial Highlights for the Three Months Ended
June 30, 2005 Compared to the Three Months Ended June 30, 2004:
-- Revenues increased 59% to $1,310,811 from
$822,210
-- EBITDA improved 80% to $996,975 from $554,723
-- Net Income increased 38% to $705,651 from $511,411
Financial Highlights for the Six Months Ended June
30, 2005 Compared to the Six Months Ended June 30, 2004:
-- Revenues increased 56% to $2,304283 from $1,481,519
-- EBITDA improved 78% to $1,697,766 from $951,343
-- Net Income increased 29% to $1,143,504 from $883,255
The strong performance in the second quarter of
2005 compared to the same period in 2004 was primarily due to the
increase in number of TV subscribers, sales of Pay-TV and revenues
from commercial accounts of digitalization of television signals.
Furthermore, the company experienced significant growth in the second
quarter of 2005 as compared to the first quarter of 2005.
"We are very delighted with our strong performance
in the second quarter of 2005. These results confirm our efforts
in migration of the television broadcasting system and the operations
of Pay-TV services in Nanhai, China. In addition, the per-subscriber
revenue has increased significantly," said Mr. Daniel Ng, Chairman
and CEO of China Digital Media Corporation. "We anticipate
continued strong results from our core business. Our recent investments
and upcoming acquisitions could further contribute considerably
in our growth during the second half of 2005," Mr. Ng added.
For more information on us, please go to our website
at http://www.chinadigimedia.com.
To be added to China Digital Media's investor
e-mail list, please send e-mail to our Investors Relations at ir@chinadigimedia.com.
About China Digital Media Corporation
China Digital Media Corporation (OTC Bulletin
Board: CDGT - News) focuses its business in three main areas: Cable
TV Operations, Programs Production and Advertising Sales. Arcotect
Technology (GZ) Limited, a wholly owned subsidiary of CDGT in China,
is the sole contractor and operator of digital television services
in Nanhai, a city with 400,000 cable TV subscribers. The service
could offer more than 800 digital channels of pay TV programs and
value added multimedia services. The Group is seeking to establish
similar model elsewhere in China.
Certain information contained in these materials
is "forward-looking" information, such as projections,
estimates, pro formas, or statements of intentions, expectations
or plans. All forward-looking information is subject to known and
unknown risks and uncertainties, many of which are outside of the
control of the company. Consequently, actual results may, and probably
will, differ materially from the results contemplated in such forward-looking
information.
For more information, please contact:
Y. K. Ma of China Digital Media Corporation
Tel: +852-2390-8686
Email: ir@chinadigimedia.com
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