Bona – BONA – Another quarter of double-digit year-over-year growth

Nasdaq:BONA), a leading film distributor and vertically integrated film company in China, announced its unaudited financial results for the second quarter ended June 30, 2012.

• Quarterly Net Revenue of US$20.7 Million, Up 23.9% Year-Over-Year
• Quarterly Net Income of US$0.5 Million, Compared With a Loss in the Comparable 2011 Period
• Non-GAAP Net Income of US$1.8 Million, Up 12.7% Year-Over-Year, Exceeding Guidance

BONA – Second Quarter 2012 Financial Highlights

• Second quarter 2012 net revenues were US$20.7 million, an increase of 23.9% year-over-year from US$16.7 million in the second quarter of 2011.
• Second quarter 2012 gross profit was US$11.7 million, an increase of 48.7% year-over-year from US$7.9 million in the second quarter of 2011.
• Second quarter 2012 gross margin was 56.3%, compared to 46.9% in the second quarter of 2011.
• Second quarter 2012 net income attributable to Bona Film Group Limited was US$0.5 million, or US$0.01 per diluted ADS¹, compared with a net loss attributable to Bona Film Group Limited of US$(0.9) million, or US$(0.02) per diluted ADS, in the second quarter of 2011.
• Second quarter 2012 non-GAAP net income² was US$1.8 million, or US$0.03 per diluted ADS, an increase of 12.7% year-over-year, compared to non-GAAP net income of US$1.6 million, or US$0.03 per diluted ADS in the second quarter of 2011.
• Cash and cash equivalents, term deposits and restricted cash totaling US$29.1 million as of June 30, 2012.
• Cash outflow from operations totaled US$17.0 million, compared with US$6.4 million in the second quarter of 2011.

BONA – Business Updates and Recent Highlights

• Secured strategic investment from News Corporation following global media conglomerate’s purchase of 19.9% equity stake from founder, Chairman and CEO, Mr. Yu Dong.
• Signed agreement with IMAX to bring first IMAX® theater to Tianjin.
• Distributed three films in the second quarter, including one imported film.
• Opened 14^th movie theater in Dongguan, Guangdong Province, on June 20, 2012, increasing the Company’s total number of screens to over 113 across the Company’s 14 theaters.
• Won a record 10 awards at the 31^st Hong Kong Film Awards, including Bona’s third consecutive Best Picture award for critically acclaimed drama A Simple Life.

About Bona Film Group Limited – BONA

Bona Film Group Limited (BONA) is a leading film distributor in China, with an integrated business model encompassing film distribution, film production, film exhibition and talent representation.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.