AirMedia Group Inc. has announced its unaudited financial results for fiscal year ended December 31, 2009.

Total revenues for the fiscal year 2009 were US$152.5 million, representing a year-over-year increase of 21.5% from US$125.5 million in fiscal year 2008. The year-over-year increase was primarily due to the increases of revenues from digital frames and traditional media in airports.

Net loss attributable to AirMedia’s shareholders was US$30.2 million, compared to net income attributable to AirMedia’s shareholders of US$30.2 million in fiscal year 2008.

Loss is mainly due to:

- the progression of concession fees, which accounted for US$110.1 million, representing a year-over-year increase of 141.0% from US$45.7 million in fiscal year 2008,

- certain one-time penalties imposed on the company for terminating the operation of “some unprofitable media in several airports, including some of the traditional media in Beijing Capital International Airport”. The dropping of these media is expected to reduce AirMedia’s concession fees by approximately US$11.3 million in 2010.

Concession fees as a percentage of net revenues in fiscal year 2009 increased to 73.7% from 38.2% in 2008.

AirMedia operates digital TV screens in 40 Chinese major airports and  digital frames in 32 major airports. In addition, AirMedia sells advertisements on the routes operated by eight airlines, including the three largest airlines in China. In selected major airports, AirMedia also operates traditional media platforms, such as billboards, light boxes and other digital media, such as mega LED screens.