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According to its unaudited financial results for the fourth quarter and full year of 2008, net loss was 11.6 million dollars excluding the one-time items of 263.3 million dollars. The company made a total operating turnover of 186 million dollars during the year, up 38 percent from 134.8 million dollars of 2007. Adjusted EBITDA (non-GAAP), defined as earnings before one-time items, other income, interest income and expense, taxes, depreciation, amortization of intangible assets from acquisitions and share-based compensation expenses, increased four percent from 27.4 million dollars in 2007 to 28.4 million dollars in 2008. Diluted adjusted net earning per ADS dropped to 0.25 dollars, down 42 percent from that in the previous year. The significant loss was mainly attributed to the economic downturn and the company's repositioning to sports and entertainment. The company recorded one-time charges of 245.6 million dollars for the fourth quarter of 2008. At the same time, the company saw a surge in expenses and costs during the year. Selling and marketing expenses reached 22.9 million dollars, up 54 percent from 14.9 million dollars in 2007. General affairs and administrative expenses surged 118 percent from 24.3 million dollars in 2007 to 53 million dollars. For the fourth quarter of 2008, net loss (including one-time items) totaled 251.5 million dollars. Excluding the one-time items of 245.6 million dollars, net loss was 5.9 million dollars (non-GAAP). Adjusted EBITDA (non-GAAP) fell 47 percent year on year to 5.2 million dollars. In the past 52 weeks, Xinhua Finance Media's stock price experienced 0.31 dollars at the lowest and a highest 4.4 dollars. For full details for XFML click here.
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