VisionChina Media Falls, FalconStor Software Jumps After Earnings
VisionChina Media reports Fall in Net Loss
VisionChina Media Inc (ADR) (NASDAQ: VISN) Shares are falling in the pre-market session on Wednesday despite the company reported lower than estimated fourth quarter loss.
The company reported net income of $1.7 million or $0.02 per share, as compared to a net loss of $44.7 million or $0.53 per share in the same quarter previous year. Total revenues increased 18.9%to $53.38 million, as compared to $44.91 million last year. Analysts on an average were expecting the company to report a loss of $0.04 per share on revenue of $52.69 million in the quarter.
Shares of VISN are trading lower by 7.70% to $1.56. The stock has already fallen over 57% over the past one year with 52-week range of $1.08-$4.69.
FalconStor Software’s Q4 loss Rises
On the other hand, FalconStor Software, Inc. (NASDAQ: FALC), provider of disk-based data protection solutions, Shares are soaring as the company reported its fourth quarter results.
The company’s fourth quarter net loss was $6.1 million or $0.13 per share, as compared to a loss of $53,229 or breakeven per share last year. Total revenues for the quarter fell 4% to $25.4 million from $26.5 million last year. On the adjusted basis, the company earned $1.2 million or $0.03 a share, from $4.0 million or $0.08 a share a year ago.
The Company had $37.8 million in cash, cash equivalents, and marketable securities, up $0.4 million from December 2010. Cash flow from operations for the fourth quarter of 2011 was $1.5 million and for the full year 2011 cash flow from operations was $3.1 million.
FalconStor shares are up 9.50% at $3.40 in the pre-market session.
