SOURCE: China Global Media, Inc.

April 03, 2012 08:17 ET

China Global Media, Inc. Reported a Net Income of $7.8 Million and an Earnings Per Share of $0.20 for Fiscal Year 2011

CHANGSHA, CHINA--(Marketwire - Apr 3, 2012) - On March 30, 2012, China Global Media, Inc. (OTCBB: CGLO) ("Company") filed its Form 10-K annual report for the fiscal year ended December 31, 2011 with SEC. The consolidated audited financial statements contained in the Form 10-K show that the Company has achieved significant growth in 2011 compared to 2010. Here are some highlights:

Our sales for the year ended December 31, 2011 were $35,930,827, which grew by 99% from our sales of $18,052,818 for the year ended December 31, 2010.

Our net income for the year ended December 31, 2011 was $7,843,628, which grew by 66% from our net income of $4,721,436 for the year ended December 31, 2010.

Our comprehensive income, which adds the currency adjustment to net income, was $8,223,375 for the year ended December 31, 2011, which grew by 68% from our comprehensive income of $4,883,377 for the year ended December 31, 2010.

Our Earnings Per Share for the year ended December 31, 2011 was $ 0.20, which grew by 54% from the Earnings Per Share of $ 0.13 for the year ended December 31, 2010.

"We are proud of the growth we have achieved in 2011 and we believe this trend of growth will continue in 2012," commented Mr. Jun Liang, our Chief Financial Officer, "We are making continuing sales and marketing efforts to locate and develop new customers."

A complete Form 10-K Annual Report for the year ended December 31, 2011 can be found on SEC's website: www.sec.gov.

About China Global Media, Inc.
China Global Media, Inc. (OTCBB: CGLO) mainly engages in the business of advertisement and brand name development in China, especially in Hunan Province and other southern Chinese provinces. It carries out business operations through its Hong Kong subsidiary Phoenix International (China) Limited, its Chinese subsidiary Hunan Beiwei International Media Consulting Co., Ltd, and, by contractual arrangement, its three affiliated operating entities including Changsha North Latitude 30 Cultural Communications Co., Ltd., Changsha Beichen Cultural Communications Co., Ltd. and Changsha Zhongte Trade Advertising Co., Ltd. Additional information about China Global Media, Inc. can be found on the web at www.cnbwi.net.

Safe Harbor Statement
Certain of the statements made in this press release constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause China Global Media, Inc.'s actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes," "belief," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our 8-K dated July 22, 2011, and other recent filings. These filings are available at www.sec.gov. The Company does not intend to update any of the forward-looking statements after the date of this release to conform these statements to actual results or to changes in its expectations, except as may be required by law.

Contact Information

  • Investor Relations Contact:
    Jun Liang
    Chief Financial Officer, Chief Strategic Officer
    25-26F Wanxiang Enterprise Building
    No.70 Station North Road
    Changsha, Hunan Province
    China, Postal Code: 410001
    Phone: +86-731-89970899
    Email: Email Contact

    www.cnbwi.net