Feb. 28, 2007 (China Knowledge) – Shanghai-based Focus Media Holding Ltd. <FMCN> said its fourth quarter profit more than tripled and issued an optimistic outlook for 2007.

In the three months through December, net income for the Mainland's biggest overseas-listed advertising outfit jumped 219% from a year earlier to US$30.1 million, or 55 U.S. cents per diluted share, from US$9.4 million, based on U.S. Generally Accepted Accounting Principles (GAAP).

Fourth quarter revenue for the Nasdaq-listed company rose 177% to US$68.3 million. The figure met company estimates of between US$67 million and US$69 million.

Focus Media, which runs flat-screen TVs displaying ads in stores, offices and apartment buildings, has been expanding through acquisitions to run ads in elevators and cinemas and on outdoor electronic billboards and cell phones.

Looking ahead, Focus Media expects for the first quarter of 2007 revenue of US$54 million to US$56 million, and first-quarter profit, excluding stock option expenses, of 36 U.S. cents to 38 U.S. cents per share, or slightly below the consensus forecast of 38 U.S. cents a share.

The company expects total 2007 revenue of US$350 million to US$360 million and profit, excluding stock compensation costs, in a range from US$2.83 to US$2.90 per American depositary share.