Charm Communications Posts Q3 Loss

(RTTNews) - Charm Communications Inc. (CHRM) reported a net loss for the third quarter of $0.6 million, compared to net income of $0.1 million for the year-ago quarter.

Net loss attributable to Charm Communications shareholders per ADS for the third quarter was $0.03 per share, compared to a net loss attributable to Charm Communications shareholders per ADS of $0.01 in the prior year quarter.

Revenues for the third quarter declined 16.7% year over year to $40.7 million in the third quarter of 2013.

Excluding items, adjusted net income was $0.5 million in the third quarter of 2013, compared to $0.8 million in the prior year quarter. Looking forward, the company forecast fourth quarter adjusted net income of $2.75 million to $3.25 million.