ChinaNet Online Q2 Profit Down - Quick Facts

(RTTNews) - ChinaNet Online Holdings Inc. (CNET) reported that its second-quarter net income attributable to common stockholders was $0.4 million and earnings per share was $0.02, compared to $0.9 million and $0.04 per share in the same quarter last year.

Revenues for the quarter were $8.9 million compared to $13.1 million last year, representing a 32% decrease. Low margin TV advertising fell by $3.6 million, accounting for the majority of the year-over-year revenue decline.

For fiscal year 2013, the company expects net income to be in the range of $1.2 million, and revenues of $36 million.