Important news for this Co. came out after the close today

["Ted Marion" <nnoinnyhojhl at e-post dot lt>]

Revenues and Net Income Increase 59% and 38% Respectively

SYMBOL: CDGT
Current Price: $2.27
2-5 Day Trading: $5-7 
 
Press Release Source: China Digital Media Corporation 
 
China Digital Media Corporation Reports Strong Financial Results: Second Quarter of 2005 Revenues and Net Income Increase 59% and 38% Respectively
Monday August , 8:00 am ET 
 
HONG KONG, Aug.  /Xinhua-PRNewswire-FirstCall/ -- China Digital Media Corporation ("Digimedia") (OTC Bulletin Board: CDGT - News) announced today its financial results for the Second Quarter ended June 30, 2005. 
Financial Highlights for the Three Months Ended June 30, 2005 Compared to the Three Months Ended June 30, 2004: 
 
-- Revenues increased 59% to $1,310,811 from $822,210
-- EBITDA improved 80% to $996,975 from $554,723
-- Net Income increased 38% to $705,651 from $511,411
 
Financial Highlights for the Six Months Ended June 30, 2005 Compared to the Six Months Ended June 30, 2004: 

-- Revenues increased 56% to $2,304283 from $1,481,519
-- EBITDA improved 78% to $1,697,766 from $951,343
-- Net Income increased 29% to $1,143,504 from $883,255
 
The strong performance in the second quarter of 2005 compared to the same period in 2004 was primarily due to the increase in number of TV subscribers, sales of Pay-TV and revenues from commercial accounts of digitalization of television signals. Furthermore, the company experienced significant growth in the second quarter of 2005 as compared to the first quarter of 2005. 
 
"We are very delighted with our strong performance in the second quarter of 2005. These results confirm our efforts in migration of the television broadcasting system and the operations of Pay-TV services in Nanhai, China. In addition, the per-subscriber revenue has increased significantly," said Mr. Daniel Ng, Chairman and CEO of China Digital Media Corporation. "We anticipate continued strong results from our core business. Our recent investments and upcoming acquisitions could further contribute considerably in our growth during the second half of 2005," Mr. Ng added.

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