Beijing-based out-of-home advertising network operator AirMedia Group Inc. (Nasdaq:AMCN) booked a net loss of $1.3 million, compared to net income of $7.3 million in the year-ago period and net income of $8.4 million in the previous quarter, for the first quarter of 2009. Total revenues rose 51.8% year-on-year but fell 19% quarter-on-quarter to $32.8 million. Concession fees grew 302.8% annually and 24.1% quarterly to $19.0 million during the three month period.

Revenues from airport-based digital frames increased 79.7% year-on-year but dropped 30.1% quarter-on-quarter to $12.0 million. Airport-based digital TV screens brought in $12.2 million, up 22.6% year-on-year and 7.4% quarter-on-quarter, while airplane-based digital TV screens contributed $2.8 million, down 27.2% year-on-year and 31.5% quarter-on-quarter. Revenues from traditional media in airports were $4.0 million. AirMedia will record revenue from traditional media in Beijing Capital International Airport and Shenzhen International Airport starting in the second quarter of 2009.

For the second quarter of 2009, the company expects total revenues will be $36-38 million for annual growth of 20.9% to 27.6%. Concession fees for the second and third quarter will be at least $29.6 million and $33.3 million, respectively.