Editorial Summary

Shanghai-based TV direct sales company Acorn International (NYSE: ATV) reported first quarter results before market open on Wednesday. The company saw net revenue of $66.1 million, down 2.8 percent year-on-year, and net income of $2.4 million (with an investment gain of $0.8 million), compared to $7.3 million in the year-ago period. Total revenue from Acorn's branded CPS stock tracking software was up 100 percent year-on-year to $4.6 million.

Acorn International maintains its full year guidance of revenue between $280 million and $320 million with net income excluding share-based compensation expenses and investment income between $16 million and $18 million.