SHANGHAI, July 23, 2014 /PRNewswire/ -- Acorn
International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), a media
and branding company in China
engaged in developing, promoting and selling products through
extensive direct and distribution networks, announced today that
the New York Stock Exchange has notified the Company about unusual
trading activity in its American depositary shares on July 22, 2014. It is the Company's policy to not
comment on unusual trading activity.
About Acorn International, Inc.
Acorn is a media and branding company in China, operating TV direct sales businesses
other direct sales platforms and a nationwide distribution network.
Acorn's TV direct sales platform consists of airtime purchased from
both national and local channels. Acorn's other direct sales
platforms include outbound telemarketing centers, e-commerce
websites, and catalogs. Acorn has built a proven track record of
developing, promoting and selling proprietary-branded products, as
well as products from established third parties. For more
information, please visit http://ir.chinadrtv.com.
Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
This press release contains "forward-looking statements,"
including, among other things, Acorn's unaudited operating results
for 2014; Acorn's ability to realize its planned new product
testing, launches and upgrades; Acorn's expectation regarding
growth in customer acceptance and sales of its kitchen and
household products and the new electronic learning products with
mobile interactive internet features; Acorn's ability to form and
implement business strategies and initiatives in response to the
recent SAPPRFT Circular imposing restrictions on TV infomercials
including its new product placement marketing strategy; the
Company's ability to improve its e-commerce and catalog sales and
expand its nationwide distribution network while controlling
relevant operating costs; and the Company's ability to enhance its
media efficiency. These forward-looking statements are not
historical facts but instead represent only the Company's belief
regarding future events, many of which, by their nature, are
inherently uncertain and outside of the Company's control. The
Company's actual results and financial condition and other
circumstances may differ, possibly materially, from the anticipated
results and financial condition indicated in these forward-looking
statements. Acorn may fail to meet the operating results
expectations. In particular, the operating results of the Company
for any period are impacted significantly by the mix of products
and services sold by the Company in the period and the platforms
through which they are sold, causing the operating result to
fluctuate and making them difficult to predict. The Company may not
be able to maintain the sales and margin of such products at
current level in the event that there is a change in the customers'
preference, which may result in a material adverse impact on the
Company's results of operations and financial condition.
Other factors that could cause forward-looking statements to
differ materially from actual future events or results include
risks and uncertainties related to: the Company's ability to
successfully improve or introduce new products and services,
including to offset declines in sales of existing products and
services; the Company's ability to stay abreast of consumer market
trends and maintain the Company's reputation and consumer
confidence; the Company's ability to execute and maintain a
successful market strategy, continued access to and effective usage
of TV advertising time and pricing related risks; relevant
government policies and regulations relating to TV media time and
TV direct sales programs, including SAPPRFT regulations and actions
that may make TV media time unavailable to the Company or require
the Company to suspend or terminate a particular TV direct sales
program; potential unauthorized use of the Company's intellectual
property; potential disruption of the Company's manufacturing
processes; increasing competition in China's consumer market; the Company's U.S.
tax status as a passive foreign investment company; and general
economic and business conditions in China. The financial information contained in
this release should be read in conjunction with the consolidated
financial statements and notes thereto included in the Company's
2013 annual report on Form 20-F filed with Securities and Exchange
Commission on April 17, 2014. For a
discussion of other important factors that could adversely affect
the Company's business, financial condition, results of operations
and prospects, see "Risk Factors" beginning on page 6 of the
Company's Form 20-F for the fiscal year ended December 31, 2013. The Company's actual results
of operations for the first quarter of 2014 are not necessarily
indicative of its operating results for any future periods. Any
projections in this release are based on limited information
currently available to the Company, which is subject to change.
Although such projections and the factors influencing them will
likely change, the Company will not necessarily update the
information. Such information speaks only as of the date of this
release.
Contact:
Acorn International,
Inc.
|
Compass Investor
Relations
|
Ms. Xiaojing
Li
|
Ms. Elaine Ketchmere,
CFA
|
Phone:
+86-21-51518888 Ext. 2496
|
Phone:
+1-310-528-3031
|
Email:
lixj@chinadrtv.com
|
Email:
Eketchmere@compass-ir.com
|
www.chinadrtv.com
|
www.compass-ir.com
|
SOURCE Acorn International, Inc.