Spackman Equities Group Reports Third Quarter 2013 Results
Company records record revenue and net income for the three and nine month periods ended September 30, 2013
(firmenpresse) - TORONTO, ONTARIO and HONG KONG, HONG KONG -- (Marketwired) -- 11/28/13 -- Spackman Equities Group Inc. ("SEGI" or the "Company") (TSX VENTURE: SQG) today announced its financial results for the third quarter and the nine months ended September 30, 2013.
For the third quarter ended September 30, 2013 revenue was $6.1 million and the net income was $2.6 million or $0.017 per share. For the nine months ended September 30, 2013 revenue was $8.6 million and the net income was $1.2 million or $0.008 per share. Both the revenue and net income for the three and nine month periods ended September 30, 2013 are records for the Company.
At September 30, 2013 SEGI had $5.9 million, or $0.04 per share in cash or cash equivalents and marketable securities.
Commenting on the third quarter results, Charles Spackman, the Chairman and Chief Executive Officer of SEGI said, "Due to the excellent box office performance of Zip Cinema's COLD EYES, the production fee income received to date from the film has provided record revenues and net income for the Company. Opus Pictures' SNOWPIERCER was one of the highest grossing movies in Korean history, but we do not expect to receive production fee income, if any, from SNOWPIERCER until late next year after it has played worldwide." He also added, "The planned listing of our subsidiary Spackman Entertainment Group Limited in the first half of 2014, if successful, will provide additional capital for our Korea movie businesses and enable Zip Cinema and Opus Pictures to increase their collective slate of films for next year to at least 3 releases."
The complete financial statements for the three and nine months ended September 30, 2013, including Management's Discussion and Analysis of the results, are posted on SEGI's website, and are also available on SEDAR at .
About Spackman Equities Group Inc.
Spackman Equities Group Inc. ("SEGI") is an investment holding company that invests into and develops small/medium-sized growth companies that possess industry-specific know-how or proprietary technologies, primarily in Asia. SEGI also makes investments in selected publicly-traded companies that SEGI believes are attractive investment propositions. The objectives of SEGI are to (i) invest into or acquire businesses with compelling growth potential at attractive valuations, (ii) build a diversified and balanced portfolio of investments, and (iii) deliver the collective value derived from the performance of its portfolio of investments to the shareholders of SEGI. Currently, SEGI's holdings include:
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Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Included in this news release are matters that constitute "forward-looking" information within the meaning of Canadian securities law. Such forward-looking statements may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" or words of a similar nature. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include among others, regulatory risks, risk inherent in foreign operations, commodity prices and competition. Most of these factors are outside the control of the Company. All subsequent forward-looking statements attributable to the Company or its agents are expressly qualified in their entirety by these cautionary comments. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.
Contacts:
Spackman Equities Group Inc.
Floria Lin
Investor Relations
+852 3902 3287
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Datum: 28.11.2013 - 15:01 Uhr
Sprache: Deutsch
News-ID 1287803
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