IDW Media Holdings, Inc. Reports Record Third Quarter 2016 Results
Record Third Quarter Gross Revenue of $17.6mm Resulting in an Increase of 31% and Record Nine Month Gross Revenue of $41.6mm Resulting in an Increase of 17% Led by the Success of IDW Entertainment
(firmenpresse) - STAMFORD, CT and SAN DIEGO, CA -- (Marketwired) -- 09/15/16 -- . (OTC PINK: IDWM), a fully integrated media company announced today its results for the third quarter ended July 31, 2016.
Gross Revenue of $17.6 million for the three months ended July 31, 2016 compared to $13.4 million for the three months ended July 31, 2015, and $41.6 million for the nine months ended July 31, 2016 compared to $35.5 million for the nine months ended July 31, 2015 is primarily due to IDW Entertainment which increased by $4 million and $7.5 million for those periods. The increase resulted from the release of IDW Entertainment television episodes.
IDW Entertainment 3rd Quarter Revenue of $4 million or 23% of Total Revenues compared to $58k or 0.4% last year.
On June 21, 2016, IDWM acquired the remaining 17% non-controlling interest of IDW Inc. resulting in 100% ownership and no minority interest.
Income from operations increased by $691,000 or 36% for the three months ended July 31, 2016 compared to the three months ended July 31, 2015, primarily due to IDW Entertainment.
The increase resulted from gross profit from the release of IDW Entertainment television episodes.
Commenting on the results, Ted Adams, CEO stated, "Our third quarter performance reflects record growth from the IDW Entertainment Division".
Mr. Adams added, "In the fourth quarter of 2016, we expect continued revenue growth, led by the success of our graphic novels and additional IDW Entertainment revenue from the premier of ."
All statements above that are not purely about historical facts, including, but not limited to, those in which we use the words "believe," "anticipate," "expect," "plan," "intend," "estimate," "target" and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors. Our filings with the SEC provide detailed information on such statements and risks, and should be consulted along with this release. To the extent permitted under applicable law, we assume no obligation to update any forward-looking statements.
IDW Media Holdings (OTC PINK: IDWM) is a fully integrated media company, which includes the award-winning IDW Publishing, IDW Games, IDW Entertainment, Top Shelf Productions, the San Diego Comic Art Gallery, and CTM Media Group Inc. a subsidiary of IDW Media Holdings (OTC: IDWM) (OTCBB: IDWM) (OTC PINK: IDWM). CTM Media Group Inc. is one of North America''s largest distributors of tourism information. Distributing over 100 million brochures last year, CTM''s comprehensive visitor out of home marketing network includes over 14,000 brochure information displays and 400 award-winning touch screen kiosks.
:
Les Rozner
(203) 716-8376
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Datum: 15.09.2016 - 07:00 Uhr
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