This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Sequential Brands Group Announces Second Quarter 2014 Results

  • Q2 Revenue of $7.0 million vs. $4.3 million in the prior year quarter
  • Q2 Adjusted EBITDA of $3.7 million vs. $2.5 million in the prior year quarter
  • Year-to-date revenue of $13.3 million vs. $6.0 million in the prior year period
  • Year-to-date Adjusted EBITDA of $6.8 million vs. $1.3 million in the prior year period
  • Trailing 12-month revenue of $29.9 million and Adjusted EBITDA of $17.8 million
  • Forward looking twelve month revenue run rate expected to increase from range of $28 - $30 million to approximately $56 - $60 million after Galaxy acquisition closes

NEW YORK, Aug. 7, 2014 (GLOBE NEWSWIRE) -- Sequential Brands Group, Inc. (Nasdaq:SQBG) ("Sequential" or the "Company") today announced financial results for the second quarter ended June 30, 2014.

Second Quarter 2014 Results:

Total revenue for the second quarter ended June 30, 2014 increased to approximately $7.0 million, compared to approximately $4.3 million in the prior year quarter. Adjusted EBITDA for the second quarter was approximately $3.7 million, compared to approximately $2.5 million in the prior year quarter. On a non-GAAP basis, net income for the quarter was approximately $1.1 million, or $0.04 per share, compared to approximately $0.8 million, or $0.05 per share, in the prior year quarter. On a GAAP basis, net loss for the quarter was approximately ($0.6) million, or ($0.02) per share, compared to net income of approximately $0.7 million, or $0.04 per share, in the prior year quarter.

Yehuda Shmidman, Sequential's Chief Executive Officer, commented, "We are pleased with our strong second quarter results that were driven by substantial increases in both revenue and Adjusted EBITDA versus last year. Our performance over the first half of the year demonstrates the power of our business model and our ability to continue growing both organically and through acquisitions. We believe we are still in the very beginning stages of our evolution and are very excited about our position going forward. The pending acquisition of Galaxy Brands is expected to nearly double the scale of our brand portfolio and further diversifies our license and distribution platform. All told, we are well positioned to continue executing against our growth targets and achieving our three-year goal of $100 million in annual revenue and $70 million in annual adjusted EBITDA."

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,928.20 -142.20 -0.79%
S&P 500 2,089.46 -25.03 -1.18%
NASDAQ 4,939.3270 -77.6020 -1.55%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs