The Definitive Story of What Happened On SFX Entertainment's Conference Call

NEW YORK (TheStreet) -- SFX Entertainment (SFXE) saw its shares tumble 20% at one point Thursday during a profanity-laced conference call in which an analyst questioned the CEO's sanity.

When the theatrics subsided, however, investors decided things might not be so bad for the company, which claims to provide "the ultimate end-to-end experience to the largest connected electronic dance music community."

There was actually a fair bit of drama before the call. Earlier in the week, pictures surfaced on Instagram and Twitter of Chairman and CEO Robert Sillerman giving photographers the finger as he exited a private jet in Miami.

Alluding to the photos, one analyst conceded Sillerman was known as a non-traditional CEO but said, "we just want to make sure you are still sane."

Adding gasoline to the fire, perhaps intentionally, was an analyst who identified himself as Ben Green of BD Capital.

Green accused SFX of trying to brush over its "s__ty deals" by way of accounting adjustments to derive its non-GAAP earnings.

"It looks like you guys take out some of the legacy losses of the platform company. What is that? Is that some of the s__ty deals?" Green asked.

But Sillerman did not take the bait.

"I am not sure that we have done any s__y deals," he said in response to Green's inquiry. "This is a pretty modest adjustment based on non-recurring transfers and investments in upgrades. Nothing more, no less."

SFX's CFO Richard Rosenstein, who'd been introduced by Sillerman at the start of the call as "Shecky Green" an old Las Vegas comic, said that the businesses Green inquired about had been folded into SFX's growing entertainment platform for their technology. Past losses, Rosenstein said, were largely irrelevant to the company's ongoing business.

Shame on Them!

If you liked this article you might like

Music Festival Producer SFX Could Face Free-Fall Bankruptcy

Why SFX Entertainment (SFXE) Stock Is Up Today

5 CEOs Like Jack Dorsey: How'd They Do Running Two Companies?

4 Stocks Under $10 Making Big Moves

SFX Entertainment (SFXE) Stock Falls on Deal Termination, Analyst Downgrade