ACCESS Newswire
14 Sep 2021, 01:55 GMT+10
Resurgent Direct Market Sales Drove 30% Increase in Publishing Revenue
Proceeds from Capital Raise Slated Primarily for Investment in Original Content
Uplist to NYSE American Completed
NEWARK, NJ and LOS ANGELES, CA / ACCESSWIRE / September 13, 2021 / IDW Media Holdings, Inc. (NYSE America:IDW), an integrated media company, today reported a net loss per share of $0.09 on revenue of $6.8 million for the three months ended July 31, 2021.
Third Quarter Fiscal 2021 (3Q21) Highlights
Comments from Ezra Rosensaft, Chief Executive Officer
'We took important steps to accelerate our growth trajectory, strengthen our balance sheet, and enhance the visibility and liquidity of our stock during and immediately after the third quarter. Most notably, our successful capital raise will enable us to significantly enhance our pipeline of high-quality original content for development across our publishing and entertainment businesses. Our development of the Locke & Key franchise is a protype for how we will leverage the mutual synergies between publishing and entertainment to build fandoms based on original IP.'
'IDW Publishing again operated in the black during the third quarter. The reviving direct market helped boost sales of some of our most popular licensed titles led by Teenage Mutant Ninja Turtles' The Last Ronin #3. In the book market, They Called Us Enemy continued to outperform expectations, while The Locke & Key Keyhouse Compendium was a strong seller for us in both the direct and indirect markets.
'At IDW Entertainment, we welcomed entertainment veteran Paul Davidson to lead the business. Paul is overseeing both development and production, and will drive the company's expansion on television and other entertainment platforms. And speaking of television, we are looking forward to the premiere of Locke & Key's second season on Netflix in October, and season three in 2022.'
Consolidated P&L Highlights
Segment P&L Highlights
(Does not include corporate overhead.)
*CTM's bottom-line results are reported as ‘Loss from discontinued operation, net' in all applicable periods prior to its sale on February 15, 2021.
Financial Take-Aways
(All results are for 3Q21 compared to 3Q20)
Earnings Conference Call
IDW's management will host an earnings conference call beginning at 5:00 PM Eastern time to present results, outlook and strategy followed by Q&A with investors.
To listen to the call and participate in the Q&A, dial 1-844-369-8770 (U.S. - toll free) or 1-862-298-0840 (international - toll) and request the ‘IDW Media call.'
A replay of the conference call can be accessed approximately three hours after the call concludes through September 27, 2021 by dialing 1-877-481-4010 (toll free - U.S.) or 1-919-882-2331 (toll - international) and providing this replay PIN number: 42753. A replay will also be available via streaming audio through the IDW investor relations website.
About IDW
IDW (NYSE American: IDW) is an integrated media company providing compelling stories and characters for global audiences. Our IDW Publishing and IDW Entertainment businesses acquire IP for holistic franchise development across comics and graphic novels, television and other entertainment platforms and leverage established stories from our creative partners.
Investor Contact
IDW Media Investor Relations
[email protected]
IDW MEDIA HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
IDW MEDIA HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
IDW MEDIA HOLDINGS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
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SOURCE: IDW Media Holdings Inc.
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