Business
IDW Media Holdings Reports Fiscal Third Quarter 2017 Results
IDW Media Holdings Reports Fiscal Third Quarter 2017 Results.
About this update from Idw Media Holdings, Inc.
[{"type":"text","content":"\n \n \n IDW Media Holdings Reports Fiscal Third Quarter 2017 Results\n \n \nIDW Media Holdings Reports Fiscal Third Quarter 2017 Results\n\nIDW Entertainment Expands Line-Up of TV Programs, Poised for Significant Growth\n\n \n STAMFORD, CT and SAN DIEGO, CA--(Marketwired - Sep 14, 2017) - IDW Media Holdings, Inc. (OTCQX: IDWM) (the \"Company\"), an integrated media company announced today its results for the third quarter ended July 31, 2017.\n Major Highlights and Milestones:\n \n \n Wynonna Earp Television series renewed for Season 3 with Syfy Channel in the U.S. and Space Channel in Canada. The series continues to receive critical acclaim and awards from fans and press. With Netflix, Viacom and others, Wynonna Earp is available around the world.\n \nDirk Gently TV series completed production of Season 2, with premiere scheduled for October 17 on BBC America, and in December on Netflix outside the U.S.\n \nLocke & Key is slated to be IDW Entertainment's third television property, and the Company believes it has breakout potential. We are currently producing a one-hour television pilot for Hulu. Carlton Cuse, as showrunner, is creating a world class production with an all-star cast, and Director Andy Muschietti is coming off a tremendous premiere of his theatrical release of Stephen King's IT.\n \nIDW Entertainment is developing several other major media programs based on IDW Publishing's portfolio of books and comics, as well as third party content.\n \nIDW Publishing's transition to Random House for distribution is leading to expansion of our sales channels which is expected to support growth for books in 2018 and beyond. \n \nThe Company launched IDW Digital Studio which will focus on content development production, distribution and engagement, concentrating on building successful consumer franchises.\n \nThe Company closed a $10.5 million private placement of stock strengthening its balance sheet to support growth initiatives. \n \n \n Fiscal Third Quarter 2017 Financial Highlights:\n \n \n Revenue for the Company of $16.7 million for Q3-17 compared to $17.6 million for the year ago period (-5.1%) and $8.9 million in Q2-17 (+87.6%). The year over year decline in revenue and the sequential increase in revenue are discussed below for each segment of the Company.\n \nGross profit margin for the Company...