Business
IDW Media Holdings Reports Fourth Quarter and Fiscal Year 2017 Results
IDW Media Holdings Reports Fourth Quarter and Fiscal Year 2017 Results.
About this update from Idw Media Holdings, Inc.
[{"type":"text","content":"\n\n STAMFORD, Conn. and SAN DIEGO, Jan. 29, 2018 (GLOBE NEWSWIRE) -- IDW Media Holdings, Inc. “IDWM” (OTCQX:IDWM) (the “Company”), an integrated media company, announced today its results for the fourth quarter and fiscal year ended October 31, 2017.\n OVERVIEWFY-17 was a transformational year for the Company in executing its strategy of monetizing IDW Publishing’s extensive library of creative content through the production of television programming.  The Company owns or co-owns the rights to over 150 brands and has been investing in IDW Entertainment to produce television programs based primarily on the Company’s proprietary content, as well as third party content.  With the success of the Company’s initial programs, which have received critical and consumer acclaim, and the media industry recognition of the broad audience and attractive target demographics of the Company’s proprietary library, the momentum for IDW Entertainment has increased significantly. The Company expects to produce multiple additional programs to significantly accelerate the growth of IDW Entertainment in FY-18 and beyond.  At the same time, the Company has invested in strengthening its IDW Publishing division, including transitioning its distribution to a new partnership with Random House.  While this transition, coupled with industry dynamics, led to a decline in IDW Publishing revenue in FY-17, the IDW Publishing division is well-positioned to return to growth in FY-18, while  continuing to feed more proprietary content to fuel the accelerating growth of IDW Entertainment. Fiscal Fourth Quarter and Fiscal Year End 2017 Financial Highlights: Revenue of $20.0 million for Q4-17 compared to $23.6 million for the year ago period (-15.4%) and $16.7 million in Q3-17 (+19.6%). Revenue of $60.4 million for FY-17 compared to $65.3 million for the previous year. The year over year decline in revenue and the sequential quarterly increase in revenue are discussed below for each segment of the Company.Gross profit margin for the Company of 40.8% for  Q4-17 compared to 42.1% for Q4-16 and 46.2% for Q3-17.  Gross profit margin for the Company of 44.9% for FY-17 compared to 47.2% for the previous year. The year over year decline was principally due to increasing printing costs at IDW P...