Business
Network Entertainment Announces 2018 Year-End Results
Network Entertainment Announces 2018 Year-End Results Canada NewsWire VANCOUVER,...
About this update from Network Media Group Inc.
[{"type":"text","content":"\n\n\n\nNetwork Entertainment Announces 2018 Year-End Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 29, 2019\n\n\n\nVANCOUVER, March 29, 2019 /CNW/ - Network Media Group Inc. (TSX: NTE.V) (OTCMKTS: NMGGF). (\"Network\" or \"the Company\") today reported its financial results for the fiscal year ended November 30, 2018 (\"Fiscal 2018\") which include revenues of $2.7 million and Adjusted EBITDA of $613,891. \nCFO, Darren Battersby stated, \"2018 was a transformative year for the Company. The final accounting shows a net loss, but as a Company, Network made amazing strides forward. Posting a strong Adjusted EBITDA and record production levels has made the year a success in my view. We head into fiscal 2019 with a full slate of productions, exceptional momentum and an optimistic outlook for the future of Network.\"\nThe financial results for Network's Fiscal 2018 include the following highlights: \nRevenues of $2.7 million Net loss of $525,319 ($0.01 per share) Adjusted EBITDA of $613,891 ($0.01 per share) Release of three I Am projects and the commencement of production on two series Made a $9.0 million investment into new projects in production and developmentThe Company's audited consolidated financial statements for November 30, 2018 and 2017 are available on www.sedar.com under the Company's profile. \nCEO, Derik Murray stated, \"We delivered three documentaries and started production on three more documentaries as well as two series including an eight-part series for YouTube Premium and a four-part series for EPIX, setting the stage for a strong fiscal 2019 and beyond.\" \nA more detailed analysis of the other components of the Company's performance can be found in its Management Discussion and Analysis as filed on www.sedar.com.\nAbout NetworkNetwork Media Group is the parent company of Network Entertainment Inc. Network Entertainment, founded and headquartered in Vancouver, British Columbia, Canada, produces premium content for global audiences. Network's documentaries and docu-series showcase th...