Business
Network Media Group Announces Results for the Quarter Ended May 31, 2018
Network Media Group Announces Results for the Quarter Ended May 31, 2018 Canada Ne...
About this update from Network Media Group Inc.
[{"type":"text","content":"\n\n\n\nNetwork Media Group Announces Results for the Quarter Ended May 31, 2018\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, July 26, 2018\n\n\n\nVANCOUVER, July 26, 2018 /CNW/ - Network Media Group Inc. (TSX: NTE.V) (OTCMKTS: NMGGF) and Network Entertainment Inc. (\"Network\" or \"the Company\") announced today its results for the three and six months ended May 31, 2018.\n\nFor the quarter ended May 31, 2018, the Company reported a net income of $205,000 ($0.00 per share) for the three month period compared with a net income of $387,276 ($0.01 per share) in 2017. In addition, the Company reported a net loss of $118,488 for the six month period ended May 31, 2018, compared to a net income of $469,071.\n\nAdditional highlights of the quarter are:\n\n\nRevenues of:\n\n$776,619 (2017 - $2.2M) for the three months ended, and;\n$935,523 (2017 - $4.2M) for the six months ended.\nNet income/(loss) of:\n\n$205,000 (2017 – $387,276) for the three months ended, and;\n$(118,488) (2017 - $469,071) for the six months ended.\nEBITDA of:\n\n$486,716 (2017 - $490,917) for the three months ended, and;\n$429,603 (2017 - $674,311) for the six months ended.\nIncome/(loss) per share of:\n\n$0.00 (2017 - $0.01) for the three months ended, and;\n$(0.00) (2017 - $0.01) for the six months ended.\nEBITDA per share of:\n\n$0.01 (2017 - $0.01) for the three months ended, and;\n$0.01 (2017 - $0.01) for the six months ended.\n\n\nDelivered I Am MLK Jr. to critical acclaim\nContinued production on four additional I Am projects\nCommenced production on an eight episode documentary series\nReceived eight Leo Award nominations\n\nThe Company's unaudited condensed interim consolidated financial statements for May 31, 2018 and 2017, are available on www.sedar.com under the Company's profile.\n\nCEO Derik Murray quotes, \"Being in production on a record number of projects is starting to show results and is positioning us for a record setting fiscal 2018. I am very happy with how the team has performed thus far and excited about the direc...