Business
DHX Media reports 1st quarter results and declares dividend
REVENUES DOUBLED, ADJUSTED EBITDA INCREASED 322% www.dhxmedia.com TSX: DHX H...
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[{"type":"text","content":"\n\n\nREVENUES DOUBLED, ADJUSTED EBITDA INCREASED 322% \n\n\nwww.dhxmedia.com\nTSX: DHX\n\n\nHALIFAX, Nov. 14, 2013 /CNW/ - DHX Media Ltd. (\"DHX Media\" or the\n \"Company\") (TSX: DHX), a leading independent producer, distributor and\n licensor of children's entertainment content, is pleased to announce\n its financial results for the quarter ended September 30, 2013.\n\n\nHighlights of Q1 2014 Results:\n(All amounts in Canadian dollars)\n\n\n\nRevenues doubled to $27.00 million from $13.51 million for Q1 2013;\n\n\n\n\nGross margin increased to $15.26 million (57% of revenues), up 182% from\n $5.42 million for Q1 2013 (40% of revenues);\n\n\n\n\nAdjusted EBITDA1 of $7.80 million, an increase of 322% from $1.85 million in Adjusted\n EBITDA for Q1 2013;\n\n\n\n\nOne-time charges of $1.23 million ($0.86 million after-tax) for\n acquisition-related costs associated with the Ragdoll transaction;  and\n\n\n\n\nNormalized net income of $3.39 million (up 304% over Q1 2013-$0.84\n million), or $0.03 per share, after adding back Ragdoll\n acquisition-related costs. Q1 2013 reported net income was $2.16\n million, or $0.02 per share, up from a net loss of $0.07 million, an\n increase of $2.23 million in absolute dollars\n\n\n\n1 EBITDA represents income of the Company before amortization, finance\n income (expense), taxes, share of loss of associates, development\n expenses and any impairments, share-based compensation expense, and\n Adjusted EBITDA includes adjustments for other non-recurring charges.\n (See Q1 2014 MD&A definition of EBITDA and Adjusted EBITDA for full\n details).\n\n\nMichael Donovan, CEO, DHX Media commented, \"We are pleased to announce\n record first quarter financial results, with triple-digit growth in\n Revenue, Adjusted EBITDA, and Normalized Net Income. The increase in\n Gross Margin to 57% of Revenue was driven largely by distribution\n revenue from licenses to digital content distributors. With a library\n of 9,500 half-hours of children's entertainment content, we are well\n positioned to benefit from the proliferation of new digital buyers.\"\n\n\nDividend Declaration\n\n\nOn November 14, 2013 the Board of Directors approved a dividend for the\n quarter of $0.011 on each common share outstanding to the shareholders\n of record at the close of business December 6, 2013 to be paid December\n 27, 20...