![]() ![]() However, the situation is dynamic, and the Company is not currently able to predict the full impact of COVID-19 on its results of operations and cash flows. The impacts of COVID-19 have adversely affected our near-term and long-term revenues, earnings, liquidity and cash flows as certain licensees have requested temporary relief or deferred making their scheduled payments. The impact of the COVID-19 pandemic and the pace at which there are new developments has created significant uncertainty in the current economic environment. Adjusted EBITDA from continuing operations for the nine months ended Septemwas $43.7 million, compared to $37.7 million in the prior year period. ![]() ![]() Non-GAAP net loss from continuing operations for the nine months ended Septemwas $(10.0) million, or $(6.08) per diluted share, compared to $(7.7) million, or $(4.74) per diluted share, in the prior year period. Included in the loss from continuing operations for the nine months ended Septemwere non-cash impairment charges of $85.6 million for indefinite-lived intangible assets related to the trademarks for the Jessica Simpson, Gaiam, Joe’s and Ellen Tracy brands reflecting the financial impacts of COVID-19. On a GAAP basis, loss from continuing operations for the nine months ended Septemwas $(83.8) million or $(50.96) per diluted share, compared to $(26.4) million or $(16.36) per diluted share for the nine months ended September 30, 2019. Total revenue from continuing operations for the nine months ended Septemwas $66.8 million, compared to $77.3 million in the prior year period. Year-to-Date 2020 Results from Continuing Operations : Adjusted EBITDA from continuing operations (defined under “Non-GAAP Financial Measures” below) for the third quarter of 2020 was $18.9 million, compared to $13.2 million in the prior year quarter. See Non-GAAP Financial Measure Reconciliation tables below for a reconciliation of GAAP to non-GAAP measures. ![]() Non-GAAP net income from continuing operations for the third quarter 2020 was $2.1 million, or $1.30 per diluted share, compared to a non-GAAP net loss of $(0.9) million, or $(0.53) per diluted share, in the prior year quarter. Included in income from continuing operations for the third quarter 2020 was a $3.7 million gain on the sale of two non-core brands completed in July 2020. On a GAAP basis, income from continuing operations for the third quarter 2020 was $4.5 million or $2.71 per diluted share, compared to loss from continuing operations for the third quarter 2019 of $(18.4) million or $(11.31) per diluted share. Total revenue from continuing operations for the third quarter ended Septemwas $24.0 million, compared to $25.4 million in the prior year quarter. Third Quarter 2020 Results from Continuing Operations: As a result of the Reverse Stock Split, the Company regained compliance with the minimum bid price listing rules of The Nasdaq Stock Market. Prior periods have been reclassified to reflect the change in the Company’s stated capital attributable to common stock which was reduced proportionately to the Reverse Stock Split ratio, and the additional paid-in capital account which was credited with the amount by which common stock was reduced. All share and per share amounts in this press release reflect the Reverse Stock Split. On July 27, 2020, the Company’s previously announced 1 share-for-40 shares (1:40) reverse stock split (the “Reverse Stock Split”) of the Company’s outstanding common stock, par value $0.01 per share became effective. (“Sequential” or the “Company”) (Nasdaq:SQBG) today announced financial results for the third quarter ended September 30, 2020. 16, 2020 (GLOBE NEWSWIRE) - Sequential Brands Group, Inc. ![]()
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