Eros Int'l (EROS) Posts Q2 EPS of 12c/ADS; Sees Being FCF Positive by End of FY16

(Updated - November 17, 2015 8:19 AM EST)

Eros Int'l (NYSE: EROS) reported Q2 EPS of $0.123, $0.27 worse than the analyst estimate of $0.39. Revenue for the quarter came in at $98.8 million versus the consensus estimate of $90.71 million.

Adjusted EBITDA increased by 159.5% to $36 million, compared to $13.9 million in the prior year period.

Prem Parameswaran, Group Chief Financial Officer and President of North America also commented:

"While the Audit Committee review is ongoing, our results for the second quarter ended September 30, 2015 clearly show the strong growth in our revenues and profitability. We remain well-funded with just $14.6 million negative free cash flow at the end of September 30, 2015 and we believe that we are on target to become free cash flow positive by the end of this fiscal year, as we have previously projected. Our goal is to increase working capital efficiencies by collecting overdue receivables with a receivables target of $150-$160 million by the end of fiscal 2016 while also not exceeding our target spend of $225 million on content. Our EBITDA margins have increased from 27.8% in the three months ended September 30, 2014 to 36.5% in the three months ended September 30, 2015 and we believe will maintain our growth momentum into the 2017 fiscal year."

For earnings history and earnings-related data on Eros Int'l (EROS) click here.

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