Acorn International (ATV) Reports Q2 Revenues of $4.6M

Acorn International (NYSE: ATV) reported Q2 Revenue for the quarter came in at $4.6 million.

Financial Results for the Second Quarter of 2017:

• Total net revenues were $4.6 million in the second quarter of 2017, up 20.5% from $3.9 million in the second quarter of 2016.
• Cost of sales in the second quarter of 2017 was $2.0 million, up 20.2% from $1.7 million in the second quarter of 2016.
• Gross profit in the second quarter of 2017 was $2.7 million, up 20.7% from $2.2 million in the second quarter of 2016. Gross margin was 57.3% in the second quarter of 2017, up slightly from 57.2% in the second quarter of 2016.
• Total operating expenses in the second quarter of 2017 were $6.2 million, up 4.8% from operating expenses of $5.9 million in the second quarter of 2016.
• Loss from operations was $3.5 million in the second quarter of 2017, as compared to loss from operations of $3.7 million in the second quarter of 2016.
• Share-based compensation was nil in the second quarter of 2017, as compared to $408,538 in the second quarter of 2016.
• Other expense was $70,000 in the second quarter of 2017, as compared to other income of $12.4 million in the second quarter of 2016, with the latter primarily attributable to gains from sales of Yimeng shares.
• Net loss was $3.4 million in the second quarter of 2017 as compared to net income of $5.7 million in the second quarter of 2016.
• As of June 30, 2017, Acorn's cash and cash equivalents, with restricted cash, totaled $27.9 million, as compared to $25.6 million as of December 31, 2016.

For earnings history and earnings-related data on Acorn International (ATV) click here.

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