Acorn International (ATV) Reports Q3 Revenue of $7.54M, Approves $2M Buyback

Acorn International (NYSE: ATV) reported Q3 loss from operations of $0.8 million in the third quarter of 2017, as compared to loss from operations of $1.5 million in the third quarter of 2016. Revenue for the quarter came in at $7.54 million, versus $6.07 million reported last year.

Share Buyback Plan

On December 8, 2017, Acorn's board of directors approved a new share buyback plan of the Company's ADSs for a period of one year, replacing the terms of the plan approved in February 2017. Under the new buyback plan, Acorn is authorized to repurchase up to $2.0 million of its ADSs within a one-year period from December 7, 2017 to December 7, 2018. The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The timing and extent of any purchases will depend upon market conditions, the trading price of its ADSs and other factors, and are subject to the restrictions relating to volume, price and timing under applicable law. The Company's Board of Directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company plans to fund any repurchases from its existing cash balance.

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

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c
• Boost Run, Inc. (BRUN) Reports Q2 Revenue of $31.1M