RLJ Entertainment (RLJE) Reports Q1 Loss of $0.46 on Revenues of $18.6M

RLJ Entertainment (NASDAQ: RLJE) reported Q1 EPS of ($0.46). Revenue for the quarter came in at $18.6 million.

First Quarter 2018 Highlights

• Digital Channels paying subscribers increased 44.2% from the first quarter of 2017 to over 750,000. Digital Channels segment revenues increased 45.4% to $8.7 million from $6.0 million in first quarter 2017.
• Total net revenue increased 33.8% year-over-year to $18.6 million, primarily driven by the increase in Digital Channels revenue. Wholesale Distribution segment revenue also increased 24.9% year-over-year.
• Gross profit increased 84.6% year-over-year to $8.8 million and gross margin of 47.4% expanded 13 percentage points from 34.3% last year. These profit improvements were driven by growth in Digital Channels revenue as well as revenue growth and gross margin expansion in Wholesale Distribution.
• Equity earnings from Agatha Christie Limited (ACL) increased 42.3% year-over-year to $0.8 million driven by ACL\'s film and publishing business segments.
• Net loss was $6.5 million compared to $6.1 million in first quarter 2017, of which $3.0 million and $2.9 million, respectively, was attributable to non-cash warrant expense driven by the appreciation of the RLJE stock price.
• Adjusted EBITDA increased substantially to $1.5 million from $0.1 million in the first quarter of 2017 primarily due to growth of (i) higher-margin Digital Channels revenue and (ii) Wholesale Distribution segment revenue and gross margin.

For earnings history and earnings-related data on RLJ Entertainment (RLJE) click here.

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