Valuevision Media, Inc. (VVTV) Reports In-Line Q1 EPS

Valuevision Media, Inc. (NASDAQ: VVTV) reported Q1 EPS of $0.03, in-line with the analyst estimate of $0.03. Revenue for the quarter came in at $160 million versus the consensus estimate of $161.38 million.

ValueVision CEO Keith Stewart, said, "We are pleased with our Q1 results, which marked the 8th consecutive quarter of sales growth and positive adjusted EBITDA. We continue to make progress in growing revenue and gross profit while repositioning our product assortment. Our success in achieving increased customer growth and a lower average price point at strong margins accelerated throughout Q1 and should provide us with positive momentum for the second quarter."

ValueVision EVP & CFO William McGrath, stated, "Our balance sheet condition remains strong. We ended the first quarter with $27 million in cash and restricted cash compared to $31 million at the beginning of the year. Net use of cash includes $5 million in working capital and $3 million in capital expenditures partially offset by the Company's positive adjusted EBITDA results in the quarter. In February, we increased our PNC credit facility from $50 million to $75 million. This $25 million increase will facilitate the 2014 expansion of our warehouse distribution facility to support anticipated growth."

For earnings history and earnings-related data on Valuevision Media, Inc. (VVTV) click here.

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