Acorn International (ATV) Reports Q3 Revenue of $7.54M, Approves $2M Buyback
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Acorn International Reports Financial Results for the Third Quarter of 2017 and Announces $2.0 Million Share Buyback Plan
December 15, 2017 6:30 AM ESTSHANGHAI, Dec. 15, 2017 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), today announced its unaudited financial results for the third quarter ended September 30, 2017.
In the third quarter of 2017, Acorn experienced a moderate year-over-year decline in revenues following the partial divestiture of its HJX electronic learning products business announced in August 2017. The exit from the HJX business drove increases in gross profit and reductions in operating expenses and more importantly, allowed the Company to focus on expanding its already profitable businesses and brands.
As a result,... More
