Zahlen sind da, am Deal wird gearbeitet. 0.07$ EPS, knappe $3m Gewinn. Genaueres steht unten:
GENER8 ANNOUNCES ITS BEST QUARTERLY RESULTS
VANCOUVER, BRITISH COLUMBIA, May 27, 2014 - Gener8 Media Corp. (CSE: GNR) ("Gener8" or the "Company") is pleased to announce the release of its unaudited financial results for the first quarter ended March 31, 2014. All figures are in Canadian dollars.
"We are excited to announce these results, as they represent the best revenue and net income we have had to date," says Rory Armes, CEO. "The positive numbers are due to our strong performance on the 3D conversion side, the great work being done by our team, the support of our amazing customers, and the benefits of our early support in Reelhouse."
Q1 2014 Financial Highlights:
Revenue for the three months ended March 31, 2014 was $4,127,609, an increase of 240% compared to the three months ended March 31, 2013 Net income for the three months ended March 31, 2014 was $2,912,875 ($0.07 earnings per share), an increase of 270% compared to the three months ended March 31, 2013 Net income increased due to the gain from the re-measurement to fair value of the Company's 48% interest in Reelhouse Media Ltd. ("Reelhouse") This quarter Gener8 achieved its highest revenue in the Company's short history Q1 2014 Operational Update:
Gener8 was completing the 3D conversion of two feature films at the end of March 31, 2014 The Company acquired 48% of Reelhouse through the conversion of a $1.125 million promissory note in Reelhouse, and subsequently acquired an additional 18% interest providing the Company a 66% majority voting interest in Reelhouse Gener8 signed an Asset Purchase Agreement with Tianjin Fu Feng Da Movie & Television Technology Investment and Development Co. Ltd ("FFD") The Company signed a multi-picture deal to convert three animated films into 3D with Rainmaker Entertainment Inc. Gener8 launched a new visual effects division called The Feder8tion
Financial Summary for the first quarter ended March 31, 2014 Three months ended Mar 31, 2014 Mar 31, 2013 Revenue $ 4,127,609 $ 1,208,276 Net income (loss) and comprehensive income (loss) for the period 2,912,875 (1,712,395) Basic income (loss) per share $ 0.07 $ (0.04) FFD Transaction Update:
The partnership agreement, which was targeted to close on May 23, 2014, is in the process of obtaining final approval from the Chinese government. While the $1 million advance by FFD has become non-refundable and the exclusivity provision between FFD and the Company has expired, both parties continue to proceed to close as quickly as possible.
Upon the closing of this transaction, the Company will retain a 40% interest in the 3D business, which will be accounted for going forward on an equity basis. The approximate $12 million net proceeds from the FFD transaction will be used to fund continued development and growth of the Company"s Cumul8 and Reelhouse technologies |