Business school students who want to test their accounting skills should check out today’s fiscal Q3 report from Cinedigm Digital Cinema. The official numbers look scary, with a net loss increasing to $10.6M from $4.1M in the period last year, on revenues of $19.8M, up 23%. But Cinedigm is in the middle of a corporate transformation to focus on providing alternative programming such as sports events and concerts to digitally equipped movie theaters. That loaded $8.1M in non-cash and one-time charges to the books — some of it due to the company’s decision to sell its physical and electronic distribution business to Technicolor for an undisclosed amount. Wipe that away, and you’re left with what CEO Chris McGurk says is a “strong” report with figures that “reflect the progress we’ve made.” Cinedigm shares have been a roller coaster ride since he took over early last year but are up 31% over the last 12 months — including a 50% spike in just the last two weeks following the announcement of a deal with New Video to bring more independent films to theaters.
Cinedigm Fiscal Q3 Loss Grows, But With An Explanation
What's Hot on Deadline
DC Digital Service To Launch With 'Titans' Series From Greg Berlanti & Akiva Goldsman And 'Young Justice: Outsiders'
Trevor Noah On Trump Ignoring First 100 Days: If Voters Chose The Number They Preferred "You Wouldn’t Be In The White House”
'Bates Motel' Shuts Its Doors With Bloody Series Finale; Will Other Hitchcock Pics Find Their Way To TV?
Latest Film News
- ‘Isle Of Dogs’: Fox Searchlight Sets Wes Anderson’s All-Star Toon For 2018
- WGA Establishes Strike Fund In Preparation For Walkout
- ‘Star Wars,’ ‘Frozen 2’ And ‘The Lion King’: Disney Unleashes A Barrage Of Release Dates
- WWE Ring Titan Vince McMahon Getting His Close-Up With ‘Pandemonium’
- IFC Midnight Nabs ‘Darkness Rising’; Music Box Tunes Up ‘Chavela’ Docu
- Roman Polanski Rape Victim Joins Director’s Latest Effort For U.S. Return