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
'Justice League' Currently Stumbling With $97M+ Opening: Are 'Wonder' & 'Thor' Cutting Into Business?
Sony Pictures Confirms Quentin Tarantino Deal; Margot Robbie, Tom Cruise, Brad Pitt, Leonardo DiCaprio Circling
Ryan Eggold, Who Played Fan Favorite Tom Keen In 'The Blacklist,' Joins Spike Lee's 'Black Klansman'
Actress Accuses 'Girls' EP Murray Miller Of Sexual Assault; Showrunners Lena Dunham & Jenni Konner Defend Him - Update
Latest Film News
- Vice Forms All-Female Advisory In Wake Of Exec’s Conduct Suspension
- AT&T-Time Warner Merger Antitrust Review Casting Pall Over Fox Talks
- Pete Hammond’s Notes On The Season: WGA Nixes ‘Three Billboards’; Bleecker Puts Lumps Of Coal In Critics’ Stockings; ‘Get Out…
- ‘Get Out’s Jordan Peele Responds To Golden Globes Category
- Douglas Booth In Talks To Play Nikki Sixx In Motley Crue Biopic ‘The Dirt’
- New Regency Lands ‘The Skies Belong To Us’ Based On Story Of Historic Hijacking