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
Bill O'Reilly Defends Comments That Slaves Who Built The White House Were "Well-Fed And Had Decent Lodging" - Update
Latest Film News
- Comedy Pic ‘Poms’ In Works With Sierra/Affinity Aboard
- ‘The Fighter’ Scribes To Co-Write Movie About Leicester City’s Hollywood-Ending English Soccer Season
- New Line Sets Sequel To Fright Sensation 'Lights Out'
- Anne Heche Plays Killer’s Mom In ‘My Friend Dahmer’
- ‘The Life And Death Of John Gotti’ Cast Locked
- Ben Foster Rounds Out Scott Cooper’s ‘Hostiles’ Cast As Shooting Starts