Home / Knowledge / News / Apparel/Garments / Q2 revenues leap at Sequential Brands Group
Q2 revenues leap at Sequential Brands Group
01
Aug '13
Sequential Brands Group, Inc. announced financial results for the second quarter ended June 30, 2013.

Highlights:

- Q2 revenue of $4.3 million vs. $1.0 million in prior year quarter

- Q2 adjusted EBITDA of $2.5 million, representing a 57% adjusted EBITDA margin

- Company projects revenue of $23-25 million over the next twelve months

- Company completes capital raise of $44 million to bolster acquisition strategy

Second Quarter 2013 Results:

Total revenue from continuing operations for the second quarter ended June 30, 2013 increased to approximately $4.3 million, compared to approximately $1.0 million in the prior year quarter.

Adjusted EBITDA for the second quarter was approximately $2.5 million, compared to approximately $0.2 million in the prior year quarter. On a non-GAAP basis, net income for the quarter was approximately $0.8 million, or $0.05 per share, compared to approximately $0.1 million, or $0.04 per share, the prior year quarter and on a GAAP basis, net income for the quarter was approximately $0.7 million, or $0.04 per share, compared to a net loss of approximately $0.9 million, or ($0.37) per share, the prior year quarter.

Yehuda Shmidman, Sequential's Chief Executive Officer, stated, "We are pleased with our second quarter results and encouraged by the overall progress that we have made since we converted to a licensing model last year.

"Year to date, we have doubled our brand portfolio from three brands to six brands, assembled a team of best-in-class brand management professionals to drive organic growth, and we have positioned our company with a powerful balance sheet to execute on our brand acquisition strategy. It is an exciting time for Sequential Brands Group."

Gary Klein, Sequential's Chief Financial Officer, added, "Our financial results for the second quarter were in line with management's expectations and are more reflective than prior quarters of the new business model we began last year. In addition, with the completion of our recent $44 million private placement of our common stock, we have over $57 million of cash on our balance sheet to help fuel our growth strategy. "

June Year-to-Date 2013 Results:

Total revenue from continuing operations for the six months ended June 30, 2013 increased to approximately $6.0 million, compared to approximately $2.1 million for the prior year period. The Company's adjusted EBITDA was approximately $1.3 million, compared to approximately $0.3 million for the six months ended the prior year and the Company's non-GAAP net loss was approximately $0.6 million, or ($0.05) per share, for the six months ended June 30, 2013, compared to net income of approximately $0.1 million, or $0.04 per share, in the prior year.

Net loss on a GAAP basis was approximately $20.8 million for the six months ended June 30, 2013, or ($1.76) per share, compared to a net loss of approximately $1.3 million, or ($0.54) per share, in the prior year quarter, as the Company incurred certain costs in the first quarter of 2013, both cash and non-cash, that were either not representative of the Company's ongoing business or were unusual in nature.

Sequential Brands Group


Must ReadView All

Two slabs of GST will affect Bengaluru garment units: SIGA

Apparel/Garments | On 23rd Jan 2018

Two slabs of GST will affect Bengaluru garment units: SIGA

The South India Garment Association (SIGA) has voiced its concern...

US FTC updates textile rules to drop obsolete requirement

Textiles | On 23rd Jan 2018

US FTC updates textile rules to drop obsolete requirement

The US Federal Trade Commission has eliminated an obsolete provision...

Indian textile industry at inflection point: Report

Textiles | On 23rd Jan 2018

Indian textile industry at inflection point: Report

The textile and apparel sector of India is at an inflection point...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Riddhi Jain

Conceived in Europe and curated in New Delhi, NeceSera is a...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search