Home / Knowledge / News / Apparel/Garments / Sequential Brands Q3 revenues skyrocket
Sequential Brands Q3 revenues skyrocket
06
Nov '13
Sequential Brands Group, Inc. announced financial results for the third quarter ended September 30, 2013.

Sequential Brands Group Announces Third Quarter Results

-Q3 revenue of $6.1 million vs. $1.3 million in prior year quarter
-Q3 adjusted EBITDA of $3.8 million, representing a 63% adjusted EBITDA margin
-Q3 non-GAAP Net Income of $2.0 million vs. $0.2 million in the prior year quarter
-Earlier, Company announced acquisition of The Franklin Mint brand
-Increasing forward looking twelve month projected revenue to $28-30 million, operating at 55% adjusted EBITDA margin

Third Quarter 2013 Results:

Total revenue for the third quarter ended September 30, 2013 increased to approximately $6.1 million, compared to approximately $1.3 million in the prior year quarter. Adjusted EBITDA for the third quarter was approximately $3.8 million, compared to approximately $0.4 million in the prior year quarter.

On a non-GAAP basis, net income for the quarter was approximately $2.0 million, or $0.08 per share, compared to approximately $0.2 million, or $0.07 per share, the prior year quarter. On a GAAP basis, net loss for the quarter was approximately $1.2 million, or ($0.05) per share, compared to a net loss of approximately $0.5 million, or ($0.20) per share, the prior year quarter.

Yehuda Shmidman, Sequential's Chief Executive Officer, stated, "It was a busy quarter for Sequential. We raised over $44 million in capital through a private placement, completed the acquisition of the REVO brand and up-listed to NASDAQ.

"The revenue generated this past quarter from our portfolio of brands represents record levels for us as a pure-play brand management company, demonstrating the type of growth trajectory we set out to achieve when we began to transform our business model last year.

"Looking ahead, we believe we are well positioned to both achieve our organic growth targets and to continue to expand our portfolio with the acquisition of new brands, as we aim to be a leading global brand management firm."

September Year-to-Date 2013 Results:

Total revenue for the nine months ended September 30, 2013 increased to approximately $12.0 million, compared to approximately $3.4 million for the prior year period.

The Company's adjusted EBITDA was approximately $5.1 million, compared to approximately $0.7 million for the nine months ended the prior year and the Company's non-GAAP net income was approximately $1.4 million, or $0.09 per share, for the nine months ended September 30, 2013, compared to net income of approximately $0.3 million, or $0.12 per share, in the prior year.

Net loss on a GAAP basis was approximately $22.0 million for the nine months ended September 30, 2013, or ($1.43) per share, compared to a net loss of approximately $1.8 million, or ($0.74) per share, in the prior year, as theCompany incurred certain costs during 2013, both cash and non-cash, that were not representative of the Company's ongoing business.

Sequential Brands


Must ReadView All

Textiles | On 23rd Aug 2017

US govt initiates Section 301 investigation of China

The US government has initiated an investigation of China under...

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Pakistan minister seeks ideas to boost textile sector

The Pakistani Government will come out with short- and long-term...

Interviews View All

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

August 2017

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
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

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
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

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
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

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
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


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