![]() The impact of the COVID-19 pandemic and the pace at which there are new developments has created significant uncertainty in the current economic environment. Adjusted EBITDA from continuing operations for the year ended Decemwas $56.9 million, compared to $45.8 million in the prior year period. ![]() Non-GAAP net loss from continuing operations for the year ended Decemwas $14.5 million, or $8.79 per diluted share, compared to a non-GAAP net loss of $16.0 million, or $9.82 per diluted share, in the prior year period. For both GAAP and non-GAAP financial measures, included in the loss from continuing operations for the year ended Decemwere non-cash impairment charges of $85.6 million for indefinite-lived intangible assets related to the trademarks for the Jessica Simpson, Gaiam, Joe’s and Ellen Tracy brands reflecting the financial impacts of COVID-19 and a $2.9 million loss resulting from the Company’s entry into agreement to exit its remaining lease obligation from its former office headquarters. On a GAAP basis, loss from continuing operations for the year ended Decemwas $88.1 million or $53.54 per diluted share, compared to loss from continuing operations of $34.3 million or $21.21 per diluted share for the year ended December 31, 2019. ![]() Total revenue from continuing operations for the year ended Decemwas $89.8 million, compared to $101.6 million in the prior year period. Adjusted EBITDA from continuing operations (defined under “Non-GAAP Financial Measures” below) for the fourth quarter of 2020 was $13.2 million, compared to $8.0 million in the prior year quarter.)įull Year 2020 Results from Continuing Operations: See Non-GAAP Financial Measure Reconciliation tables below for a reconciliation of GAAP to non-GAAP measures. Non-GAAP net loss from continuing operations for the fourth quarter 2020 was $4.5 million, or $2.73 per diluted share, compared to a non-GAAP net loss of $8.9 million, or $5.48 per diluted share, in the prior year quarter. For both GAAP and non-GAAP financial measures, included in loss from continuing operations for the fourth quarter 2020 was a $2.9 million loss resulting from the Company’s entry into agreement to exit its remaining lease obligation from its former office headquarters. On a GAAP basis, loss from continuing operations for the fourth quarter 2020 was $4.4 million or $2.65 per diluted share, compared to loss from continuing operations for the fourth quarter 2019 of $7.9 million or $4.87 per diluted share. Total revenue from continuing operations for the fourth quarter ended Decemwas $23.0 million, compared to $24.2 million in the prior year quarter. As a result of the Reverse Stock Split, the Company regained compliance with the minimum bid price listing rules of The Nasdaq Stock Market.įourth Quarter 2020 Results from Continuing Operations: Prior periods have been reclassified to reflect the change in the Company’s stated capital attributable to common stock which was reduced proportionately to the Reverse Stock Split ratio, and the additional paid-in capital account which was credited with the amount by which common stock was reduced. All share and per share amounts in this press release reflect the Reverse Stock Split. On July 27, 2020, the Company’s previously announced 1 share-for-40 shares (1:40) reverse stock split (the “Reverse Stock Split”) of the Company’s outstanding common stock, par value $0.01 per share became effective. (“Sequential” or the “Company”) (Nasdaq:SQBG) today announced financial results for the fourth quarter and full year ended December 31, 2020. Consensus Securities provided fairness opinion to Sequential.NEW YORK, Ap(GLOBE NEWSWIRE) - Sequential Brands Group, Inc. The legal adviser was Gibson, Dunn & Crutcher LLP. Private equity firm Tengram Capital Partners led the buyout for Sequential. Moelis & Co were Martha Stewart Living’s financial advisers, while Debevoise & Plimpton LLP advised it on legal matters. Sequential’s shares rose 2.6 percent to a six-and-a-half year high of $17.45, but were little changed by midday. Martha Stewart Living’s shares, which closed up 26.3 percent after the Journal’s report on Thursday, fell as much as 14.4 percent to $5.97 on Monday. Stewart, who owns 46.2 percent of Martha Stewart Living, will become a significant shareholder in Sequential and serve as its chief creative officer. ![]() The company also merchandises home improvement products, sold by retailers such as Home Depot Inc and Macy’s Inc. Martha Stewart Living gets more than half its revenue from its publishing business, which includes the Martha Stewart Living and Martha Stewart Weddings magazines.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |