Business
RLJ Entertainment reports financial results – posts loss in Quarter 4
Robert L. Johnson, Founder and Chairman of The RLJ Companies
RLJ Entertainment Inc., has reported results for the fourth quarter and full year ended December 31, 2013.
RLJ Entertainment is a leading creator, owner and distributor of media content across digital, broadcast and physical platforms. The Company leverages its branding expertise, access to content and direct to consumer skills to optimize the value of its programs for distinct audiences.
RLJ Entertainment is focused on driving growth through the development of interest-based entertainment services for targeted audiences in niche genres including British drama and mystery, urban, action/thriller, and fitness, by using new technologies to deliver that content to consumers.
Robert L. Johnson, Chairman of RLJ Entertainment stated, “I am pleased with the progress the RLJ Entertainment management team has made right sizing the business and allocating capital to growth areas. As the appetite for unique and genre-specific content continues to grow both domestically and internationally and across multiple platforms, I am confident that RLJ Entertainment is well positioned to capitalize on this demand and drive cash flow generation, especially as it continues to develop new proprietary digital channels.”
The company reported a fourth-quarter loss of US$2.1 million, compared with a profit of US$1.6 million during the same period a year ago. Revenue declined US$2 million to US$57.5 million.
The loss was attributed to an increase in cost of sales of US$3.9 million – including US$1.6 million in content rights and inventories – compared with US$143,000 increase in cost of sales during the period of October 3 through December 31, 2012.
About RLJ Entertainment: RLJ Entertainment, Inc. is a premier independent owner, developer, licensee and distributor of entertainment content and programming in primarily North America, the United Kingdom and Australia with over 5,300 exclusive titles.
