CTM Media Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended January 31, 2012; Provides Capital Expenditure Guidance for 2012
March 14, 2012
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CTM Media Holdings, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended January 31, 2012. For the quarter, the company reported revenue of $7,534,000 against $7,677,000 for the same period a year ago. Income from operations was $61,000 against loss from operations of $32,000 for the same period a year ago. Income from operations before income taxes was $73,000 against loss from operations before income taxes of $12,000 for the same period a year ago. Net loss attributable to the company was $68,000 or $0.16 basic and diluted per share against net loss attributable to company of $144,000 or $0.02 basic and diluted per share for the same period a year ago.
For the six months, the company reported revenue of $16,050,000 against $16,326,000 for the same period a year ago. Income from operations was $1,005,000 against $825,000 for the same period a year ago. Income from operations before income taxes was $999,000 against $853,000 for the same period a year ago. Net income attributable to the company was $465,000 or $1.12 basic and diluted per share against $566,000 or $0.07 basic and diluted per share for the same period a year ago. Net cash provided by operating activities was $1,139,000 against $1,531,000 for the same period a year ago. Capital expenditures were $431,000 against $103,000 for the same period a year ago. Cash flow from operations varies from quarter to quarter and from year to year, depending on operating results and the timing of operating cash receipts and payments, specifically trade accounts receivable and trade accounts payable. The decrease in revenues during the three and six months ended January 31, 2012 was primarily due to decreases in distribution revenues in the New York and Canadian markets, which were partially offset by an increase in digital revenues.
The company currently anticipates that total capital expenditures for all of its divisions in fiscal 2012 will be approximately $1,300,000.
IDW Media Holdings, Inc. is an integrated media company providing compelling stories and characters for global audiences. The Company's segments include IDW Publishing (IDWP) and IDW Entertainment (IDWE). IDWP is a publishing company that creates comic books, graphic novels and digital content through its imprints IDW, Top Shelf Productions and Artists Editions. IDWE is a production company and studio that develops, produces and distributes content based on IDWP original, copyrighted intellectual property (IP), published in the form of comic books, graphic novels and any other forms of print publication, for a variety of formats, including film and television. Its comics and graphic novels are primarily distributed through three channels: to comic book specialty stores; to traditional retail outlets, including bookstores and mass market stores, on a returnable basis, and to e-book distributors. IDWP publications are available digitally through a range of distributors.
CTM Media Holdings, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended January 31, 2012; Provides Capital Expenditure Guidance for 2012