Kew Media Group Inc. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Second Half and Full Year of 2018
Adjusted EBITDA in the second half 2018 as production activity ramps up over the summer months, with the majority of related revenue coming in the third and fourth quarters.
Excluding the EQ acquisition, the company expects Adjusted EBITDA of approximately CAD 21.5 million for the year ended December 31, 2018. This expectation reflects the previously announced additional corporate overhead to build out the Company's infrastructure and to position it for further growth by acquisition, as previously disclosed. No additional corporate overhead will be required for the EQ acquisition, and KEW is developing a platform capable of absorbing further corporate acquisitions. In addition, KEW MEDIA expects an Adjusted EBITDA contribution of approximately CAD 5 million from EQ in the six-month period following closing of the acquisition, resulting in a total of approximately CAD 26.5 million of Adjusted EBITDA for the year ended December 31, 2018.