Premier Exhibitions Inc. Announces Unaudited Consolidated Earnings Results and Operating Results for the Third Quarter and Nine Months Ended November 30, 2012
January 09, 2013 at 09:07 pm
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Premier Exhibitions Inc. announced unaudited consolidated earning results and operating results for the third quarter and nine months ended November 30, 2012. For the quarter, the company's total revenue was $7,912,000 compared to $6,226,000 a year ago. Loss from operation was $732,000 compared to $2,176,000 a year ago. Loss before income taxes was $831,000 compared to $2,188,000 a year ago. Net loss was $880,000 compared to $2,188,000 a year ago. Net loss attributable to the shareholders of the company was $629,000 compared to $2,188,000 a year ago. Basic and diluted loss per share was $0.01 compared to $0.05 a year ago. Net cash provided by operating activities was $902,000 compared to net cash used in operating activities of $509,000 for the same period a year ago. Purchases of property and equipment were $200,000 compared to $56,000 for the same period a year ago. Adjusted EBITDA was $675,000 compared to adjusted LBITDA of $1,097,000 for the same period a year ago. The growth in overall revenue was primarily due to higher merchandise revenue, which was driven by the assets and merchandising rights purchased from Exhibit Merchandising, LLC.
For the nine months, the company's total revenue was $32,802,000 compared to $24,166,000 a year ago. Income from operations was $3,825,000 compared to loss from operations of $3,080,000 a year ago. Income before income taxes was $3,640,000 compared to loss before income taxes of $3,078,000 a year ago. Net income was $3,363,000 compared to net loss of $3,117,000 a year ago. Net income attributable to the shareholders of the company was $3,347,000 compared to net loss attributable to the shareholders of the company of $2,878,000 a year ago. Basic and diluted income per share was $0.07 compared to basic and diluted loss per share of $0.06 a year ago. Net cash provided by operating activities was $5,009,000 compared to $599,000 a year ago. Purchases of property and equipment were $545,000 compared to $966,000 a year ago. Adjusted EBITDA was $7,601,000 compared to $1,501,000 a year ago.
For the quarter, the company announced number of venues presented of 26 compared to 18 for the same period a year ago. Total operating days were 1,246 compared to 1,244 for the same period a year ago. Total attendance was 497,000 compared to 373,000 for the same period a year ago. Average attendance per day was 399 compared to 304 for the same period a year ago.
For the nine months, the company announced number of venues presented of 32 compared to 28 for the same period a year ago. Total operating days were 4,205 compared to 3,368 for the same period a year ago. Total attendance was 2,245,000 compared to 1,517,000 for the same period a year ago. Average attendance per day was 534 compared to 451 for the same period a year ago.
Pryxie Liquidation Corp., formerly Premier Exhibitions, Inc., is a provider of museum-quality exhibitions. The Company is engaged in developing and displaying exhibitions for education and entertainment. The Company presents touring exhibitions around the world. The Company's exhibitions present opportunities to experience compelling stories using authentic objects and artifacts in diverse environments. Its exhibitions are presented in museums, exhibition centers and other entertainment venues. Its exhibitions are presented in areas, including Philadelphia, Winnipeg, Gallipolis, Calgary, Las Vegas and Atlanta. The Company's services include content development, exhibit design, brand development, space planning and detailed fabrication drawings. It also offers services, such as merchandising; e-commerce, and conceptual exhibition design, including branding, space planning and exhibition design.
Premier Exhibitions Inc. Announces Unaudited Consolidated Earnings Results and Operating Results for the Third Quarter and Nine Months Ended November 30, 2012