10-Q
RLJ ENTERTAINMENT, INC. filed this Form 10-Q on 11/09/2017
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RLJ Entertainment, Inc.

 

Notes To Consolidated Financial Statements

(Unaudited)

 

The following tables summarize the segment contribution for the nine months ended September 30, 2017 and 2016:

 

 

 

Nine Months Ended September 30, 2017

 

(In thousands)

 

Digital

Channels

 

 

IP Licensing

 

 

Wholesale

Distribution

 

 

Corporate

 

 

Total

 

Revenues

 

$

19,358

 

 

$

45

 

 

$

34,217

 

 

$

 

 

$

53,620

 

Operating costs and expenses

 

 

(12,342

)

 

 

(342

)

 

 

(32,316

)

 

 

(9,218

)

 

 

(54,218

)

Depreciation and amortization

 

 

(702

)

 

 

(96

)

 

 

(1,486

)

 

 

(467

)

 

 

(2,751

)

Share in ACL earnings

 

 

 

 

 

3,143

 

 

 

 

 

 

 

 

 

3,143

 

Segment contribution income (loss)

 

$

6,314

 

 

$

2,750

 

 

$

415

 

 

$

(9,685

)

 

$

(206

)

 

 

 

Nine Months Ended September 30, 2016

 

(In thousands)

 

Digital

Channels

 

 

IP Licensing

 

 

Wholesale

Distribution

 

 

Corporate

 

 

Total

 

Revenues

 

$

11,053

 

 

$

43

 

 

$

40,786

 

 

$

 

 

$

51,882

 

Operating costs and expenses

 

 

(6,555

)

 

 

(225

)

 

 

(40,481

)

 

 

(8,172

)

 

 

(55,433

)

Depreciation and amortization

 

 

(442

)

 

 

(103

)

 

 

(1,199

)

 

 

(356

)

 

 

(2,100

)

Share in ACL earnings

 

 

 

 

 

2,198

 

 

 

 

 

 

 

 

 

2,198

 

Segment contribution income (loss)

 

$

4,056

 

 

$

1,913

 

 

$

(894

)

 

$

(8,528

)

 

$

(3,453

)

 

A reconciliation of total segment contribution income (loss) to loss from continuing operations before provision for income taxes is as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(In thousands)

 

2017

 

 

2016

 

 

2017

 

 

2016

 

Segment contribution income (loss)

 

$

39

 

 

$

594

 

 

$

(206

)

 

$

(3,453

)

Interest expense, net

 

 

(2,288

)

 

 

(2,222

)

 

 

(6,326

)

 

 

(6,617

)

Change in fair value of stock warrants and other

   derivatives

 

 

(264

)

 

 

(1,222

)

 

 

(3,647

)

 

 

(3,406

)

Gain on extinguishment of debt

 

 

 

 

 

 

 

 

470

 

 

 

 

Other income (expense), net

 

 

169

 

 

 

(42

)

 

 

614

 

 

 

(772

)

Loss from continuing operations before

   provision for income taxes

 

$

(2,344

)

 

$

(2,892

)

 

$

(9,095

)

 

$

(14,248

)

 

Total assets for each segment primarily include accounts receivable, inventory and investments in content. The Corporate segment primarily includes assets not fully allocated to any other segment including consolidated cash accounts, certain prepaid assets and fixed assets used across all segments.

Total assets by segment, excluding assets of discontinued operations, are as follows:

 

 

 

September 30,

 

 

December 31,

 

(In thousands)

 

2017

 

 

2016

 

Digital Channels

 

$

7,806

 

 

$

5,941

 

IP Licensing

 

 

21,717

 

 

 

18,648

 

Wholesale Distribution

 

 

107,068

 

 

 

102,748

 

Corporate

 

 

7,813

 

 

 

8,643

 

 

 

$

144,404

 

 

$

135,980

 

 

 

15


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