FAB Universal Corporation Reports Earnings Results for the Fourth Quarter and Full Year of 2012; Provides Earnings Guidance for the First Quarter and Full Year of 2013
For the quarter, the company recorded overall revenues of $23,996,232, an increase of 2,627% from revenues of $879,912 in the fourth quarter of 2011. This increase is substantially due to the acquisition of Digital Entertainment International. The company posted a net income of $2,274,415 or $0.11 per share against net loss of $7,826,702 or $1.03 per share in 2011.
The company expects to generate approximately between $23.1 million and $23.8 million in revenue in the first quarter of 2013. The company expects after tax net income between $4.1 million and $4.4 million for the first quarter of 2013.
The company expects to see strong growth throughout 2013. The company looks forward to generating $100 million in business in 2013 and continuing to look for substantial, cash generating digital media acquisitions both in the U.S. and abroad. The company expects to generate approximately between $98.9 million and $102.6 million in revenue for the full year 2013. The company expects after tax net income between $19.3 million and $20.1 million for the full year 2013.