IPic Entertainment Inc. Announces Unaudited Consolidated Financial Results for the Quarter and Year Ended December 31, 2017; Reiterates Financial Guidance for the Year Ending December 31, 2018
For the year, the company reported total revenue of $139,419,000 against $124,816,000 for the same period a year ago. Operating loss was $28,370,000 against $23,418,000 for the same period a year ago. Net loss before income tax expense was $44,456,000 against $34,136,000 for the same period a year ago. Net loss was $44,523,000 against $34,223,000 for the same period a year ago. LBITDA was $8,679,000 against $7,399,000 for the same period a year ago. Adjusted LBITDA was $714,000 against EBITDA $844,000 for the same period a year ago. Net cash used in operating activities was $9,482,000 against Net cash provided by operating activities of $6,518,000 for the same period a year ago. Purchases of property and equipment was $16,502,000 against $57,899,000 for the same period a year ago.
For the year ending December 31, 2018, the company expects total revenue growth of +3% to +7%. Comparable-store sales growth is expected to be of 0% to +5%.Store-level EBITDA, a non-GAAP measure is expected to be of $17.0 million to $18.0 million (unchanged outlook in dollars compared to prior guidance, which was +20% to +30% growth on top of preliminary 2017 EBITDA expectations of $13.7 million to $14.3 million). Adjusted EBITDA, a non-GAAP measure is expected to be loss of $1.5 million to $0.5 million, reflecting a substantial improvement from full year 2017. Capital expenditures is expected to be of $20 million to $25 million, net of tenant improvement dollars.