Premier Exhibitions Inc. Announces Unaudited Consolidated Financial Results for the First Quarter Ended May 31, 2015; Reports Impairment Charges for the First Quarter Ended May 31, 2015
July 09, 2015 at 05:05 pm EDT
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Premier Exhibitions Inc. announced unaudited consolidated financial results for the first quarter ended May 31, 2015. For the quarter, the company reported total revenue decreased 3.2% to $7.2 million compared to $7.5 million in the first quarter of fiscal 2015. Exhibition revenue was negatively impacted by a reduction in the number of exhibitions rented to promoters or museums. Net loss after non-controlling interest was $2.3 million, or $0.46 per diluted share, compared to net loss after non-controlling interest of $1.2 million, or $0.25 per diluted share in last year's first fiscal quarter. Adjusted EBITDA, a non-GAAP measure, was $0.6 million, a decrease of $0.4 million from in the prior year. EBITDA, a non-GAAP measure was $0.6 million, a decrease of $0.4 million from in the prior year. Loss from operations was $2,164,000 against $1,358,000 a year ago. Loss before income taxes was $2,545,000 against $1,363,000 a year ago. Net cash provided by operating activities was $1,369,000 against net cash from operating activities of $1,119,000 a year ago. Purchases of property and equipment were $5,166,000 against $370,000 a year ago.
The company reported write-off of assets of $16,000 for the first quarter ended May 31, 2015.
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 Financial Results for the First Quarter Ended May 31, 2015; Reports Impairment Charges for the First Quarter Ended May 31, 2015