Reservoir Media, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 07, 2024 at 08:01 am EST
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Reservoir Media, Inc. reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was USD 35.48 million compared to USD 29.93 million a year ago. Net loss was USD 2.96 million compared to USD 4.41 million a year ago. Basic loss per share from continuing operations was USD 0.05 compared to USD 0.07 a year ago. Diluted loss per share from continuing operations was USD 0.05 compared to USD 0.07 a year ago.
For the nine months, sales was USD 105.71 million compared to USD 87.48 million a year ago. Net loss was USD 2.15 million compared to net income of USD 0.206349 million a year ago. Basic loss per share from continuing operations was USD 0.03. Diluted loss per share from continuing operations was USD 0.03.
Reservoir Media, Inc. is an independent music company. The Company operates a music publishing business, a record label business, a management business and a rights management entity in the Middle East. The Company operates in two segments: Music Publishing and Recorded Music. Operations of the Music Publishing segment involve the acquisition of interests in music catalogs, from which royalties are earned, as well as signing songwriters to agreements. Operations of the Recorded Music segment involves the acquisition of sound recording catalogs, as well as the discovery and development of recording artists and the marketing, distribution, selling and licensing of the music catalogs. Its publishing catalog includes compositions written and performed by Joni Mitchell, The Isley Brothers, Billy Strayhorn, Hoagy Carmichael and John Denver. Its songwriters include James Fauntleroy, Ali Tamposi, Jamie Hartman and Oak Felder.
RESERVOIR MEDIA, INC. 
