Post by Admin on Sept 13, 2019 15:54:44 GMT
icv2.com/articles/news/view/44036/idw-publishing-loses-1-2-million-fiscal-q3
IDW PUBLISHING LOSES $1.2 MILLION IN FISCAL Q3
Strong Launch of 'They Called Us Enemy' Helped Maintain Sales
Posted by Milton Griepp on September 13, 2019 @ 5:25 am CT
IDW Publishing reported a $1.2 million operating loss in the company’s Q3 ended July 31, most of parent IDW Media Holdings’ $1.5 million loss for the quarter. IDW Publishing sales were down 5% from the year ago quarter, with a strong launch for George Takei’s They Called Us Enemy helping to improve performance from the company’s Q2, when publishing sales were down 15% (see "IDW Publishing Sales Down, Losses Worsen in Q2").
The $1.2 million operating loss for Publishing was a decline in performance from the $801,000 loss in the year ago period. Game sales were down $139,000 due to release timing and $80,000 due to a one-time specialty project in 2018.
Results for Clover Press, the new company formed by IDW’s founders (see "Diamond Signs Clover Press"), were consolidated with IDW Publishing. Clover Press is in start-up mode; it had an operating loss of $142,000 on revenues of $29,000.
Revenues in the company’s other divisions, IDW Entertainment and CTM Media, were also down; IDW Media Holdings overall revenues were down 19% to $11.5 million.
IDW will book revenue and expenses for October Faction and V-Wars in its Q4, as they are delivered to Netflix.
IDW PUBLISHING LOSES $1.2 MILLION IN FISCAL Q3
Strong Launch of 'They Called Us Enemy' Helped Maintain Sales
Posted by Milton Griepp on September 13, 2019 @ 5:25 am CT
IDW Publishing reported a $1.2 million operating loss in the company’s Q3 ended July 31, most of parent IDW Media Holdings’ $1.5 million loss for the quarter. IDW Publishing sales were down 5% from the year ago quarter, with a strong launch for George Takei’s They Called Us Enemy helping to improve performance from the company’s Q2, when publishing sales were down 15% (see "IDW Publishing Sales Down, Losses Worsen in Q2").
The $1.2 million operating loss for Publishing was a decline in performance from the $801,000 loss in the year ago period. Game sales were down $139,000 due to release timing and $80,000 due to a one-time specialty project in 2018.
Results for Clover Press, the new company formed by IDW’s founders (see "Diamond Signs Clover Press"), were consolidated with IDW Publishing. Clover Press is in start-up mode; it had an operating loss of $142,000 on revenues of $29,000.
Revenues in the company’s other divisions, IDW Entertainment and CTM Media, were also down; IDW Media Holdings overall revenues were down 19% to $11.5 million.
IDW will book revenue and expenses for October Faction and V-Wars in its Q4, as they are delivered to Netflix.