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Last $2.86 USD
Change Today -0.19 / -6.23%
Volume 14.1K
As of 8:10 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

premier exhibitions inc (PRXI) Key Developments

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

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.

Premier Exhibitions Inc. Auditor Raises 'Going Concern' Doubt

Premier Exhibitions Inc. filed its 10-K on May 29, 2015 for the period ending Feb 28, 2015. In this report its auditor, Cherry, Bekaert & Holland, LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Premier Exhibitions Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Audited Consolidated Earnings Results for the Full Year Ended February 28, 2015

Premier Exhibitions Inc. announced consolidated earnings results for the fourth quarter and audited consolidated earnings results for the full year ended February 28, 2015. For the quarter, the company reported total revenue of $6,875,000 against $6,197,000 a year ago. Loss from operations was $5,202,000 against $1,444,000 a year ago. Loss before income taxes was $6,095,000 against $1,549,000 a year ago. Net loss attributable to shareholders of the company was $5,477,000 against $1,390,000 a year ago. Basic and diluted loss per common share was $1.11 against $0.28 a year ago. Net cash used in operating activities was $672,000 against $481,000 a year ago. Purchases of property and equipment were $3,560,000 against $144,000 a year ago. Adjusted LBITDA, a non-GAAP measure, was $0.9 million, a decrease of $0.3 million from the prior year period. For the year, the company reported total revenue of $29,390,000 against $29,348,000 a year ago. Loss from operations was $10,487,000 against $751,000 a year ago. Loss before income taxes was $11,693,000 against $941,000 a year ago. Net loss attributable to shareholders of the company was $10,475,000 against $714,000 a year ago. Basic and diluted loss per common share was $2.13 against $0.14 a year ago. Net cash used in operating activities was $1,386,000 against net cash provided by operating activities of $483,000 a year ago. Purchases of property and equipment were $4,001,000 against $3,114,000 a year ago. Adjusted LBITDA, a non-GAAP measure, was $1.9 million, a decrease of $4.2 million from the prior year's results.

Premier Exhibitions Inc. Announces Resignation of Samuel S. Weiser as Executive Chairman and Member of the Board of Directors

On April 2, 2015, Premier Exhibitions Inc. entered into a Consulting Agreement (the Consulting Agreement) with Mr. Samuel S. Weiser, the Executive Chairman of the Board. Pursuant to the Consulting Agreement, Mr. Weiser resigned as Executive Chairman and as a member of the company's Board of Directors, effective as of the date of the Consulting Agreement, and agreed to make himself available to provide consulting advice, information regarding historical company transactions, and transition services as and when reasonably requested by the company through September 30, 2015.

Premier Exhibitions Inc., Dinosaurs Unearthed Corporation - M&A Call

To discuss merger agreement with Dinoking Tech Inc

 

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