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Last $4.94 USD
Change Today +0.82 / 19.90%
Volume 5.4M
SFXE On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 05/26/15 All times are local (Market data is delayed by at least 15 minutes).

sfx entertainment inc (SFXE) Key Developments

SFX Entertainment Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Revises Earnings Guidance for the Year 2015

SFX Entertainment Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the period, the company's revenue was $52,186,000 against $33,326,000 a year ago. Operating loss was $29,804,000 against $33,555,000 a year ago. Loss before income taxes was $41,920,000 against $58,237,000 a year ago. Net loss was $41,628,000 against $55,975,000 a year ago. Net loss attributable to SFX Entertainment Inc. was $41,538,000 against $56,040,000 a year ago. EBITDA of the company was $13,237,000 against $15,564,000 a year ago. Total – Pro Forma Adjusted EBITDA was $10,588,000 against $8,179,000 a year ago. The company lowered its full year 2015 guidance. The company now expects revenues for the year 2015 to be approximately $500.0 million, and expects pro forma adjusted EBITDA to be in the range of $55.0 million to $65.0 million. The adjustment to the revenue guidance is inclusive of the anticipated impact of foreign exchange as a significant portion of the company’s operations occur internationally. The adjustment to the pro forma adjusted EBITDA expectation reflects the company’s share of the expected losses related to the start-up costs for Rock in Rio Las Vegas, which is expected to be approximately $4.0 million to $5.0 million. This is mostly a reflection of the mix of shows the company’s control, where it recognize gross revenue and those the company don't where, it recognize the net result. There is no impact on EBITDA related to this mix. The company expects cash contribution from operations, as EBITDA ramps in the third and fourth quarters.

SFX Entertainment Inc. to Report Q1, 2015 Results on May 11, 2015

SFX Entertainment Inc. announced that they will report Q1, 2015 results at 5:00 PM, Eastern Standard Time on May 11, 2015

SFX Entertainment Inc., Q1 2015 Earnings Call, May 12, 2015

SFX Entertainment Inc., Q1 2015 Earnings Call, May 12, 2015

SFX Entertainment, Inc. Announces Change of Auditor

The audit committee of the board of directors of SFX Entertainment Inc. approved the engagement of BDO USA, LLP as the company's independent registered public accounting firm for the company's fiscal year ended December 31, 2015, effective immediately, and thereby ended its audit relationship with Ernst & Young LLP.

SFX Entertainment Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Twelve Months Ended December 31, 2014; Provides Earnings Guidance for the Full Year of 2015

SFX Entertainment Inc. reported unaudited consolidated financial results for the fourth quarter and twelve months ended December 31, 2014. For the quarter, the company reported revenue of $95,949,000, operating loss of $24,641,000, loss before income taxes of $39,331,000 and net loss attributable to the company of $41,105,000 against revenue of $84,162,000, operating loss of $25,915,000, loss before income taxes of $38,935,000 and net loss attributable to the company of $37,509,000 a year ago. Total pro-forma revenue was $95,949,000, LBITDA of $9,290,000, total pro forma adjusted LBITDA of $7,734,000 against total pro forma revenue of $103,913,000, LBITDA of $8,741,000, total pro forma adjusted EBITDA of $468,000 a year ago. For the twelve months, the company reported revenue of $354,449,000, operating loss of $109,249,000, loss before income taxes of $137,766,000 and net loss attributable to the company of $131,024,000 against revenue of $170,457,000, operating loss of $89,583,000, loss before income taxes of $116,716,000 and net loss attributable to the company of $110,216,000 a year ago. Total pro forma revenue was $386,226,000, LBITDA of $40,461,000, total pro-forma adjusted LBITDA of $3,392,000 against total pro forma revenue of $356,690,000, LBITDA of $36,723,000, total pro forma adjusted EBITDA of $17,726,000 a year ago. Reflecting the company's current platform, full year 2015 revenues are expected to be in excess of $500.0 million with adjusted EBITDA of $60.0 million to $70.0 million inclusive of the anticipated impact of foreign exchange as a significant portion of the company's operations occur internationally.

 

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