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Last $0.40 USD
Change Today +0.005 / 1.27%
Volume 2.0K
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

rlj entertainment inc (RLJE) Snapshot

Open
$0.40
Previous Close
$0.40
Day High
$0.40
Day Low
$0.39
52 Week High
11/5/14 - $4.10
52 Week Low
06/24/15 - $0.26
Market Cap
5.2M
Average Volume 10 Days
5.7K
EPS TTM
--
Shares Outstanding
12.9M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for RLJ ENTERTAINMENT INC (RLJE)

rlj entertainment inc (RLJE) Related Businessweek News

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rlj entertainment inc (RLJE) Details

RLJ Entertainment, Inc., an entertainment company, acquires content rights in British episodic mystery and drama, urban programming, and full-length motion pictures in the United States, United Kingdom, and internationally. It operates through three segments: Intellectual Property Licensing, Wholesale, and Direct-to-Consumer. The company secures rights to third-party programs; and develops, produces, and owns original drama television programming, as well as offers fitness programs through its Acacia brand. It has a program library in genres, such as British mysteries and dramas, urban/African-American, action/thriller and horror, fitness/lifestyle, and documentaries under the Acorn, Image Entertainment, Urban Movie Channel, Acacia, Athena, and Image Madacy Entertainment brands. The company owns, produces, and exploits intellectual property rights in various formats, including DVD, Blu-ray, digital, cable and satellite broadcast, VOD, streaming video, downloading, and sublicensing. It licenses original drama and mystery content; and distributes content through digital, mobile, broadcast, cable partners, e-commerce, and brick and mortar, as well as through subscription-based digital platforms, mail-order catalogs, and digitally streaming channels. RLJ Entertainment, Inc. is based in Silver Spring, Maryland.

147 Employees
Last Reported Date: 07/28/15

rlj entertainment inc (RLJE) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $500.0K
Chief Financial Officer
Total Annual Compensation: $360.0K
Compensation as of Fiscal Year 2014.

rlj entertainment inc (RLJE) Key Developments

RLJ Entertainment, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

RLJ Entertainment, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net loss attributable to common shareholders of $1.0 million or $0.08 per basic and diluted share compared to net loss attributable to common shareholders of $2.3 million or $0.18 per basic and diluted share reported in the same period last year. Loss from operations was $5.4 million against $2.4 million reported last year. Loss before provision for income taxes was $0.3 million against $1.9 million reported last year. Revenues declined by $8.0 million to $24.1 million as compared to $32.1 million reported in the second quarter of 2014. The decrease in revenue is primarily driven by Wholesale and Direct-to-Consumer segments. Adjusted EBITDA decreased from a gain of $3.1 million for the three months ended June 30, 2014 to a loss of $628,000 for the three months ended June 30, 2015. For the six months, the company reported net loss attributable to common shareholders of $11.6 million or $0.92 per basic and diluted share compared to net loss attributable to common shareholders of $12.3 million or $0.99 per basic and diluted share reported in the same period last year. Loss from operations was $12.8 million against $8.8 million reported last year. Loss before provision for income taxes was $10.6 million against $11.7 million reported last year. Revenues declined $12.1 million to $50.2 million compared to $62.4 million reported in the six months ended June 30, 2014. Adjusted EBITDA decreased from a loss of $3.7 million for the six months ended June 30, 2014 to a loss of $4.0 million for the six months ended June 30, 2015.

RLJ Entertainment Eyes Acquisitions

RLJ Entertainment, Inc. (NasdaqCM:RLJE) is looking for acquisition opportunities. Miguel Penella, Chief Executive Officer of RLJ, commented, "RLJ Entertainment is in a much stronger financial position following our recently completed $31 million equity offering and $18.5 million reduction of debt. We continue our ongoing diligent efforts to tightly manage costs and efficiently allocate capital to content. With this improved financial profile, we remain committed to improving our balance sheet, expanding our margins, and increasing our return on invested capital through content acquisitions, as well as growing our proprietary digital streaming channels."

RLJ Entertainment Inc. Receives Non-Compliance Notice From NASDAQ

RLJ Entertainment Inc. previously disclosed that in conjunction with the $31 million private placement of convertible preferred stock transaction closed on May 20, 2015, RLJ Entertainment, Inc. agreed to reduce its Board of Directors size from nine to seven. The changes in directors, as previously announced, include the addition of two new independent directors as representatives of the holders of the convertible preferred stock and the resignation of four directors. On June 4, 2015, the company notified The NASDAQ Stock Market LLC that it was not in compliance with the board committee composition requirements as set forth in NASDAQ Listing Rule 5605 due to the director resignations announced on June 5, 2015. As a result, the company has one vacant position on its audit committee and two vacant positions on its compensation committee, which vacancies are not in compliance with NASDAQ Listing Rule 5605. On June 15, 2015, in response to the company’s notification, the company received a notice from NASDAQ confirming that the company is not in compliance with the independent director requirement as set forth in NASDAQ Listing Rule 5605. The Notice Letter indicates that consistent with NASDAQ Listing Rule 5605(c)(4) and 5605(d)(4), NASDAQ will provide the company with a cure period to regain compliance as follows: (i) until the earlier of the company's next annual shareholders' meeting or June 4, 2016 or (ii) if the company's next annual shareholders' meeting is held before December 8, 2015, then the company must evidence compliance no later than December 8, 2015. The Board of Directors expects to appoint one additional independent director to its audit committee and two additional independent directors to its compensation committee at its upcoming Board meeting to be held on June 30, 2015.

 

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