DHX Media has revealed preliminary financial results for its fiscal 2018 fourth quarter and the full year, ended on June 30.
Revenue was $99 million in Q4 2018 and $436 million in fiscal 2018, up from $87.6 million and $298.7 million, respectively, last year. Net loss for the period is expected to be $20 million to $18 million for Q4 2018, and $8 million to $6 million for fiscal 2018. These figures are subject to change.
Final financial results will be reported on September 25, 2018. At that time, the special committee of the company’s board of directors is also expected to provide an update on its strategic review.
“We have taken significant corrective actions to return to strong and sustainable organic growth, which are not yet reflected in our reported results,” said Michael Donovan, the executive chair and CEO at DHX Media. “These actions have included rebuilding the executive team and investing in stronger systems. DHX Media intends to earn back the confidence of shareholders in the value of the company’s assets and the management team’s ability to execute and surface value, as it reports results throughout fiscal 2019 and beyond. Management looks forward to discussing these and other developments in more detail on our full earnings call on September 25. Furthermore, management firmly believes that the recent decline in the company’s share price is not reflective of the current financial health of the business, the value of the company’s assets or the future earnings potential of DHX Media.”