Sequential posts flat revenue growth in Q2

Sequential Brands Group, Inc. has said that its revenue for the second quarter was 42.2 million dollars. The company added that under ASC 605, revenue for the quarter would have been 43 million dollars compared to 42.1 million dollars in the second quarter 2017. On a GAAP basis, net income for the quarter was 3.6 million dollars or 0.06 dollar per diluted share, while the company added that under ASC 605, GAAP net income would have been 4 million dollars or 0.06 dollar per diluted share, compared to 2.5 million dollars or 0.04 dollar per diluted share in the second quarter 2017.

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“We’re pleased with our second quarter results and the solid performance of our core brands," said Karen Murray, CEO of Sequential Brands Group in a statement, adding, “The completion of our refinance strengthens our capital structure as we focus on executing on our growth strategy. We thank our lenders for their ongoing support.”

On a non-GAAP basis, net income for the second quarter was 7.2 million dollars or 0.11 dollar per diluted share. Under ASC 605, the company said, non-GAAP net income for the quarter would have been 7.8 million dollars or 0.12 dollar per diluted share, flat compared to second quarter 2017. Adjusted EBITDA for the quarter was 24.7 million dollars and under ASC 605, the company added, adjusted EBITDA would have been 25.3 million dollars, compared to 24.7 million dollars in the second quarter 2017.

Sequential reports H1 revenues of 80.3 million dollars

Revenue for the six months ended June 30, 2018, the company said, was 80.3 million dollars, and under ASC 605, revenue for the period would have been 82.4 million dollars compared to 81.5 million dollars in the prior year period.

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On a GAAP basis, net income for the six months was 1.3 million dollars or 0.02 dollar per diluted share and under ASC 605, GAAP net income, the company added, would have been 2.8 million dollars or 0.04 dollar per diluted share, compared to 1.4 million dollars or 0.02 dollar per diluted share in the prior year period. On a non-GAAP basis, net income for the six months ended was 10.8 million dollars or 0.17 dollar per diluted share. Under ASC 605, non-GAAP net income for the period, Sequential said, would have been 12.7 million dollars or 0.20 dollar per diluted share, compared to 13.6 million dollars, or 0.21 dollar per diluted share, in the prior year period.

Adjusted EBITDA for the six months was 45.9 million dollars, and the company added that under ASC 605, adjusted EBITDA for the period would have been 47.8 million dollars compared to 47.7 million dollars in the prior year period.

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