RealD Swings to a Loss in Q2 FY 2013

Posted by Joe Zaller
Oct 29 2012

RealD said that its revenue for the second quarter of its 2013 fiscal year was $55m, down 38% versus the same period a year ago.

Licensing revenue in the quarter was $35m, down 33% versus last year. International markets generated 61% of license revenue, compared to 56% of license revenue in the second quarter of fiscal 2012.

Product and other revenue was $20m, down 44% versus last year. International markets generated 44% of product and other revenue, compared to 41% of product and other revenue in the second quarter of fiscal 2012.

The GAAP net for the quarter was $4.2m, or $0.08 per share, compared to GAAP net income of $18.9m, or $0.33 per diluted share, last year.

Although the company’s revenue in the quarter was higher than the consensus estimate of $47m, RealD missed on the bottom line expectation of a loss of $0.04 per share.

Adjusted EBITDA, a non-GAAP metric, was $13.8m for the quarter, down 69% versus the same period a year ago.

As of September 21, 2012, the company had deployed approximately 21,500 RealD-enabled screens, an increase of 15% compared to last year, and an increase of 800 screens, or 4%, compared to the previous quarter.

As of September 21, 2012, the company had approximately 12,300 domestic screens at approximately 2,700 domestic theater locations and approximately 9,200 international screens at approximately 2,600 international theater locations.

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Related Content:

Press Release: RealD Inc. Reports Financial Results for Second Quarter of Fiscal 2013

RealD Q2 2013 Earnings Call Transcript

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