Stockholm, 2011-08-26 08:09 CEST (GLOBE NEWSWIRE) --
• Revenue 6,427 KSEK (10,951)
• Operating income before depreciation -2,344 KSEK (1,461)
• Income after financial items -3,464 KSEK (3,634)
• Net income -4,633 KSEK (3,490)
• Earnings per share -0.10 SEK (0.08 SEK)
• Stan Lee Media lawsuit considered frivolous, will most likely be dismissed by court
• Conan iPhone/iPad game was released on August 18, 2011
• Conan movie premiered on August 19, 2011, with lower box office results than expected
• Two additional co-production projects, ”Freelancers” and ”Fire With Fire”, completed
• Company still forecasts an operating profit for 2011, although uncertainty has increased
Financial summary
Group revenue was 6,427 KSEK (10,951). Operating income before depreciation was -2,344 KSEK (1,461). Income after financial items was -3,464 KSEK (3,634) and net income was -4,633 KSEK (3,490). Shareholders’ equity was at period end 47,838 KSEK (63,480). The change in shareholders’ equity is -7,881 KSEK for the period, of which -3,398 KSEK is related to exchange rate differences. The solvency fell to 55.3% (82.0%). The decrease in solvency is also affected by the financing of a new project. Investments in intangible assets were 904 KSEK (1,838) during the six-month period.
The vast majority of the operation is based in the United States, thus the financials are affected by the Swedish crown/U.S. dollar exchange rate. The exchange rate on January 1, 2011, was 6.8030 SEK per USD (7.2125) and on June 30, 2011, 6.309 SEK per USD (7.775). The average exchange rate for the period was 6.3730 SEK per USD (7.4925).
See attached document for full financial statement.
About Paradox Entertainment
Paradox Entertainment manages and develops global entertainment franchises by generating licensing revenue in all forms of media including motion picture, television, gaming, publishing and toy industries. The Company also acts as licensing agent for property owners like Starz and BBC. The shares of parent company Paradox Entertainment AB (PDXE, SE0000598054) are quoted on NASDAQ OMX, in the First North Premier segment. Erik Penser Bankaktiebolag acts as Certified Adviser. Read more about Paradox Entertainment on http://www.paradoxent.com.
Fredrik Malmberg
President & CEO
Tel: +1 (323) 655-1700, Mob: +1 (310) 663-3214
E-mail: fmalmberg@paradoxent.com
Torsten Engevik
Deputy Chief Executive Officer
Tel: +46 8-555 177 94, Mob: +46 738-20 25 40
E-mail: torsten.engevik@paradox-entertainment.com
Joakim Zetterberg
Director of Publishing / Investor Relations
Tel: +1 (323) 655-1708, Mob: +1 (310) 623-2918
E-mail: jzetterberg@paradoxent.com