VANCOUVER, July 26, 2018 /CNW/ - Network Media Group
Inc. (TSX: NTE.V) (OTCMKTS:
NMGGF) and Network Entertainment Inc. ("Network"
or "the Company") announced today its results for the
three and six months ended May 31,
2018.
For the quarter ended May 31,
2018, the Company reported a net income of $205,000 ($0.00 per
share) for the three month period compared with a net income of
$387,276 ($0.01 per share) in 2017. In addition, the
Company reported a net loss of $118,488 for the six month period ended
May 31, 2018, compared to a net
income of $469,071.
Additional highlights of the quarter are:
- Revenues of:
-
- $776,619 (2017 - $2.2M) for the three months ended, and;
- $935,523 (2017 - $4.2M) for the six months ended.
- Net income/(loss) of:
-
- $205,000 (2017 – $387,276) for the three months ended, and;
- $(118,488) (2017 - $469,071) for the six months ended.
- EBITDA of:
-
- $486,716 (2017 - $490,917) for the three months ended, and;
- $429,603 (2017 - $674,311) for the six months ended.
- Income/(loss) per share of:
-
- $0.00 (2017 - $0.01) for the three months ended, and;
- $(0.00) (2017 - $0.01) for the six months ended.
- EBITDA per share of:
-
- $0.01 (2017 - $0.01) for the three months ended, and;
- $0.01 (2017 - $0.01) for the six months ended.
- Delivered I Am MLK Jr. to critical acclaim
- Continued production on four additional I Am
projects
- Commenced production on an eight episode documentary
series
- Received eight Leo Award nominations
The Company's unaudited condensed interim consolidated
financial statements for May 31, 2018
and 2017, are available on www.sedar.com under
the Company's profile.
CEO Derik Murray quotes, "Being
in production on a record number of projects is starting to show
results and is positioning us for a record setting fiscal 2018. I
am very happy with how the team has performed thus far and excited
about the direction the Company is taking."
A more detailed analysis of the other components of the
Company's performance can be found in its Management's Discussion
and Analysis as filed on www.sedar.com.
About Network Media Group Inc
Network Media Group is the parent company of Network
Entertainment Inc. Network Entertainment, founded and headquartered
in Vancouver, British Columbia,
Canada, produces premium content for global audiences. Network's
documentaries and docu-series showcase the lives of the world's
most inspiring cultural icons and their endearing legacy. Our films
have featured a compelling lineup of icons from the worlds of
Music, Movies, Comedy, Sports, Politics and Business. The Network
premium brand of programming features outstanding casts and highly
cinematic, richly crafted storytelling. Our productions are
consistently embraced by both popular and critical acclaim
garnering awards, record ratings and unparalleled media
coverage.
Network's broadcast and distribution partners include: AHC, AMC,
Discovery Channel, CBC, CMT, CTV, Entertainment One,
FremantleMedia, HBO Canada, History Channel, iTunes, Lionsgate,
National Geographic, Paramount Network, Spike, Sundance TV,
Thunderbird and TMN. Our work has been recognized by the Academy
Awards, the Emmys, Realscreen Awards, the Gemini Awards, the LEOs,
the Los Angeles Film Festival,
Washington D.C. Silver Docs,
Seattle International Film
Festival, Tribeca Film Festival, Hawaii International Film Festival,
Houston International Film
Festival, Vancouver International
Film Festival, Banff Television Festival, and the International
Film and Television Festival of New
York.
For additional information on Network Entertainment Inc.,
visit www.networkentertainment.ca
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Cautionary Statement on Forward-looking
Information
Except for historical information
contained herein, this news release contains forward-looking
statements that involve risks and uncertainties, including the
Company not obtaining required TSX Venture Exchange approval of the
Transaction and the Transaction not being completed as proposed or
at all. These statements are necessarily based upon management's
perceptions, beliefs, assumptions and expectations, as well as a
number of specific factors and assumptions that, while considered
reasonable by management of the Company as of the date of such
statements, are inherently subject to significant uncertainties and
contingencies that could result in the forward-looking information
ultimately, perhaps materially, being incorrect. All forward
looking information in this news release involve known and unknown
risks, uncertainties and other factors that are beyond the control
of the Company and may cause the actual results, performance or
achievements of the Company to be materially different from those
expressed or implied by such forward looking information. Except as
required pursuant to applicable securities laws, the Company will
not update these forward-looking statements to reflect events or
circumstances after the date hereof.
SOURCE Network Media Group Inc.