Wilhelmina International, Inc. (Nasdaq:WHLM) ("Wilhelmina" or the
"Company") today reported revenues of $4.5 million and net income
of $0.4 million for the three months ended September 30, 2023,
compared to revenues of $4.4 million and net income of $1.9 million
for the three months ended September 30, 2022. For the nine months
ended September 30, 2023, Wilhelmina reported revenues of $13.4
million and net income of $0.5 million compared to revenue of $13.7
million and net income of $3.5 million for the nine months ended
September 30, 2022. Net income for the three and nine
months ended September 30, 2022 were significantly impacted by the
full release of a previous $1.5 million valuation allowance against
deferred tax assets.
Financial Results
Net income for the three months ended September
30, 2023 was $0.4 million or $0.07 per fully diluted share,
compared to net income of $1.9 million, or $0.37 per fully diluted
share, for the three months ended September 30, 2022. Net income
for the nine months ended September 30, 2023 was $0.5 million, or
$0.10 per fully diluted share, compared to $3.5 million, or $0.69
per fully diluted share, for the nine months ended September 30,
2022.
Pre-Corporate EBITDA was $0.8 million and $1.8
million for the three and nine months ended September 30, 2023,
compared to Pre-Corporate EBITDA of $1.0 million and $3.6 million
for the three and nine months ended September 30,
2022.
The following table reconciles reported total
revenues under generally accepted accounting principles to Gross
Billings, for the three and nine months ended September 30, 2023
and 2022.
|
(in thousands) |
Three months endedSeptember
30, |
Nine months endedSeptember 30, |
|
|
2023 |
2022 |
2023 |
2022 |
|
TotalRevenues |
$ |
4,472 |
$ |
4,442 |
$ |
13,449 |
$ |
13,689 |
|
Model costs |
11,686 |
11,822 |
37,837 |
36,824 |
|
Gross billings* |
16,158 |
16,264 |
51,286 |
50,513 |
| *Non-GAAP measures
referenced are detailed in the disclosures at the end of this
release. |
| |
Model costs include amounts owed to talent,
including taxes required to be withheld and remitted directly to
taxing authorities, commissions owed to other agencies, and related
costs such as those paid for photography.
The following table reconciles reported net
income under generally accepted accounting principles to EBITDA,
Adjusted EBITDA and Pre-Corporate EBITDA for the three and nine
months ended September 30, 2023 and 2022.
|
(in thousands) |
Three months ended September
30, |
Nine months endedSeptember 30, |
|
|
2023 |
|
2022 |
|
2023 |
2022 |
|
|
Net(loss)income |
$ |
359 |
|
$ |
1,887 |
|
$ |
504 |
$ |
3,547 |
|
|
Interest |
- |
|
2 |
|
1 |
7 |
|
|
Income tax expense (benefit) |
126 |
|
(1,111 |
) |
279 |
(758 |
) |
|
Amortization and depreciation |
55 |
|
42 |
|
162 |
148 |
|
|
EBITDA* |
540 |
|
820 |
|
946 |
2,944 |
|
|
Foreign exchange (gain) loss |
(18 |
) |
(107 |
) |
61 |
(211 |
) |
|
Share-based payment expense |
25 |
|
55 |
|
74 |
165 |
|
|
AdjustedEBITDA* |
547 |
|
768 |
|
1,081 |
2,898 |
|
|
Corporateoverhead |
248 |
|
247 |
|
738 |
723 |
|
|
Pre-Corporate EBITDA* |
795 |
|
1,015 |
|
1,819 |
3,621 |
|
| *Non-GAAP
measures referenced are detailed in the disclosures at the end of
this release. |
|
|
Changes in net income, EBITDA, Adjusted EBITDA
and Pre-Corporate EBITDA for the three and nine months ended
September 30, 2023, when compared to the three and nine months
ended September 30, 2022, were primarily the result of the
following:
- Total revenues for the three months
ended September 30, 2023 increased 0.7% primarily due to increased
commissions from model bookings. Total revenues for the nine months
ended September 30, 2023 decreased by 1.8% primarily due to due to
decreased commissions on bookings during the first half of the
year;
- Salaries and service costs for the
three and nine months ended September 30, 2023 increased by 3.3%
and 7.4% primarily due to personnel hires and payroll changes to
better align Wilhelmina staffing with the needs of each office and
geographical region;
- Office and general expenses for the
three and nine months ended September 30, 2023 increased by 17.8%
and 40.9% primarily due to increased legal expense, rent expense,
utilities, computer expenses, and other office related
expenses;
- Amortization and depreciation
expense for the three and nine months ended September 30, 2023
increased by 31.0% and 9.5%, primarily due to increased
depreciation of capitalized furniture and leasehold assets at the
Company’s New York City office; and
- Corporate overhead expenses for the
three and nine months ended September 30, 2023 increased by 0.4%
and 2.1%, primarily due to increased corporate travel expenses and
the timing of audit costs incurred earlier than the prior
year.
WILHELMINA INTERNATIONAL, INC. AND
SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE
SHEETS(In thousands, except share
data)
| |
(Unaudited)September
30,2023 |
|
December
31,2022 |
| ASSETS |
|
|
|
| Current assets: |
|
|
|
|
Cash and cash equivalents |
$ |
10,873 |
|
|
$ |
11,998 |
|
|
Short term investments |
|
295 |
|
|
|
- |
|
|
Accounts receivable, net of allowance for doubtful accounts of
$2,038 and $1,664, respectively |
|
9,897 |
|
|
|
9,467 |
|
|
Prepaid expenses and other current assets |
|
289 |
|
|
|
181 |
|
|
Total current assets |
|
21,354 |
|
|
|
21,646 |
|
| |
|
|
|
|
|
| Property and equipment, net of
accumulated depreciation of $498 and $1,216, respectively |
|
332 |
|
|
|
307 |
|
| Right of use
assets-operating |
|
3,625 |
|
|
|
3,565 |
|
| Right of use
assets-finance |
|
93 |
|
|
|
138 |
|
| Trademarks and trade names
with indefinite lives |
|
8,467 |
|
|
|
8,467 |
|
| Goodwill |
|
7,547 |
|
|
|
7,547 |
|
| Other assets |
|
300 |
|
|
|
322 |
|
| |
|
|
|
|
|
| TOTAL
ASSETS |
$ |
41,718 |
|
|
$ |
41,992 |
|
| |
|
|
|
|
|
| LIABILITIES AND
SHAREHOLDERS’ EQUITY |
|
|
|
|
|
| Current liabilities: |
|
|
|
|
|
|
Accounts payable and accrued liabilities |
$ |
3,949 |
|
|
$ |
4,306 |
|
|
Due to models |
|
7,589 |
|
|
|
8,378 |
|
|
Contract liabilities |
|
- |
|
|
|
270 |
|
|
Lease liabilities – operating, current |
|
695 |
|
|
|
385 |
|
|
Lease liabilities – finance, current |
|
65 |
|
|
|
62 |
|
|
Total current liabilities |
|
12,298 |
|
|
|
13,401 |
|
| |
|
|
|
|
|
| Long term liabilities: |
|
|
|
|
|
|
Deferred income tax, net |
|
1,278 |
|
|
|
985 |
|
|
Lease liabilities – operating, non-current |
|
3,271 |
|
|
|
3,310 |
|
|
Lease liabilities – finance, non-current |
|
36 |
|
|
|
85 |
|
|
Total long term liabilities |
|
4,585 |
|
|
|
4,380 |
|
| |
|
|
|
|
|
| Total
liabilities |
|
16,883 |
|
|
|
17,781 |
|
| |
|
|
|
|
|
| Shareholders’ equity: |
|
|
|
|
|
| |
|
|
|
|
|
|
Common stock, $0.01 par value, 9,000,000 shares authorized;
6,472,038 shares issued at September 30, 2023 and December 31,
2022 |
|
65 |
|
|
|
65 |
|
|
Treasury stock, 1,314,694 shares at September 30, 2023 and December
31, 2022, at cost |
|
(6,371 |
) |
|
|
(6,371 |
) |
|
Additional paid-in capital |
|
88,844 |
|
|
|
88,770 |
|
|
Accumulated deficit |
|
(57,205 |
) |
|
|
(57,709 |
) |
|
Accumulated other comprehensive loss |
|
(498 |
) |
|
|
(544 |
) |
| Total shareholders’
equity |
|
24,835 |
|
|
|
24,211 |
|
| |
|
|
|
|
|
| TOTAL LIABILITIES AND
SHAREHOLDERS’ EQUITY |
$ |
41,718 |
|
|
$ |
41,992 |
|
| |
WILHELMINA INTERNATIONAL, INC. AND
SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS AND COMPREHENSIVE INCOMEFor the Three
and Nine Months Ended September 30, 2023 and
2022(In thousands, except for share and per share
data)(Unaudited)
| |
Three Months Ended |
|
Nine Months Ended |
| |
September 30, |
|
September 30, |
| |
2023 |
|
2022 |
|
2023 |
|
2022 |
| Revenues: |
|
|
|
|
|
|
|
|
Service revenues |
$ |
4,465 |
|
|
$ |
4,434 |
|
|
$ |
13,427 |
|
|
$ |
13,666 |
|
|
License fees |
|
7 |
|
|
|
8 |
|
|
|
22 |
|
|
|
23 |
|
|
Total revenues |
|
4,472 |
|
|
|
4,442 |
|
|
|
13,449 |
|
|
|
13,689 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and service costs |
|
2,843 |
|
|
|
2,753 |
|
|
|
8,702 |
|
|
|
8,102 |
|
|
Office and general expenses |
|
859 |
|
|
|
729 |
|
|
|
3,002 |
|
|
|
2,131 |
|
|
Amortization and depreciation |
|
55 |
|
|
|
42 |
|
|
|
162 |
|
|
|
148 |
|
|
Corporate overhead |
|
248 |
|
|
|
247 |
|
|
|
738 |
|
|
|
723 |
|
|
Total operating expenses |
|
4,005 |
|
|
|
3,771 |
|
|
|
12,604 |
|
|
|
11,104 |
|
| Operating income |
|
467 |
|
|
|
671 |
|
|
|
845 |
|
|
|
2,585 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Other (income) expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange (gain) loss |
|
(18 |
) |
|
|
(107 |
) |
|
|
61 |
|
|
|
(211 |
) |
|
Interest expense |
|
- |
|
|
|
2 |
|
|
|
1 |
|
|
|
7 |
|
|
Total other (income) expense |
|
(18 |
) |
|
|
(105 |
) |
|
|
62 |
|
|
|
(204 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
| Income before provision for
income taxes |
|
485 |
|
|
|
776 |
|
|
|
783 |
|
|
|
2,789 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Benefit (provision) for income
taxes: |
|
|
|
|
|
|
|
|
|
|
|
|
Current |
|
14 |
|
|
|
(221 |
) |
|
|
14 |
|
|
|
(305 |
) |
|
Deferred |
|
(140 |
) |
|
|
1,332 |
|
|
|
(293 |
) |
|
|
1,063 |
|
|
Benefit (provision) for income taxes, net |
|
(126 |
) |
|
|
1,111 |
|
|
|
(279 |
) |
|
|
758 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Net income |
$ |
359 |
|
|
$ |
1,887 |
|
|
$ |
504 |
|
|
$ |
3,547 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Other comprehensive (loss)
income: |
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustment |
|
(152 |
) |
|
|
(352 |
) |
|
|
46 |
|
|
|
(864 |
) |
| Total comprehensive
income |
$ |
207 |
|
|
$ |
1,535 |
|
|
$ |
550 |
|
|
$ |
2,683 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Basic net income per common
share |
$ |
0.07 |
|
|
$ |
0.37 |
|
|
$ |
0.10 |
|
|
$ |
0.69 |
|
| Diluted net income per common
share |
$ |
0.07 |
|
|
$ |
0.37 |
|
|
$ |
0.10 |
|
|
$ |
0.69 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Weighted average common shares
outstanding-basic |
|
5,157 |
|
|
|
5,157 |
|
|
|
5,157 |
|
|
|
5,157 |
|
| Weighted average common shares
outstanding-diluted |
|
5,157 |
|
|
|
5,157 |
|
|
|
5,157 |
|
|
|
5,157 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WILHELMINA INTERNATIONAL, INC. AND
SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF
SHAREHOLDERS’ EQUITY For the Three and Nine Months
Ended September 30, 2023 and
2022 (In thousands)
| |
CommonShares |
StockAmount |
TreasuryShares |
StockAmount |
AdditionalPaid-inCapital |
AccumulatedDeficit |
AccumulatedOtherComprehensiveIncome
(Loss) |
Total |
|
Balances at December 31, 2021 |
6,472 |
$ |
65 |
(1,315 |
) |
$ |
(6,371 |
) |
$ |
88,580 |
$ |
(61,238 |
) |
$ |
(23 |
) |
$ |
21,013 |
|
|
Share based payment expense |
- |
|
- |
- |
|
|
- |
|
|
55 |
|
- |
|
|
- |
|
|
55 |
|
|
Net income |
- |
|
|
- |
|
|
- |
|
|
- |
|
739 |
|
|
- |
|
|
739 |
|
|
Foreign currency translation |
- |
|
- |
- |
|
|
- |
|
|
- |
|
- |
|
|
(174 |
) |
|
(174 |
) |
| Balances at March 31,
2022 |
6,472 |
$ |
65 |
(1,315 |
) |
$ |
(6,371 |
) |
$ |
88,635 |
$ |
(60,499 |
) |
$ |
(197 |
) |
$ |
21,633 |
|
|
Share based payment expense |
- |
|
- |
- |
|
|
- |
|
|
55 |
|
- |
|
|
- |
|
|
55 |
|
|
Net income |
- |
|
- |
- |
|
|
- |
|
|
- |
|
921 |
|
|
- |
|
|
921 |
|
|
Foreign currency translation |
- |
|
- |
- |
|
|
- |
|
|
- |
|
- |
|
|
(338 |
) |
|
(338 |
) |
| Balances at June 30, 2022 |
6,472 |
$ |
65 |
(1,315 |
) |
$ |
(6,371 |
) |
$ |
88,690 |
$ |
(59,578 |
) |
$ |
(535 |
) |
$ |
22,271 |
|
|
Share based payment expense |
- |
|
- |
- |
|
|
- |
|
|
55 |
|
- |
|
|
- |
|
|
55 |
|
|
Net income |
- |
|
- |
- |
|
|
- |
|
|
- |
|
1,887 |
|
|
- |
|
|
1,887 |
|
|
Foreign currency translation |
- |
|
- |
- |
|
|
- |
|
|
- |
|
- |
|
|
(352 |
) |
|
(352 |
) |
| Balances at September 30,
2022 |
6,472 |
$ |
65 |
(1,315 |
) |
$ |
(6,371 |
) |
$ |
88,745 |
$ |
(57,691 |
) |
$ |
(887 |
) |
$ |
23,861 |
|
| |
| |
CommonShares |
StockAmount |
TreasuryShares |
StockAmount |
AdditionalPaid-inCapital |
AccumulatedDeficit |
AccumulatedOtherComprehensiveIncome (Loss) |
Total |
|
Balances at December 31, 2022 |
6,472 |
$ |
65 |
(1,315 |
) |
$ |
(6,371 |
) |
$ |
88,770 |
$ |
(57,709 |
) |
$ |
(544 |
) |
$ |
24,211 |
|
|
Share based payment expense |
- |
|
- |
- |
|
|
- |
|
|
24 |
|
- |
|
|
- |
|
|
24 |
|
|
Net income |
- |
|
- |
- |
|
|
- |
|
|
- |
|
159 |
|
|
- |
|
|
159 |
|
|
Foreign currency translation |
- |
|
- |
- |
|
|
- |
|
|
- |
|
- |
|
|
86 |
|
|
86 |
|
| Balances at March 31,
2023 |
6,472 |
$ |
65 |
(1,315 |
) |
$ |
(6,371 |
) |
$ |
88,794 |
$ |
(57,550 |
) |
$ |
(458 |
) |
$ |
24,480 |
|
|
Share based payment expense |
- |
|
- |
- |
|
|
- |
|
|
25 |
|
- |
|
|
- |
|
|
25 |
|
|
Net loss |
- |
|
- |
- |
|
|
- |
|
|
- |
|
(14 |
) |
|
- |
|
|
(14 |
) |
|
Foreign currency translation |
- |
|
- |
- |
|
|
- |
|
|
- |
|
- |
|
|
112 |
|
|
112 |
|
| Balances at June 30, 2023 |
6,472 |
$ |
65 |
(1,315 |
) |
$ |
(6,371 |
) |
$ |
88,819 |
$ |
(57,564 |
) |
$ |
(346 |
) |
$ |
24,603 |
|
|
Share based payment expense |
- |
|
- |
- |
|
|
- |
|
|
25 |
|
- |
|
|
- |
|
|
25 |
|
|
Net income |
- |
|
- |
- |
|
|
- |
|
|
- |
|
359 |
|
|
- |
|
|
359 |
|
|
Foreign currency translation |
- |
|
- |
- |
|
|
- |
|
|
- |
|
- |
|
|
(152 |
) |
|
(152 |
) |
| Balances at September 30,
2023 |
6,472 |
$ |
65 |
(1,315 |
) |
$ |
(6,371 |
) |
$ |
88,844 |
$ |
(57,205 |
) |
$ |
(498 |
) |
$ |
24,835 |
|
| |
WILHELMINA INTERNATIONAL, INC. AND
SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF
CASH FLOWFor the Nine Months Ended
September 30, 2023 and
2022(In
thousands)(Unaudited)
| |
Nine Months EndedSeptember
30, |
| |
2023 |
|
2022 |
| Cash flows from operating
activities: |
|
|
|
|
Net income: |
$ |
504 |
|
|
$ |
3,547 |
|
| Adjustments to reconcile net
income to net cash used in operating activities: |
|
|
|
|
|
|
Amortization and depreciation |
|
162 |
|
|
|
148 |
|
|
Share based payment expense |
|
74 |
|
|
|
165 |
|
|
Loss (gain) on foreign exchange rates |
|
61 |
|
|
|
(211 |
) |
|
Deferred income taxes |
|
293 |
|
|
|
(1,063 |
) |
|
Bad debt expense |
|
126 |
|
|
|
115 |
|
| Changes in operating assets
and liabilities: |
|
|
|
|
|
|
Accounts receivable |
|
(617 |
) |
|
|
(2,123 |
) |
|
Prepaid expenses and other current assets |
|
(108 |
) |
|
|
(140 |
) |
|
Right of use assets-operating |
|
519 |
|
|
|
359 |
|
|
Other assets |
|
22 |
|
|
|
(228 |
) |
|
Due to models |
|
(789 |
) |
|
|
1,086 |
|
|
Lease liabilities-operating |
|
(308 |
) |
|
|
(337 |
) |
|
Contract liabilities |
|
(270 |
) |
|
|
(535 |
) |
|
Accounts payable and accrued liabilities |
|
(357 |
) |
|
|
455 |
|
| Net cash (used in) provided by
operating activities |
|
(688 |
) |
|
|
1,238 |
|
| |
|
|
|
|
|
| Cash flows from investing
activities: |
|
|
|
|
|
|
Purchases of property and equipment |
|
(141 |
) |
|
|
(96 |
) |
|
Purchase of short term investments |
|
(295 |
) |
|
|
- |
|
| Net cash used in investing
activities |
|
(436 |
) |
|
|
(96 |
) |
| |
|
|
|
|
|
| Cash flows from financing
activities: |
|
|
|
|
|
|
Payments on finance leases |
|
(47 |
) |
|
|
(45 |
) |
| Net cash used in financing
activities |
|
(47 |
) |
|
|
(45 |
) |
| |
|
|
|
|
|
| Foreign currency effect on
cash flows: |
|
46 |
|
|
|
(819 |
) |
| |
|
|
|
|
|
| Net change in cash and cash
equivalents: |
|
(1,125 |
) |
|
|
278 |
|
|
Cash and cash equivalents, beginning of period |
|
11,998 |
|
|
|
10,251 |
|
|
Cash and cash equivalents, end of period |
$ |
10,873 |
|
|
$ |
10,529 |
|
| |
|
|
|
|
|
| Supplemental disclosures of
cash flow information: |
|
|
|
|
|
|
Cash paid for income taxes |
$ |
65 |
|
|
$ |
16 |
|
| |
|
|
|
|
|
Non-GAAP Financial Measures
Gross Billings, EBITDA, Adjusted EBITDA and
Pre-Corporate EBITDA represent measures of financial performance
that are not calculated and presented in accordance with U.S.
generally accepted accounting principles (“non-GAAP financial
measures”). The Company considers Gross Billings, EBITDA, Adjusted
EBITDA and Pre-Corporate EBITDA to be important measures of
performance because they:
- are key operating metrics of the
Company's business;
- are used by management in its
planning and budgeting processes and to monitor and evaluate its
financial and operating results; and
- provide stockholders and potential
investors with a means to evaluate the Company's financial and
operating results against other companies within the Company's
industry.
The Company's calculation of non-GAAP financial
measures may not be consistent with similar calculations by other
companies in the Company's industry. The Company calculates Gross
Billings as the gross amounts billed to customers on behalf of its
models and talent for services performed. The Company calculates
EBITDA as net income plus interest expense, income tax expense, and
depreciation and amortization expense. The Company calculates
“Adjusted EBITDA” as EBITDA plus foreign exchange gain/loss,
share-based payment expense and certain significant non-recurring
items that the Company may include from time to time. There were no
such non-recurring items during the nine months ended September 30,
2023 and 2022. The Company calculates “Pre-Corporate EBITDA” as
Adjusted EBITDA plus corporate overhead expense, which includes
director compensation, securities laws compliance costs, audit and
professional fees, and other public company costs.
Non-GAAP financial measures should not be
considered as alternatives to net and operating income as an
indicator of the Company's operating performance or cash flows from
operating activities as a measure of liquidity or any other measure
of performance derived in accordance with generally accepted
accounting principles.
Form 10-Q Filing
Additional information concerning the Company's
results of operations and financial position is included in the
Company's Form 10-Q for the third quarter ended September 30, 2023
filed with the Securities and Exchange Commission on November 9,
2023.
Forward-Looking Statements
This press release contains certain
“forward-looking” statements as such term is defined in the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements relating to the Company are based on the beliefs of the
Company’s management as well as information currently available to
the Company’s management. When used in this report, the words
“anticipate,” “believe,” “estimate,” “expect” and “intend” and
words or phrases of similar import, as they relate to the Company
or Company management, are intended to identify forward-looking
statements. Such forward-looking statements include, in
particular, projections about the Company’s future results,
statements about its plans, strategies, business prospects, changes
and trends in its business and the markets in which it operates.
Additionally, statements concerning future matters such as gross
billing levels, revenue levels, expense levels, and other
statements regarding matters that are not historical are
forward-looking statements. Management cautions that these
forward-looking statements relate to future events or the Company’s
future financial performance and are subject to business, economic,
and other risks and uncertainties, both known and unknown, that may
cause actual results, levels of activity, performance, or
achievements of its business or its industry to be materially
different from those expressed or implied by any forward-looking
statements. Should any one or more of these risks or uncertainties
materialize, or should any underlying assumptions prove incorrect,
actual results may vary materially from those described herein as
anticipated, believed, estimated, expected or intended. The
Company does not undertake any obligation to publicly update these
forward-looking statements. As a result, no person should
place undue reliance on these forward-looking statements.
About Wilhelmina International,
Inc. (www.wilhelmina.com):
Wilhelmina, together with its subsidiaries, is
an international full-service fashion model and talent management
service, specializing in the representation and management of
leading models, celebrities, artists, photographers, athletes, and
content creators. Established in 1967 by fashion model Wilhelmina
Cooper, Wilhelmina is one of the oldest and largest fashion model
management companies in the world. Wilhelmina is publicly traded on
Nasdaq under the symbol WHLM. Wilhelmina is headquartered in
New York and, since its founding, has grown to include operations
in Los Angeles, Miami, and London. Wilhelmina also owns Aperture, a
talent agency located in New York and Los Angeles. For more
information, please visit www.wilhelmina.com and follow
@WilhelminaModels.
|
CONTACT: |
Investor Relations |
|
|
Wilhelmina International, Inc. |
|
|
214-661-7488 |
|
|
ir@wilhelmina.com |
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