Wizard World, Inc. Posts Positive Quarterly Results
May 15 2018 - 3:37PM
InvestorsHub NewsWire
Wizard World, Inc. Posts Positive
Quarterly Results
Company’s Strategy Of Creating Greater Entertainment Value
And Reducing Costs Pays Off In First Quarter
Los Angeles, CA -- May 15, 2018 --
InvestorsHub NewsWire -- Wizard World, Inc.,
the nation’s largest producer of pop-culture events, has announced
positive first quarter 2018 earnings, with income significantly
higher and operating expenses reduced considerably. Wizard World
conducted three highly successful shows during the January 1 –
March 31 period (New Orleans, St. Louis, Cleveland) as part of its
ambitious 16-event 2018 schedule.
In the filing of its first quarter financial results, the Company
disclosed that it recorded income from operations of $283,276 for
Q1 2018 versus an operating loss of $1,282,078 for Q1 2017—this is
a positive variance of $1,565,303 for the same period,
year-over-year. The gross profit margin for Q1 2018 was 27%,
versus 11% for Q1 2017.
The quarterly filing also disclosed that for the First Quarter of
2018 operating expenses decreased 49% year-over-year with expenses
of $821,556, versus operating expenses of $1,663,824 for Q1
2017. Gross Revenue increased by $469k for the same period last
year.
The quarterly results are a positive indicator that the Company’s
strategy of creating greater entertainment value at it’s
pop-culture conventions, effectively marketing, and producing its
shows cost-effectively have demonstrated a positive financial
impact.
Wizard’s CEO John D. Maatta stated: “It is a very
exciting time at Wizard World. We have materially improved
our financial results as we introduce operational efficiencies and
aggressively move forward with new growth initiatives at the
Company.”
Wizard World Comic Con Philadelphia, one of the Company’s largest
and longest-running events, is set for Thursday through Sunday at
the Pennsylvania Convention Center.
About Wizard World
(OTCBB: WIZD)
Wizard World, Inc.
(www.wizardworld.com)
produces comic, gaming and pop culture conventions across North
America that celebrate the best in pop culture: movies, television,
gaming, live entertainment, tech, comics, sci-fi, graphic novels,
toys, original art, collectibles, contests and more. A first-class
lineup of topical programming and entertainment takes place at each
event, with celebrity Q&A's, comics-themed sessions, costume
contests, movie screenings, evening parties and more. Wizard World
has also teamed with Sony Pictures Entertainment to find the next
generation of movies as well as to engage in a number of strategic
initiatives. Additional initiatives may include an augmented
touring schedule of Wizard World shows, fixed-site installations,
curated e-commerce, and the production and distribution of content
both in the U.S. and internationally. Fans can interact with Wizard
World at www.wizardworld.com and on Facebook, Twitter, Pinterest,
Instagram and other social media services.
The 2018 Wizard World
convention schedule is available at: http://www.wizardworld.com/comiccon.
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Media
Contact:
Jerry Milani, Wizard World, 646-883-5022
(o/txt), pr@wizardworld.com