ACCESS Newswire
21 Jan 2022, 03:01 GMT+10
LOS ANGELES, CA and NEWARK, NJ / ACCESSWIRE / January 20, 2022 / IDW Media Holdings, Inc., ('IDW') (NYSE American:IDW), an integrated media company, today reported results for the three and twelve-months ended October 31, 2021.
Fourth Quarter Fiscal 2021 (4Q21) Developments
Full Fiscal Year 2021 Developments
Comments from Ezra Rosensaft, Chief Executive Officer
'IDW made tremendous operational progress during fiscal 2021, strengthening our balance sheet, enhancing our management team, and uplisting to the NYSE American exchange. We enter fiscal 2022 positioned to drive growth through partnerships with talented creators. Together, we are developing best-in-class original content to leverage across our publishing and entertainment businesses.
'We are excited about the franchises we're bringing to market on the entertainment side of our business highlighted by the recent announcement of our deal with Apple+ for ten episodes of our original live-action series Surfside Girls, which we will develop and produce in conjunction with Endeavor Content. During calendar year 2022, we expect to realize revenue upon delivery of season 3 of Locke & Key to Netflix and season 1 of Surfside Girls to Apple TV. Also, in the first quarter of FY 2022, we will recognize $4.2 million in revenue from season 2 of Locke & Key providing a nice lift as we start the year.
'As we move into fiscal 2022, we see robust opportunities to efficiently and profitably bring unique content to our platforms. We are scaling up to develop approximately 40 original titles annually, which is more than double the levels of previous years, and we continue to aggressively pursue new creators and titles. We now have the people, processes, cost discipline, and enhanced balance sheet to best leverage those properties, and are excited and energized for the year ahead.'
Consolidated P&L Highlights*
Segment P&L Highlights*
Financial Take-Aways
(4Q21 compared to 4Q20. Full year fiscal 2021 results are compared to full year fiscal 2020.)
Earnings Conference Call
IDW's management will host an earnings conference call beginning at 5:00 PM Eastern time today to present results, outlook, and strategy followed by Q&A with investors. To listen to the call and participate in the Q&A, dial (877) 705-6003 (domestic) or (201) 493-6725 (international) and request the ‘IDW Media call.'
A replay of the conference call can be accessed approximately three hours after the call concludes through Thursday, January 27, 2022, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and providing the replay pin: 13726050. A recording of the conference call will also be available via streaming audio through the IDW investor relations website.
About IDW Media Holdings:
IDW (NYSE American: IDW) is an integrated media company providing compelling stories and characters for global audiences. Our IDW Publishing and IDW Entertainment businesses acquire IP for holistic franchise development across comics and graphic novels, television and other entertainment platforms and leverage established stories from our creative partners.
Forward-Looking Statements:
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words 'believe,' 'anticipate,' 'expect,' 'plan,' 'intend,' 'estimate, 'target' and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our Annual Report on Form 10-K (under the headings 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations'), which may be revised or supplemented in subsequent reports on SEC Forms 10-K, 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
Contact:
John Nesbett/Jennifer Belodeau
IMS Investor Relations
[email protected]
IDW MEDIA HOLDINGS, INC.
CONSOLIDATED BALANCE SHEETS
IDW MEDIA HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
IDW MEDIA HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
SOURCE: IDW Media Holdings, Inc.
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