Last $5.41 USD
Change Today -0.09 / -1.64%
Volume 554.0K
VVTV On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

valuevision media inc-a (VVTV) Key Developments

ValueVision Media Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended August 2, 2014

ValueVision Media Inc. reported unaudited consolidated earnings results for the second quarter and six months ended August 2, 2014. For the quarter, net sales were $156.6 million against $148.6 million last year. Operating loss was $3.7 million against $0.2 million last year. Loss before income taxes was $4.1 million against $0.5 million last year. Net loss was $4.3 million or $0.08 per diluted share against $0.8 million or $0.02 per diluted share last year. Adjusted EBITDA was $5.5 million against $3.8 million last year. Adjusted net income was $0.8 million or $0.01 per share against adjusted net loss of $0.8 million or $0.02 per share last year. Net sales were up 5% compared to last year's same quarter, with strong performance in the Fashion & Accessories and Beauty, Health & Fitness categories. Adjusted EBITDA was driven by the company's sales and gross profit improvements. The company reported capital expenditure of $3 million. For the six months, net sales were $316.3 million against $299.9 million last year. Operating loss was $2.7 million against operating income of $1.5 million last year. Loss before income taxes was $3.4 million against income before income taxes of $0.8 million last year. Net loss was $3.8 million or $0.08 per diluted share against net income of $0.2 million or $0.00 per diluted share last year. Adjusted EBITDA was $11.0 million against $9.6 million last year. Adjusted net income was $2.3 million or $0.04 per share against $0.2 million or $0.00 per share last year.

ValueVision Media Inc. Announces Executive Changes

ValueVision Media Inc. announced departure of Carol Steinberg as Chief Operating Officer and Annette Repasch as Chief Merchandising Officer Effective as of August 18, 2014, two of named executive officers, Carol Steinberg, Chief Operating Officer and Annette Repasch, Chief Merchandising Officer, are no longer with ValueVision Media Inc. Both executives are eligible to be paid a severance in accordance with the Executives' Severance Benefit Plan's change of control provisions.

ValueVision Media Inc. to Report Q2, 2015 Results on Aug 20, 2014

ValueVision Media Inc. announced that they will report Q2, 2015 results at 9:00 AM, Eastern Standard Time on Aug 20, 2014

ValueVision Media Inc., Q2 2015 Earnings Call, Aug 20, 2014

ValueVision Media Inc., Q2 2015 Earnings Call, Aug 20, 2014

ValueVision Media Inc. Announces Management Changes

ValueVision Media Inc. announced it has reconstituted its Board of Directors and has unanimously appointed Mark Bozek Chief Executive Officer and Bob Rosenblatt Non-Executive Chairman of the Board, effective immediately. Mr. Bozek succeeds Keith Stewart, who has resigned as Chief Executive Officer and as a director of the Company. Mr. Bozek has more than 20 years of senior executive experience in the multi-channel commerce, electronic retailing and entertainment industries, including having served as CEO of HSN Inc., Senior Vice President of QVC Inc., and as a producer at Fox Television. The company also announced that IVS Associates Inc., the independent inspector of elections, has certified the voting results at the Company's Annual Meeting, held on June 18, 2014. Four ValueVision nominees and four nominees of the Clinton Group Inc. were elected to the ValueVision Board of Directors. The Board has appointed former President of Saks Fifth Avenue, also a fifth Clinton Group nominee, Ronald Frasch, as a director following Mr. Stewart's resignation. Accordingly, the Board will consist of: Thomas Beers, Mark Bozek, John Buck, Ronald Frasch, Landel Hobbs, Lowell Robinson, Bob Rosenblatt and Fred Siegel. The newly reconstituted Board will focus on further strengthening the Company's financial and operating performance and delivering meaningful returns for all ValueVision shareholders. Mark Bozek - Mr. Bozek is the former CEO of Home Shopping Network (HSN). John Buck - Mr. Buck currently serves as non-executive chairman of the board of Medica and previously served as chief executive officer of Medica from 2001 until his retirement in 2003. Ronald Frasch - Mr. Frasch is currently an operating partner at Castanea Partners, and the principal of Ron Frasch Associates, LLC. Landel Hobbs - Mr. Hobbs is Chief Executive Officer of LCH Enterprises LLC. Mr. Hobbs had been Chief Operating Officer of Time Warner Cable from 2005 until 2010 and was previously Chief Financial Officer from 2001 until 2005. Lowell W. Robinson served as the Chief Financial Officer and Chief Operating Officer of MIVA Inc. from August 2007 through March 2009. He joined MIVA in 2006 as Chief Financial Officer and Chief Administrative Officer. He had previously served as the President of LWR Advisors from 2002 to 2006 and as the Chief Financial Officer and Chief Administrative Officer at HotJobs.com from 2000 to 2002. Bob Rosenblatt - Bob has more than 25 years of experience leading mid and large sized retail organizations, including Tommy Hilfiger, HSN (formerly the Home Shopping Network), and Bloomingdale's. Last year he was Interim President of Ideeli.com. For the past seven years, Bob has been CEO of Rosenblatt Consulting, LLC. Fred Siegel - Mr. Siegel was Senior Vice President and marketing head for QVC from 1993 to 1998, overseeing all off-air consumer touch-points including all marketing and communications, leading special on-air events, and attracting and securing marquee brand-name vendors, helping QVC become the category-defining brand. After QVC, Mr. Siegel was marketing lead for Excite and Excite @ Home where he oversaw all marketing and communications activities. He is responsible for many Internet firsts including strategic partnerships with television networks, the first large-scale voting event on the web (with the Prime Time Emmys) and the first Online Town Hall meeting with President Clinton. He currently advises various companies from Google Ventures-backed Sidecar to the twenty-something organization.

 

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Valuation VVTV Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 0.4x
Price/Book 3.9x
Price/Cash Flow 77.1x
TEV/Sales 0.4x
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