Last $3.36 USD
Change Today +0.43 / 14.68%
Volume 32.7K
RLJE On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 09/19/14 All times are local (Market data is delayed by at least 15 minutes).

rlj entertainment inc (RLJE) Snapshot

Open
$3.01
Previous Close
$2.93
Day High
$3.40
Day Low
$3.01
52 Week High
09/23/13 - $5.60
52 Week Low
09/8/14 - $2.16
Market Cap
44.6M
Average Volume 10 Days
31.5K
EPS TTM
$-1.65
Shares Outstanding
13.3M
EX-Date
--
P/E TM
--
Dividend
--
Dividend Yield
--
Current Stock Chart for RLJ ENTERTAINMENT INC (RLJE)

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rlj entertainment inc (RLJE) Details

RLJ Entertainment, Inc., an entertainment company, acquires content rights in British episodic mystery and drama, urban programming, and full-length motion pictures. It operates through three segments: Intellectual Property Licensing, Wholesale, and Direct-to-Consumer. The company secures rights to third-party programs; and develops, produces, and owns original drama television programming, as well as offers fitness programs through its Acacia brand. It has a program library of approximately 5,300 titles in genres, such as scripted television drama and mysteries, independent action thriller and horror feature films, urban/African-American, lifestyle/fitness, faith, and long-form documentaries under the Acorn, Image, One Village, Acacia, Athena, and Madacy brands. The company owns, produces, and exploits intellectual property rights in various formats, including DVD, Blu-ray, digital, cable and satellite broadcast, VOD, streaming video, downloading, and sublicensing. It distributes content through brick and mortar, digital, mobile, broadcast, and cable partners, as well as through proprietary e-commerce Websites, mail-order catalogs, and digitally streaming channels. The company also sells retail merchandise through its proprietary catalogs Acorn and Acacia. RLJ Entertainment, Inc. is based in Silver Spring, Maryland.

139 Employees
Last Reported Date: 03/19/14

rlj entertainment inc (RLJE) Top Compensated Officers

Chief Executive Officer and Director
Total Annual Compensation: $472.8K
Chief Financial Officer and Principal Account...
Total Annual Compensation: $215.5K
Compensation as of Fiscal Year 2013.

rlj entertainment inc (RLJE) Key Developments

RLJ Entertainment, Inc. Refinances Debt

RLJ Entertainment, Inc. announced that it has entered into a new $70 million, five year credit facility with a syndicate of lenders led by McLarty Capital Partners, as lead administrative agent. RLJ Entertainment used the proceeds from its new credit facility to pay off the outstanding borrowings under its previous credit facility totaling $56.1 million and the balance less closing fees for incremental working capital. The company's new credit facility reduces future debt service by approximately $11.2 million compared to the remaining three year term of the previous facility with the majority of the benefit in the next year and a half. The company anticipates utilizing the projected increased cash flow to increase its investment in content and expand its proprietary digital subscription video-on-demand (SVOD) channels. On September 11, 2014, RLJ Entertainment, Inc. and the majority of its subsidiaries entered into a syndicated Credit and Guaranty Agreement with certain lenders, McLarty Capital Partners SBIC, L.P. (McLarty), as Administrative Agent. The syndicate loan includes five lenders. The Credit Facility includes a term loan totaling $70 million with a final maturity of five years, at an interest rate equal to (a) LIBOR plus 10.64% for so long as the unpaid principal amount of the Credit Facility is greater than $65 million and (b) LIBOR plus 9.9% thereafter. The quarterly principal amortization is 3.5% year 1-2, 5% year three and 7.5% for remaining term with any unpaid balance due at maturity. The obligations under the Credit Facility are secured by a lien on substantially all of the assets of the Credit Parties, pursuant to the Pledge and Security Agreement, dated as of September 11, 2014, by and among the company, the participating subsidiaries and McLarty, as Collateral Agent. The initial debt service begins on December 31, 2014. The Credit Facility contains representations, financial and other affirmative and negative covenants, events of default and remedies typical for this type of facility. The facility is subject to compliance with a number of financial covenants, affirmative covenants and other restrictions on an ongoing basis.

RLJ Entertainment Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

RLJ Entertainment Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. Revenue for the three months ended June 30, 2014 was $32.1 million, a decrease of $2.2 million compared to the three months ended June 30, 2013 revenue of $34.286 million. The decrease in revenue for the second quarter of 2014 was primarily driven by a $3.5 million decline in revenue in the Company's Wholesale segment. This decline is attributed to the terminated feature film output deal, which occurred in the third quarter of 2013 and whose sell-off period ended on March 31, 2014. Net loss for the three months ended June 30, 2014 and 2013, was $2.3 million and $16.9 million, respectively. The improvement in earnings in 2014 is mostly attributable to improved gross margins, which were impacted by increased impairment charges taken in 2013, and management's implementation of a required projected return on investments in content of 20%. Adjusted EBITDA was $3.034 million against $6.274 million a year ago. The improvement in the three-month period ended June 30, 2014 versus 2013 is primarily driven by a decline in the net operating loss as a result of improved operational activity and gross margin, a decline in amortization of content as result of less impairment charges, and the effects of certain aforementioned charges recognized in 2013. Loss from operations was $2.463 million against $15.546 million a year ago. Loss before provision for income taxes was $1.898 million against $16.359 million a year ago. For the six months ended June 30, 2014 revenue decreased $12.2 million compared to the six months ended June 30, 2013. The decrease in revenue was primarily driven by (1) the timing of release of its Foyle's War franchise series between 2013 and 2014 and (2) the impact of the terminated feature film output deal. Net loss for the six months ended June 30, 2014 and 2013, was $12.3 million and $20.5 million, respectively. The improvement in earnings in 2014 is mostly attributable to improved gross margins, which were impacted by increased impairment charges taken in 2013, and management's implementation of a required projected return on investments in content of 20%. Loss from operations was $8.854 million against $16.124 million a year ago. Loss before provision for income taxes was $11.661 million against $19.491 million a year ago. Adjusted EBITDA was $3.688 million against $2.538 million a year ago.

RLJ Entertainment Inc. Announces Executive Changes

RLJ Entertainment Inc. has hired Stuart Shaw as its new Managing Director of RLJE International. Stuart will be overseeing the international licensing and distribution business for RLJ Entertainment. Stuart will join the company on September 1, 2014. Additionally, after nearly 20 years with the company, Lesley Fromant, Managing Director of RLJE Australia is retiring on January 15, 2015. At that time, Stuart will manage RLJE Australia and oversee all RLJE's distribution business outside of North America. Most recently, Stuart was the Director of International Sales & Marketing for Miramax's London office. Stuart is replacing Paul Holland, who has been managing the U.K. office since 2006.

 

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