FAB Universal Q3 2013 revenue up significantly due to acquisition

FAB Universal (NYSE: FU) reported its total revenue for the third quarter ended September 30, 2013 was USD29.8m compared to USD1.7m for the third quarter of 2012 and USD25.9m for the second quarter ended June 30, 2013, a sequential increase of 15.1%.

Revenue for the wholesale business unit was USD14.0m for the third quarter of 2013 compared to none in the year ago period and USD14.0m for the second quarter of 2013. Revenue for the digital business unit was USD13.3m for the third quarter of 2013 compared to USD1.7m for the third quarter of 2012 and USD9.6m for the second quarter of 2013. Revenue for the retail business unit was USD2.5m for the third quarter of 2013 compared to none in the comparable period of 2012 and USD2.3m for the second quarter of 2013.

Third quarter 2013 gross profit was USD14.1m compared to USD1.0m for the third quarter of 2012 and USD11.5m for the second quarter of 2013, a sequential increase of 22.6%. The third quarter 2013 gross margin was 47.4% compared to 55.1% for the third quarter of 2012 and 44.4% for the second quarter of 2013. The third quarter sequential increases in revenue and gross profit reflect continued rapid growth of FAB´s digital business.

The company said it acquired DEI Ltd. on September 26, 2012; therefore year-over-year comparisons its financial results largely reflect the addition of DEI.

FAB Universal is a leader in digital media entertainment sales and distribution. FAB delivers media to its customers worldwide through Intelligent kiosks, retail stores and franchises, and online through Apple (NASDAQ: APPL) iTunes and Google (NASDAQ: GOOG) Android. The company´s website is at www.fabuniversal.com.

0saves
If you enjoyed this post, please consider leaving a comment or subscribing to the RSS feed to have future articles delivered to your feed reader.

Leave a Comment

Powered by WordPress