Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers M > Headlines for Mood Media Corp. > News item |
Mood Media boasts revenue growth, ends Q1 with $608 million net debt
By Lisa Kerner
Charlotte, N.C., May 14 – Mood Media Corp.’s first-quarter results were in line with expectations, despite “headwinds from foreign exchange and asset disposals,” according to president and chief executive officer Steve Richards.
The company held its earnings conference call on Thursday.
Mood Media’s quarterly results reflect its second consecutive quarter of positive underlying revenue growth and its third consecutive quarter of EBITDA gains compared to the prior year, said Richards.
First-quarter revenues totaled about $114 million, and EBITDA was up 3% at about $24 million.
Subsequent to quarter-end, Mood Media announced a fully backstopped $50 million private placement of foreign subsidiary debt that will enable the company to fully repay its convertible debentures at maturity in October.
Net debt at March 31 totaled roughly $608 million, and restricted cash totaled about $26 million, both essentially flat with the prior quarter, according to the earnings news release.
The Toronto-based company designs in-store consumer experiences, including audio, visual, interactive, scent, voice and advertising solutions.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.