Stockholm, 2012-05-24 08:52 CEST (GLOBE NEWSWIRE) --
• Revenue 1,306 KSEK (2,961)
• Operating income -2,447 KSEK (-1,579)
• Income after financial items -2,902 KSEK (-1,899)
• Net Income -3,459 KSEK (-2,023)
• Earnings per share -0.05 kr (-0.05 kr)
• Stan Lee Media lawsuit against Paradox dismissed by the Court
• Solomon Kane film/tv license renewed in April 2012, revenue will be reflected in second quarter results
Financial Summary
Group revenue was 1,306 KSEK (2,961). Operating income was -2,447 KSEK (-1,579). Income after financial items was -2,902 KSEK (-1,899) and net income was -3,459 KSEK (-2,023). Shareholders’ equity was at period end 54,412 KSEK (58,459). The change in shareholders’ equity was -4,832 for the period, of which -2,634 KSEK is related to exchange rate differences. The solvency was 58.4 % (72.8 %). The change in solvency from prior year is primarily related to the share issue in 2011 (see further under the heading “Share Issue”) and also the financing of a new project (see further under the heading “Financing”). Investments in intangible assets were 110 KSEK (409) during the period.
The vast majority of the operation is based in the United States, thus the financials are affected by the Swedish crown/U.S. dollar exchange rate. The exchange rate on January 1, 2012, was 6.9234 SEK per USD (6.8030) and on March 31, 2012, 6.6209 SEK per USD (6.3430). The average exchange rate for the period was 6.7495 SEK per USD (6.4830).
See attached document for full financial statement.
About Paradox Entertainment
Paradox Entertainment manages and develops global entertainment franchises by generating licensing revenue in all forms of media including motion picture, television, gaming, publishing and toy industries. The Company also acts as licensing agent for property owners like Starz and BBC. The shares of parent company Paradox Entertainment AB (PDXE, SE0000598054) are quoted on NASDAQ OMX, in the First North Premier segment. Erik Penser Bankaktiebolag acts as Certified Adviser. Read more about Paradox Entertainment on http://www.paradoxent.com.
Fredrik Malmberg
President & CEO
Tel: +1 (323) 655-1700, Mob: +1 (310) 663-3214
E-mail: fmalmberg@paradoxent.com
Torsten Engevik
Deputy Chief Executive Officer
Tel: +46 8-555 177 94, Mob: +46 738-20 25 40
E-mail: torsten.engevik@paradox-entertainment.com
Joakim Zetterberg
Director of Licensing / Investor Relations
Tel: +1 (323) 655-1708, Mob: +1 (310) 623-2918
E-mail: jzetterberg@paradoxent.com
