Stockholm, 2012-08-23 03:46 CEST (GLOBE NEWSWIRE) --
• Revenue 6,877 KSEK (6,427)
• Operating income -969 KSEK (-3,015)
• Income after financial items -562 KSEK (-3,464)
• Net Income was -1,268 KSEK (-4,633) for the period and 2,191 KSEK (-2,610) for the second quarter
• Earnings per share -0.02 kr (-0.10 kr)
• “Conan the Barbarian” rights revert back to Paradox
• Solomon Kane film/tv license renewed in April 2012
• New co-financing closed for ‘Aint Them Bodies Saints’
• New co-finance opportunity for third quarter with ‘Thunder Run’
Financial Summary
Group revenue was 6,877 KSEK (6,427). Operating income was -969 KSEK (-3,015). Income after financial items was -562 KSEK (-3,464). Net income for second quarter was 2,191 KSEK (-2,610) and -1,268 KSEK (-4,633) for the period to date. Shareholders’ equity at period end was 58,921 KSEK (47,838) and the change in shareholders’ equity was -323 KSEK for the period. The solvency was 59.2% (55.3 %). Investments in intangible assets were 206 KSEK (904) 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 June 30, 2012, 6.9632 SEK per USD (6.309). The average exchange rate for the period was 6.8447 SEK per USD (6.373).
See attached document for full financial statement.
About Paradox Entertainment
Paradox Entertainment manages and develops its rights library by generating revenue from all forms of entertainment, including motion picture, television, gaming, publishing and toy industries. The Company’s library consists of such well-known brands as Conan the Barbarian, Kull of Atlantis, Solomon Kane, Mutant Chronicles, and the works of Robert E. Howard. Paradox Entertainment also represents third-party property owners expanding their IP into a variety of licensing categories. In addition, the company produces, co-produces and co-finances motion pictures aimed at the global market. The business is mainly carried out by Paradox Entertainment Inc., based in Los Angeles, California, USA. 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
