Stockholm, 2013-05-23 06:44 CEST (GLOBE NEWSWIRE) --
• Revenue 1,660 KSEK (1,812)
• Operating income -2,178 KSEK (-2,447)
• Income after financial items -2,184 KSEK (-2,902)
• Net Income -2,577 KSEK (-3,459)
• Earnings per share -0.03 kr (-0.05 kr)
• Slow progress in finalizing Conan long-form contract with Universal, 2013 production start seen as unlikely
• New rights issue announced after period end
• Organizational changes announced after period end
• Re-launch of Mutant Chronicles property with new licensing contracts
• New co-production agreements for “Priority Run” and “Reclaim”
• Strained liquidity situation
Financial Summary
Group revenue was 1,660 KSEK (1,812). Operating income was -2,178 KSEK (-2,447). Income after financial items was -2,184 KSEK (-2,902) and net income was -2,577 KSEK (-3,459). Shareholders’ equity was at period end 46,381 KSEK (54,412). The solvency was 68.6 % (58.4 %). Investments in intangible assets were 68 KSEK (110) 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, 2013, was 6.5156 SEK per USD (6.9234) and on March 31, 2013, 6.5162 SEK per USD (6.6209). The average exchange rate for the period was 6.4333 SEK per USD (6.7495).
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. 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.
Carl Molinder
Chief Executive Officer, Paradox Entertainment AB
Tel: +1 (323) 655-1700, Mob: +1 (310) 904-8310
cmolinder@paradoxent.com
Torsten Engevik,
Deputy Chief Executive Officer
Mob: +46 738 20 25 40
torsten.engevik@paradox-entertainment.com
Fredrik Malmberg,
President and CEO, Paradox Entertainment Inc
Tel: +1 (323) 655-1700, Mob: +1 (310) 663-3214
fmalmberg@paradoxent.com
Joakim Zetterberg,
Director of Licensing/Investor Relations
Tel: +1 (323) 655-1708, Mob: +1 (310) 623-2918
jzetterberg@paradoxent.com
