SFX Reports Q4 Revenues Of $84.2 Million
March 27, 2014 at 6:08 AM (PT)
SFX ENTERTAINMENT has reported financial results for the twelve and three months ended DECEMBER 31st, 2013.
Revenue for the twelve and three months ended DECEMBER 31st, 2013 totaled $170.5 million and $84.2 million, respectively. Direct costs for the twelve and three months ended DECEMBER 31, 2013 totaled $140.1 million and $65.1 million, respectively. Net loss for the 12 and three-month periods was $111.9 million and $39.2 million, or $(1.73) and $(0.48) per share, respectively. Per share results for the twelve and three month periods are based on 64.7 million and 81.2 million diluted weighted average shares outstanding, respectively.
“Our operating and financial accomplishments in 2013 and 2014 to date are a gratifying testimonial to our people and our vision,” commented Chairman/CEO ROBERT FX SILLERMAN. “The number of major festivals already scheduled for 2014 is in excess of 65, representing a 20% increase from the 2013 schedule. The majority of these festivals are new editions of known, successful events. We're also looking forward to completely new festival experiences, including the five Corona Sunset events and the ‘Don’t Let Daddy Know’ event created by ID&T and our partners."