Acorn International Reports Financial Results for the Second Quarter of 2019
ACORN INTL (ATV)
US:NYSE Investor Relations:
acorninternationalir.com/home/category/press-release
Company Research
Source: PR Newswire
SHANGHAI, Sept. 16, 2019 /PRNewswire/ -- Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), a leading marketing and branding company in China, today announced its preliminary unaudited financial results for the quarter and six months ended June 30, 2019.Second Quarter 2019 Financial HighlightsNet revenues increased 38.6% year-over-year in Q2 2019 to US$8.7 million. Gross profit rose 39.9% year-over-year in Q2 2019 to US$6.2 million. Gross margin increased to 71.8% in Q2 2019, compared to 71.2% in Q2 2018. Loss from continuing operations was US$0.5 million in Q2 2019, compared to a loss from continuing operations of US$0.5 million in Q2 2018. Net income was US$0.1 million in Q2 2019 as compared to net income of US$23.8 million in Q2 2018. The year ago period includes a $27.7 million capital gain from the sale of the Company's Bright Rainbow Investments Limited subsidiary in April 2018. The board of directors declared a cash dividend for the second quarter of 2019 of US$0
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