Acorn International Reports Financial Results for the Third Quarter of 2019, Declares Quarterly Dividend
ACORN INTL (ATV)
US:NYSE Investor Relations:
acorninternationalir.com/home/category/press-release
Company Research
Source: PR Newswire
SHANGHAI, Dec. 11, 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 nine months ended September 30, 2019.Third Quarter 2019 Financial HighlightsNet revenues increased 49.4% year-over-year in Q3 2019 to US$11.3 million. Gross profit rose 47.0% year-over-year in Q3 2019 to US$8.4 million. Gross margin was 73.9% in Q3 2019, compared to 75.1% in Q3 2018. Income from continuing operations was US$1.4 million in Q3 2019, compared to US$1.5 million in Q3 2018. Net income was US$1.2 million in Q3 2019 as compared to net income of US$3.8 million in Q3 2018. The year-ago period includes a US$2.4 million capital gain from the sale of the Company's Bright Rainbow Investments Limited ("Bright Rainbow") subsidiary. The board of directors declared a cash dividend for the third quarter of 2019 of US$0.0125 per ordinary share, or approx
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