TheScore, Inc. Announces Senior Leadership Changes; Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended May 31, 2013
The company reported unaudited consolidated earnings results for the third quarter and nine months ended May 31, 2013. For the quarter, the company reported revenue of CAD 1,368,000 compared to CAD 1,145,000 a year ago. Operating loss was CAD 3,131,000 compared to CAD 2,702,000 a year ago. Net and comprehensive loss was CAD 3,126,000 or CAD 0.03 basic and diluted per share compared to CAD 2,873,000 or CAD 0.03 basic and diluted per share a year ago. LBITDA was CAD 2,350,000 compared to CAD 2,067,000 a year ago.
For the nine months period, the company reported revenue of CAD 3,974,000 compared to CAD 2,861,000 a year ago. Operating loss was CAD 9,143,000 compared to CAD 5,850,000 a year ago. Net and comprehensive loss was CAD 9,237,000 or CAD 0.09 basic and diluted per share compared to CAD 6,269,000 or CAD 0.07 basic and diluted per share a year ago. Net cash used in operating activities was CAD 6,552,000 compared to CAD 5,043,000 a year ago. Additions of property and equipment were CAD 1,773,000 compared to CAD 119,000 a year ago. Additions of intangible assets were CAD 1,916,000 compared to CAD 2,972,000 a year ago. LBITDA was CAD 7,079,000 compared to CAD 4,654,000 a year ago. This difference was primarily as a result of an increased investment in personnel related to the development of theScore's mobile apps as well as the impact of the Ontario Interactive Digital Media Tax Credit, which reduced the comparative EBITDA loss by CAD 1.48 million for the same nine-month period last year.