Sequential Brands Group, Inc. (SQBG.OB) reported fourth-quarter net loss attributable to common stockholders of $7.35 million or $3.00 per share, wider than $3.4 million or $1.41 per share in the previous year.
Excluding items, adjusted loss was $0.9 million or $0.37 per share, while the company posted a net income of $0.4 million or $0.16 per share in the prior-year quarter.
Loss from continuing operations for the recent quarter was $2.60 per share, compared to earnings of $0.16 per share a year ago.
Total revenues from continuing operations increased to $1.83 million from $0.4 million in the preceding year.
For the quarter, the company posted operating expenses totaling $7.95 million, significantly higher than $36 thousand in the prior year.
Commenting on the full year, Yehuda Shmidman, CEO of the company said, "2012 was a transformational year for the Company as we closed down our wholesale and retail operations and re-launched our Company under a new name, Sequential Brands Group, with a new business model, being a focused brand management company."
by RTT Staff Writer
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