RLJ ENTERTAINMENT, INC. (RLJE) Files An 8-K Results of Operations and Financial Condition
Item 2.02. Results of Operations and Financial Condition.
On November 14, 2016 RLJ Entertainment, Inc., a Nevada
corporation, (the Company), issued a press release announcing its
operating results for its third fiscal quarter ended September
30, 2016. A copy of the press release is furnished as Exhibit
99.1 attached hereto and is incorporated by reference in its
entirety into this Item 2.02 of this Current Report on Form 8-K.
The information contained in this Item 2.02 and Exhibit 99.1 is
being furnished and shall not be deemed to be filed for purposes
of Section 18 of the Securities Exchange Act or otherwise subject
to the liability of that section. Such information shall not be
incorporated by reference in any filing of the Company, whether
made before or after the date hereof, regardless of any general
incorporation language in such filing, except as otherwise
expressly set forth by specific reference in such a filing.
Adjusted EBITDA and Other Non-GAAP Measures
In the press release, the Company discloses Adjusted EBITDA which
is a non-GAAP financial measure, as defined in Regulation G
promulgated by the Securities and Exchange Commission. A
reconciliation of Adjusted EBITDA to net loss is included in page
6 of Exhibit 99.1.
This non-GAAP financial measure, Adjusted EBITDA, is in addition
to, not an alternative for, or superior to, measures of financial
performance prepared in accordance with GAAP. In addition, this
non-GAAP measure is not based on any comprehensive set of
accounting rules or principles. The Company believes that this
non-GAAP measure has limitations in that it does not reflect all
of the amounts associated with the Companys results of operations
as determined in accordance with GAAP and that this measure
should only be used to evaluate the Companys results of
operations in conjunction with corresponding GAAP measures.
The Company believes Adjusted EBITDA to be a meaningful indicator
of its performance that provides useful information to investors
regarding its financial condition and results of operations
because it removes material non-cash items that allows investors
to analyze the operating performance of the business using the
same metric management uses. The exclusion of non-cash items
better reflects the Companys ability to make investments in the
business and meet obligations. Adjusted EBITDA is a non-GAAP
financial measure commonly used in the entertainment industry and
by financial analysts and others who follow the industry to
measure operating performance. The Company uses this measure to
assess operating results and performance of its business, perform
analytical comparisons, identify strategies to improve
performance and allocate resources to its business segments.
While the Company considers Adjusted EBITDA to be an important
measure of comparative operating performance, it should be
considered in addition to, but not as a substitute for, net
income and other measures of financial performance reported in
accordance with GAAP. Not all companies calculate Adjusted EBITDA
in the same manner, and the measure, as presented, may not be
comparable to similarly-titled measures presented by other
companies.
Item 9.01. Financial Statements and Exhibits.
(d)Exhibits
|
Exhibit No. |
Description |
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99.1 |
Press release issued on November 14, 2016 |
About RLJ ENTERTAINMENT, INC. (RLJE)