Click here to close now.

Welcome!

Wireless Authors: Pat Romanski, David Miller, JP Morgenthal, AppDynamics Blog, Roger Strukhoff

News Feed Item

YOU On Demand Reports 2014 Q2 Results

Investor Update Call Scheduled Today at 4:30 p.m. ET

NEW YORK, Aug. 14, 2014 /PRNewswire/ -- YOU On Demand Holdings, Inc. (NASDAQ: YOD) ("YOU On Demand" or the "Company"), a leading Video On Demand service provider in China delivering Hollywood movies to mobile and TV screens, today announced its operating results for the three- and six-month periods ended June 30, 2014 (a full copy of its quarterly report on Form 10-Q will be posted at www.sec.gov).  Chairman Shane McMahon, CEO Weicheng Liu and President and CFO Marc Urbach are hosting an investor update conference call today at 4:30 p.m. ET to discuss the Company's recent results.  To join the webcast, please visit the 'Webcasts and Events' section of the YOD corporate website, http://corporate.yod.com.  Otherwise, the toll-free dial-in is: 877/407-3107; international callers should dial: 201/493-6796.

Shane McMahon, Chairman of YOU On Demand, commented, "During the first half of 2014 we successfully pivoted the Company's strategy and its resources to prioritize our IPTV, OTT and Mobile platforms. Given the exciting potential of these fast-growing distribution modes, which are increasingly popular amongst China's tech-savvy and most active consumers of entertainment, YOU On Demand expects to continue generating positive momentum from this strategic shift. As a result, we expect to generate both improved operating efficiencies and enhanced financial results during the second half of this year."

YOU On Demand CEO Weicheng Liu, stated, "Building on the growing popularity of our YOU Hollywood App with Huawei device users, Xiaomi OTT Box owners and other early adopters, we recently softly launched our Hollywood App independently via popular app stores and online channels.  We believe select advertising, marketing and social media outreach, combined with word-of-mouth recommendations and endorsements from satisfied App users, will help promote our unique, differentiated service to an appreciative audience of China's most ardent movie fans."

YOU On Demand President & CFO Marc Urbach commented, "During this critical phase in our organization's corporate development, the senior financial and operations teams will continue striving to combine our strong, unlevered balance sheet, with conservative expense management and moderate levels of fixed overhead costs. There are many opportunities that lie ahead and we expect to best leverage these by maintaining our fiscally prudent strategy for the long-term benefit of the Company's shareholders."

2014 Q2 Operating Results

Revenue for the quarter ended June 30, 2014 increased to $183,000, up from $51,000 in the year-ago Q2 and up 33% over Q1 2014.   Gross loss for the quarter declined to $674,000, down from $739,000 in the comparable 2013 period. Total operating expenses for the quarter fell 10.6% to $2.5 million, reflecting a combination of content revenue-sharing agreements and disciplined corporate overhead levels. The loss from operations of $3.2 million for the quarter was down from a $3.5 million loss from operations in the comparable 2013 period. The net loss from continuing operations for the quarter was $1.1 million – which included a $1.5 million change in the fair value of warrant liabilities – versus $3.5 million net loss from continuing operations in the comparable 2013 period. The net loss attributable to YOU on Demand shareholders amounted to $793,000, down from approximately $3.3 million net loss in Q2 2013. The basic and diluted per share loss was $0.05, compared to a $0.22 basic and diluted per share loss in the year-ago Q2.

Cash and cash equivalents increased from $3.8 million at December 31, 2013, to $15.6 million at June 30, 2014.

YOU On Demand is maintaining full-year 2014 revenue guidance of $3 million.  

Safe Harbor Statement

This press release contains certain statements that may include "forward looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

About YOU On Demand Holdings, Inc. (http://corporate.yod.com)

YOU On Demand (NASDAQ: YOD), is a leading multi-platform entertainment company delivering premium content, including leading Hollywood and China-produced movie titles, to customers across China via Subscription Video On Demand and Transactional Video On Demand. The Company has secured alliances with leading global media operators and content developers.  YOU On Demand has content distribution agreements in place with many of Hollywood's top studios including Disney Media Distribution, Paramount Pictures, NBC Universal, Warner Bros., Miramax Films, Lionsgate and Magnolia Pictures, as well as a broad selection of the best content from Chinese filmmakers. The Company has a comprehensive end-to-end secure delivery system, governmental partnerships and approvals and offers additional value-added services. YOU On Demand has strategic partnerships with the largest media entities in China, a highly experienced management team with international background and expertise in Cable, Television, Film, Digital Media, Internet and Telecom. YOU On Demand is headquartered in New York, NY with its China headquarters in Beijing.

CONTACT:


Jason Finkelstein                  

Robert Rinderman or Norberto Aja

YOU On Demand                   

JCIR

212-206-1216                          

212-835-8500

[email protected]       

[email protected]

@youondemand


 

–      Financial Tables Follow –

 

YOU On Demand Holdings, Inc.,  Its Subsidiaries and Variable Interest Entity

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS












Three Months Ended


Six Months Ended



June 30,


June 30,


June 30,


June 30,



2014


2013


2014


2013










Revenue

$         182,696


$           50,619


$         320,377


$          51,557

Cost of revenue

857,179


790,019


1,733,117


1,638,604

Gross loss

(674,483)


(739,400)


(1,412,740)


(1,587,047)










Operating expense:









Selling, general and administrative expenses

2,270,657


2,073,537


3,911,297


4,050,767


Professional fees

76,231


223,051


261,715


474,485


Depreciation and amortization

139,590


173,394


289,550


466,227


Impairments of long-lived assets

-


311,249


-


311,249

Total operating expense

2,486,478


2,781,231


4,462,562


5,302,728










Loss from operations

(3,160,961)


(3,520,631)


(5,875,302)


(6,889,775)










Interest & other income (expense):









Interest expense, net

(28,321)


(29,704)


(2,317,059)


(59,064)


Change in fair value of warrant liabilities

1,501,632


(4,885)


(937,386)


(30,290)


Change in fair value of contingent consideration

589,994


(42,046)


(113,132)


(83,694)


Gain (loss) on investment in unconsolidated entities

(5,349)


2,275


(10,257)


(719)


Gain (loss) on sale of subsidiary

-


-


755,426


-


Loss on dissolution of variable interest entity

-


-


(27,463)


-


Other

(15,015)


71,777


(67,681)


70,596










Net loss from continuing operations









before income taxes and noncontrolling interest

(1,118,020)


(3,523,214)


(8,592,854)


(6,992,946)










Income tax benefit

32,495


29,821


55,437


60,961










Net loss from continuing operations

(1,085,525)


(3,493,393)


(8,537,417)


(6,931,985)










Net loss from discontinued operations 

-


(97,823)


-


(334,398)










Net loss

(1,085,525)


(3,591,216)


(8,537,417)


(7,266,383)










Plus:  Net loss attributable to noncontrolling interests

292,560


310,771


527,344


641,173










Net loss attributable to YOU On Demand shareholders

(792,965)


(3,280,445)


(8,010,073)


(6,625,210)

Dividends on preferred stock

-


-


(16,402,161)


-










Net loss attributable to YOU on Demand common shareholders

$       (792,965)


$    (3,280,445)


$   (24,412,234)


$   (6,625,210)










Basic and diluted loss per share:









Loss from continuing operations

$              (0.05)


$              (0.22)


$              (1.50)


$             (0.44)


Loss from discontinued operations

-


 nil 


-


(0.01)


Basic and diluted loss per share

$              (0.05)


$              (0.22)


$              (1.50)


$             (0.45)










Weighted average shares outstanding:









Basic and diluted

16,598,990


14,938,780


16,267,036


14,771,261










 

 

YOU On Demand Holdings, Inc.,  Its Subsidiaries and Variable Interest Entity

UNAUDITED CONSOLIDATED BALANCE SHEETS




June 30,


December 31,



2014


2013

ASSETS




Current assets:





Cash and cash equivalents

$       15,671,408


$          3,822,889


Accounts receivable, net

182,601


175,211


Licensed content, current

725,450


428,322


Prepaid expenses

316,249


330,013


Debt issuance costs, net

-


128,879


Other current assets

58,994


48,928

Total current assets

16,954,702


4,934,242






Property and equipment, net

428,812


499,858

Licensed content, noncurrent

79,868


162,646

Intangible assets, net

2,456,201


2,621,527

Goodwill

6,105,478


6,105,478

Investment in unconsolidated entities

658,436


673,567

Other noncurrent assets

224,876


-

Total assets

$       26,908,373


$       14,997,318






LIABILITIES, CONVERTIBLE REDEEMABLE PREFERRED STOCK AND EQUITY




Current liabilities:





Accounts payable

$             354,532


$             656,545


Deferred revenue

26,941


68,969


Accrued expenses and liabilities

1,301,692


1,075,944


Deferred license fees

1,364,716


1,200,764


Contingent purchase price consideration liability

691,876


578,744


Convertible promissory note

3,000,000


3,000,000


Warrant liabilities

901,197


1,344,440

Total current liabilities

7,640,954


7,925,406






Deferred income tax liability

70,372


125,809

Convertible promissory note

-


2,000,000

Total liabilities

7,711,326


10,051,215






Commitments and Contingencies









Convertible redeemable preferred stock, $.001 par value; 50,000,000





shares authorized





Series A - 7,000,000 shares issued and outstanding, liquidation preference





    of $3,500,000 at June 30, 2014 and December 31, 2013, respectively

1,261,995


1,261,995


Series C - 0 and 87,500 shares issued and outstanding, liquidation preference





    of $0 and $350,000 at June 30, 2014 and December 31, 2013, respectively

-


219,754


Series D 4% - 0 and 2,285,714 shares issued and outstanding, liquidation preference





    of $0 and $4,000,000 at June 30, 2014 and December 31, 2013, respectively

-


4,000,000






Equity:





Preferred Series E stock, $.001 par value; 16,500,000 shares authorized, 13,428,571 and 0 shares issued
and outstanding, liquidation preference of $23,500,000 and $0 at June 30, 2014 and December 31, 2013,
respectively

13,429


-


Common stock, $.001 par value; 1,500,000,000 shares authorized, 17,410,220 and 15,794,762 shares
issued at June 30, 2014 and December 31, 2013, respectively

17,410


15,794


Additional paid-in capital

111,566,478


67,417,025


Accumulated deficit

(90,346,752)


(65,856,053)


Accumulated other comprehensive loss

(1,402,245)


(715,090)

Total YOU On Demand equity 

19,848,320


861,676

Noncontrolling interests

(1,913,268)


(1,397,322)






Total equity

17,935,052


(535,646)






Total liabilities, convertible redeemable preferred stock and equity

$       26,908,373


$       14,997,318






SOURCE YOU On Demand Holdings, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
The true value of the Internet of Things (IoT) lies not just in the data, but through the services that protect the data, perform the analysis and present findings in a usable way. With many IoT elements rooted in traditional IT components, Big Data and IoT isn’t just a play for enterprise. In fact, the IoT presents SMBs with the prospect of launching entirely new activities and exploring innovative areas. CompTIA research identifies several areas where IoT is expected to have the greatest impact.
The 4th International Internet of @ThingsExpo, co-located with the 17th International Cloud Expo - to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA - announces that its Call for Papers is open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, data security and privacy.
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will addresses this very serious issue of profound change in the industry.
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) i...
All major researchers estimate there will be tens of billions devices - computers, smartphones, tablets, and sensors - connected to the Internet by 2020. This number will continue to grow at a rapid pace for the next several decades. With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo, June 9-11, 2015, at the Javits Center in New York City. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be
Container frameworks, such as Docker, provide a variety of benefits, including density of deployment across infrastructure, convenience for application developers to push updates with low operational hand-holding, and a fairly well-defined deployment workflow that can be orchestrated. Container frameworks also enable a DevOps approach to application development by cleanly separating concerns between operations and development teams. But running multi-container, multi-server apps with containers is very hard. You have to learn five new and different technologies and best practices (libswarm, sy...
SYS-CON Events announced today that DragonGlass, an enterprise search platform, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. After eleven years of designing and building custom applications, OpenCrowd has launched DragonGlass, a cloud-based platform that enables the development of search-based applications. These are a new breed of applications that utilize a search index as their backbone for data retrieval. They can easily adapt to new data sets and provide access to both structured and unstruc...
The Internet of Things is a misnomer. That implies that everything is on the Internet, and that simply should not be - especially for things that are blurring the line between medical devices that stimulate like a pacemaker and quantified self-sensors like a pedometer or pulse tracker. The mesh of things that we manage must be segmented into zones of trust for sensing data, transmitting data, receiving command and control administrative changes, and peer-to-peer mesh messaging. In his session at @ThingsExpo, Ryan Bagnulo, Solution Architect / Software Engineer at SOA Software, focused on desi...
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
SYS-CON Events announced today that MetraTech, now part of Ericsson, has been named “Silver Sponsor” of SYS-CON's 16th International Cloud Expo®, which will take place on June 9–11, 2015, at the Javits Center in New York, NY. Ericsson is the driving force behind the Networked Society- a world leader in communications infrastructure, software and services. Some 40% of the world’s mobile traffic runs through networks Ericsson has supplied, serving more than 2.5 billion subscribers.
While great strides have been made relative to the video aspects of remote collaboration, audio technology has basically stagnated. Typically all audio is mixed to a single monaural stream and emanates from a single point, such as a speakerphone or a speaker associated with a video monitor. This leads to confusion and lack of understanding among participants especially regarding who is actually speaking. Spatial teleconferencing introduces the concept of acoustic spatial separation between conference participants in three dimensional space. This has been shown to significantly improve comprehe...
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists will peel away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud environment, and we must architect and code accordingly. At the very least, you'll have no problem fil...
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Today’s enterprise is being driven by disruptive competitive and human capital requirements to provide enterprise application access through not only desktops, but also mobile devices. To retrofit existing programs across all these devices using traditional programming methods is very costly and time consuming – often prohibitively so. In his session at @ThingsExpo, Jesse Shiah, CEO, President, and Co-Founder of AgilePoint Inc., discussed how you can create applications that run on all mobile devices as well as laptops and desktops using a visual drag-and-drop application – and eForms-buildi...
The Internet of Things promises to transform businesses (and lives), but navigating the business and technical path to success can be difficult to understand. In his session at @ThingsExpo, Sean Lorenz, Technical Product Manager for Xively at LogMeIn, demonstrated how to approach creating broadly successful connected customer solutions using real world business transformation studies including New England BioLabs and more.
The recent trends like cloud computing, social, mobile and Internet of Things are forcing enterprises to modernize in order to compete in the competitive globalized markets. However, enterprises are approaching newer technologies with a more silo-ed way, gaining only sub optimal benefits. The Modern Enterprise model is presented as a newer way to think of enterprise IT, which takes a more holistic approach to embracing modern technologies.
Every day we read jaw-dropping stats on the explosion of data. We allocate significant resources to harness and better understand it. We build businesses around it. But we’ve only just begun. For big payoffs in Big Data, CIOs are turning to cognitive computing. Cognitive computing’s ability to securely extract insights, understand natural language, and get smarter each time it’s used is the next, logical step for Big Data.