Sequential Brands Group records profit in Q3

Sequential Brands Group Total revenue for the third quarter ended September 30, 2020 at Sequential Brands Group was 24 million dollars compared to 25.4 million dollars in the prior year quarter. Adjusted EBITDA from continuing operations reached 18.9 million dollars compared to 13.2 million dollars in the prior year quarter.

On a GAAP basis, the company said in a statement, income from continuing operations was 4.5 million dollars or 2.71 dollars per diluted share, compared to loss of 18.4 million dollars or 11.31 dollars per diluted share in the same quarter last year, while non-GAAP net income was 2.1 million dollars or 1.30 dollars per diluted share compared to a non-GAAP net loss of 0.9 million dollars or 53 cents per diluted share, in the prior year quarter.

Total revenue for the nine months was 66.8 million dollars compared to 77.3 million dollars in the prior year period. On a GAAP basis, loss from continuing operations for the period was 83.8 million dollars or 50.96 dollars per diluted share compared to 26.4 million dollars or 16.36 dollars per diluted share for the nine months ended September 30, 2019, while non-GAAP net loss was 10 million dollars or 6.08 dollars per diluted share compared to 7.7 million dollars or 4.74 dollars per diluted share, in the prior year period. The company added that adjusted EBITDA reached 43.7 million dollars compared to 37.7 million dollars in the prior year period.

Picture:Joe's Jeans website