BEIJING, Nov. 25, 2015 /PRNewswire/ -- Bona Film Group
Limited (NASDAQ: BONA) ("Bona" or the "Company"), a leading
film distributor and vertically integrated film company in
China, today announced unaudited
financial results for the third quarter ended September 30, 2015.
"We are pleased with our third quarter results with non-GAAP net
income meeting our prior guidance," said Bona's founder, Chairman
and CEO Mr. Yu Dong. "Our movie
theater business continued its growth momentum in the third
quarter, achieving a year-over-year increase of 55%, which was
mainly driven by the Company's strategic expansion efforts with
additional theaters and screens. The rapid growth of China's film industry also benefitted our
overall business in the third quarter."
"In November, we were delighted to announce our investment in
TSG, one of the pre-eminent film financing companies in
the United States to build our
film presence in the international market as well as to participate
in more Hollywood mainstream film
projects, while also sharing in their worldwide box office
receipts. Our international expansion initiative is pivotal to our
long-term growth strategy, as it expands our market reach, with the
goal of becoming one of the leading film companies in China and around the world," Mr. Yu added.
Third Quarter 2015 Financial Summary
- Third quarter 2015 net revenues were US$78.9 million, a decrease of 21.1% from
US$100.0 million in the third quarter
of 2014.
- Third quarter 2015 gross profit was US$40.5 million, a decrease of 1.1% from
US$40.9 million in the third quarter
of 2014.
- Third quarter 2015 gross margin was 51.3%, compared with 40.9%
in the third quarter of 2014.
- Third quarter 2015 net income attributable to Bona Film Group
Limited was US$0.8 million, or
US$0.01 per basic and diluted ADS[1],
compared with net income attributable to Bona Film Group Limited of
US$5.9 million, or US$0.10 and US$0.09, per basic and diluted ADS, in the third
quarter of 2014, respectively.
- Third quarter 2015 non-GAAP net income[2] was US$5.1 million, compared with non-GAAP net income
of US$9.3 million in the third
quarter of 2014.
- Third quarter 2015 adjusted EBITDA, non-GAAP[2] was
US$9.9 million, compared with
adjusted EBITDA, non-GAAP of US$16.5
million in the third quarter of 2014.
- Cash and cash equivalents and restricted cash totaled
US$150.9 million as of September 30, 2015.
- Cash used in operating activities totaled US$164.9 million in the third quarter of 2015,
compared with cash provided from operating activities of
US$1.3 million in the third quarter
of 2014.
[1]
|
"ADS" is American
depositary share. Each two ADSs represent one ordinary
share.
|
[2]
|
As used in this press
release, non-GAAP net income and non-GAAP net income attributable
to Bona Film Group Limited per ADS exclude share-based compensation
expenses. Adjusted EBITDA, non-GAAP excludes share-based
compensation expenses, interest, taxes and non-cash depreciation
and amortization charges. See "Non- GAAP Financial Measures" and
"Reconciliation of Non-GAAP Measures" at the end of this press
release.
|
Third Quarter 2015 Business Updates and Recent
Highlights
- Distributed and/or invested in a total of 5 films in the third
quarter of 2015 – Bride Wars and The Dead End were
Bona's top performers in the third quarter. The five films
generated total box office receipts of RMB587.3 million to date.
- Distributed Bride Wars on August
20, 2015. The film has generated RMB173.3 million in domestic box office
receipts.
- Distributed The Dead End on August 27, 2015. The film has generated
RMB304.5 million in domestic box
office receipts.
- Major films undergoing production in the third quarter of 2015
include The Cinema That Never Dies, Sword Master and The
Treasure.
- The movie theater business achieved record quarterly revenues
of US$33.8 million, a 55.0% increase
compared with the same period last year.
- As of September 30, 2015, Bona
owned and operated 30 theaters with 250 screens, including seven
DMAX screens and two IMAX screens.
- On November 5, 2015, the Company
announced an investment (the "Investment") of $235 million in TSG Entertainment Finance LLC
("TSG"). TSG is a film finance entity working with Twentieth
Century Fox to finance primarily live action films. The
Investment is structured primarily with the Bona Film Fund and a
credit facility arranged by East West
Bank, and entitles Bona to participate in the on-going slate
financing arrangement that TSG has with Twentieth Century Fox,
which will continue to distribute films worldwide. Films previously
included in the TSG slate were Dawn of the Planet of the
Apes, X-Men Days of Future Past, and the recently
released Ridley Scott film, starring
Matt Damon, The Martian.
Third Quarter 2015 Financial Results
Net Revenues
|
3Q15
|
3Q14
|
Y-o-Y%
|
Net Revenues
(US$mm)
|
78.9
|
100.0
|
(21.1)%
|
Net revenues for the third quarter of 2015 decreased 21.1%
year-over-year to US$78.9 million.
The decrease in net revenues was primarily attributable to the
stronger performance of the films distributed in the third quarter
of 2014, especially the films The White-Haired
Witch and The Continent.
Net Revenues by Segment Operations
|
Film
Distribution
|
Film
Investment & Production
|
Movie
Theater
|
Talent
Agency
|
Intersegment
Elimination
|
Consolidated
|
Net Revenues from
External Customers (US$mm)
|
46.2
|
0.1
|
32.5
|
0.1
|
-
|
78.9
|
Intersegment Revenues
(US$mm)
|
1.6
|
12.5
|
1.3
|
-
|
(15.4)
|
-
|
Total Net Revenues
(US$mm)
|
47.8
|
12.6
|
33.8
|
0.1
|
(15.4)
|
78.9
|
Net revenues from the film distribution segment totaled US47.8
million in the third quarter of 2015, a decrease of 39.6% from
US$79.1 million in the third quarter
of 2014. The decrease was mainly due to the stronger performance of
the films distributed in the third quarter of 2014, especially the
film The Continent. During the third quarter of 2015, Bona
distributed and/or invested in a total of 5 films, with Bride
Wars and The Dead End being well received by movie
audiences.
Net revenues from the film investment and production segment
were US$12.6 million in the third
quarter of 2015, a decrease of 32.3% from US$18.6 million in the third quarter of 2014. The
decrease was mainly due to the stronger performance of the films
distributed in the third quarter of 2014, especially the film
The White-Haired Witch.
Net revenues from the movie theater segment were US$33.8 million in the third quarter of 2015, a
55.0% increase from US$21.8 million
in the third quarter of 2014. The increase was mainly due to the
increase in the number of theaters and screens from the Company's
strategic expansion efforts, and the maturation of new theaters
over time.
Gross Profit and Gross Margin
|
3Q15
|
3Q14
|
Y-o-Y%
|
Gross Profit
(US$mm)
|
40.5
|
40.9
|
(1.1)%
|
Gross
Margin
|
51.3%
|
40.9%
|
-
|
For the third quarter of 2015, gross profit slightly decreased
to US$40.5 million, compared with
US$40.9 million in the third quarter
of 2014.
Segment Profit[3] and Segment Margin
|
Film
Distribution
|
Film
Investment & Production
|
Movie
Theater
|
Talent
Agency
|
Consolidated
|
Segment Profit
(US$mm)
|
20.6
|
1.2
|
19.9
|
0.1
|
40.6
|
As % of Total Segment
Profit
|
50.7%
|
3.0%
|
49.0%
|
0.2%
|
100.0%
|
Segment
Margin
|
43.1%
|
9.5%
|
58.9%
|
100.0%
|
51.5%
|
Margin for the Company's film distribution segment was 43.1% in
the third quarter of 2015, compared with 37.3% in the third quarter
of 2014. The increase was mainly due to better economic returns on
films distributed in the third quarter of 2015.
Margin for the Company's film investment and production segment
was 9.5% in the third quarter of 2015, compared with a segment
margin of negative 24.2% in the third quarter of 2014. The increase
was the result of the acceleration of amortization, impairment and
one-time write-off of production costs in the third quarter of
2014.
Margin for the Company's movie theater segment was 58.9% in the
third quarter of 2015, in line with 58.3% in the third quarter of
2014.
[3]
|
Segment profit =
segment gross profit - film participation expenses + equity in
earnings of equity method investments.
|
Operating Income and Operating Margin
|
3Q15
|
3Q14
|
Y-o-Y%
|
Operating Expenses
(US$mm)
|
31.0
|
32.3
|
(4.2)%
|
Operating Income
(US$mm)
|
9.1
|
10.6
|
(13.9)%
|
Operating
Margin
|
11.6%
|
10.6%
|
-
|
Total operating expenses, including participation expenses,
general and administrative expenses, and selling and marketing
expenses, for the third quarter of 2015 slightly decreased to
US$31.0 million, compared with
US$32.3 million in the third quarter
of 2014.
Operating income for the third quarter of 2015 decreased 13.9%
to US$9.1 million from US$10.6 million in the third quarter of 2014.
Operating margin in the third quarter of 2015 was 11.6% compared
with 10.6% in the third quarter of 2014. The year-over-year
increase in operating margin was primarily due to the growth in the
Company's movie theater businesses.
Net Income and Net Income Attributable to Bona Film Group
Limited per ADS
|
3Q15
|
3Q14
|
Net Income
Attributable to Bona Film Group Limited (US$mm)
|
0.8
|
5.9
|
Net Income
Attributable to Bona Film Group Limited per Basic ADS
(US$)
|
0.01
|
0.10
|
Net Income
Attributable to Bona Film Group Limited per Diluted ADS
(US$)
|
0.01
|
0.09
|
|
|
3Q15
|
3Q14
|
Non-GAAP Net Income
(US$mm)
|
5.1
|
9.3
|
Non-GAAP Net Income
Attributable to Bona Film Group Limited per Basic ADS
(US$)
|
0.08
|
0.16
|
Non-GAAP Net Income
Attributable to Bona Film Group Limited per Diluted ADS
(US$)
|
0.08
|
0.15
|
Excluding share-based compensation expenses of US$4.5 million and US$3.6
million for the third quarters of 2015 and 2014,
respectively, non-GAAP net income for the third quarter of 2015 was
US$5.1 million, compared with
non-GAAP net income of US$9.3 million
in the third quarter of 2014.
|
3Q15
|
3Q14
|
Adjusted EBITDA,
non-GAAP (US$mm)
|
9.9
|
16.5
|
Adjusted EBITDA, non-GAAP in the third quarter of 2015 was
US$9.9 million, compared with
adjusted EBITDA, non-GAAP of US$16.5
million in the third quarter of 2014.
Cash and Cash Flow
As of September 30, 2015, Bona had
cash and cash equivalents and restricted cash totaling US$150.9 million, compared with US$153.6 million as of December 31, 2014. Net cash used in operating
activities for the third quarter of 2015 was US$164.9 million, compared with net cash provided
from operating activities of US$1.3
million for the third quarter of 2014. The change in cash
flow from operations was mainly attributable to the increase in
investment in films scheduled for release in future.
"I am very excited about our film slate for the fourth quarter
of 2015 and the first half of 2016, which includes highly
anticipated productions, such as The Treasure, The Cinema
That Never Dies, Absolutely Unexpected, and The Man from
Macau 3. In addition, the film
we are developing in partnership with Tristar and Studio 8,
Billy Lynn's Long Halftime
Walk, is in the post-production phase and is on schedule for a
November 2016 release. As we continue
to roll out our international expansion plan, we look forward to
adding more high quality films to our pipeline," concluded Mr.
Yu.
Third quarter 2015 Conference Call Details
Bona management will hold the earnings conference call at
8:00 p.m. Eastern Time on
Wednesday, November 25, 2015
(9:00 a.m. Beijing/Hong Kong Time on Thursday, November 26, 2015). Management will
discuss results and highlights of the quarter and answer questions
from investors.
The dial-in numbers for the earnings conference call are as
follows:
U.S. Toll Free: +1-855-500-8701
Hong Kong Toll Free: 800-906-606
China, Domestic: 400-120-0654
International: +65-6713-5440
The conference ID # is 85580082.
A live and archived webcast of the earnings conference call will
be available on the IR Calendar page of the Bona investor relations
website at http://ir.bonafilm.cn/events.cfm.
About Bona Film Group Limited
Bona Film Group Limited (NASDAQ:BONA) is a leading film
distributor in China, with an
integrated business model encompassing film distribution, film
production, film exhibition and talent representation. Bona
distributes films to Greater
China, Korea, Southeast
Asia, the United States and
Europe, invests and produces
movies in a variety of genres, owns and operates thirty movie
theaters and manages a range of talented and popular Chinese
artists.
For more information about Bona, please visit
http://www.bonafilm.cn.
To be added to Bona's email list to receive Company news, please
send your request to bona@tpg-ir.com.
Forward Looking Statements
This news release may contain certain "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and as defined in the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can
be identified by terminology such as "will," "expects,"
"anticipates," "future," "intends," "plans," "believes,"
"estimates" and similar statements. All statements other than
statements of historical fact in this press release are
forward-looking statements and involve certain risks and
uncertainties that could cause actual results to differ materially
from those in the forward-looking statements. These forward-looking
statements are based on management's current expectations,
assumptions, estimates and projections about the Company and the
industry in which the Company operates, but involve a number of
unknown risks and uncertainties, Further information regarding
these and other risks is included in the Company's filings with the
U.S. Securities and Exchange Commission. The Company undertakes no
obligation to update forward-looking statements to reflect
subsequent occurring events or circumstances, or changes in its
expectations, except as may be required by law. Although the
Company believes that the expectations expressed in these
forward-looking statements are reasonable, it cannot assure you
that such expectations will turn out to be correct, and actual
results may differ materially from the anticipated results. You are
urged to consider these factors carefully in evaluating the
forward-looking statements contained herein and are cautioned not
to place undue reliance on such forward-looking statements, which
are qualified in their entirety by these cautionary statements.
Non-GAAP Financial Measures
To supplement Bona's consolidated financial results presented in
accordance with GAAP, Bona uses the following measures defined as
non-GAAP financial measures by the SEC: non-GAAP net income,
non-GAAP net income attributable to Bona Film Group Limited per
ADS, which exclude share-based compensation expenses, and adjusted
EBITDA, non-GAAP, which excludes share-based compensation expenses,
interest, taxes, and non-cash depreciation and amortization
charges. The presentation of these non-GAAP financial measures is
not intended to be considered in isolation, as a substitute for, or
to be superior to the financial information prepared and presented
in accordance with GAAP. In addition, Bona's definition of non-GAAP
net income may be different from the definitions used by other
companies, and therefore comparability may be limited.
Bona believes that these non-GAAP financial measures provide
meaningful supplemental information regarding its performance by
excluding certain expenses and expenditures that may not be
indicative of its operating performance and a supplemental
liquidity measure which is useful for understanding and evaluating
the Company's capacity for servicing its debt, and otherwise
meeting its cash needs. Adjusted EBITDA, non-GAAP excludes
depreciation and amortization, so it does not reflect any cash
requirements for the replacement of the assets, which will often
have to be replaced in the future. The Company believes that both
management and investors benefit from referring to these non-GAAP
financial measures in assessing the Company's performance and
liquidity, and when planning and forecasting future periods. The
table appears at the end of this press release has more details on
the reconciliations between GAAP financial measures that are
comparable to non-GAAP financial measures.
Contact
Us
|
|
In
China:
|
In the
U.S.:
|
Peng Li
|
The Piacente Group,
Inc.
|
Bona Film Group
Limited
|
Investor
Relations
|
Tel:
+86-10-5631-0700-398
|
Don
Markley
|
Email: ir@bonafilm.cn
|
Tel: (212)
481-2050
|
|
Email:
bona@tpg-ir.com
|
BONA FILM GROUP
LIMITED
Unaudited
Condensed Consolidated Statement of Operations
(in thousands of
U.S. dollars, except share data)
|
|
Three-months
ended
September 30
|
|
Nine-months
ended
September 30
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
Net
revenues
|
78,918
|
|
100,044
|
|
267,554
|
|
201,504
|
Cost of
revenues
|
38,463
|
|
59,150
|
|
148,194
|
|
114,050
|
Gross
profit
|
40,455
|
|
40,894
|
|
119,360
|
|
87,454
|
Film participation
expenses
|
(1,533)
|
|
3,985
|
|
13,541
|
|
11,856
|
Selling and marketing
expenses
|
10,869
|
|
11,854
|
|
35,120
|
|
20,530
|
General and
administrative expenses
|
21,640
|
|
16,489
|
|
60,769
|
|
45,047
|
Total operating
expenses
|
30,976
|
|
32,328
|
|
109,430
|
|
77,433
|
|
|
|
|
|
|
|
|
Government
subsidies
|
997
|
|
939
|
|
3,278
|
|
1,876
|
Equity in earnings of
equity method investments, net of tax
|
(1,340)
|
|
1,109
|
|
2,981
|
|
3,328
|
Operating
income
|
9,136
|
|
10,614
|
|
16,189
|
|
15,225
|
Interest income from
bank deposits
|
334
|
|
316
|
|
1,284
|
|
904
|
Interest income from
loan to producer of TV series
|
30
|
|
10
|
|
90
|
|
10
|
Interest
expenses
|
(1,152)
|
|
(481)
|
|
(3,625)
|
|
(1,198)
|
Exchange (loss)
gain
|
(4,074)
|
|
856
|
|
(3,949)
|
|
(673)
|
Other
income
|
380
|
|
71
|
|
522
|
|
213
|
Investment
income
|
-
|
|
-
|
|
-
|
|
64
|
Loss on deconsolidation of a subsidiary
|
(1,831)
|
|
-
|
|
(1,803)
|
|
-
|
Income before income
taxes
|
2,823
|
|
11,386
|
|
8,708
|
|
14,545
|
|
|
|
|
|
|
|
|
Provision for income
taxes
|
2,230
|
|
5,655
|
|
6,880
|
|
6,982
|
Net income
|
593
|
|
5,731
|
|
1,828
|
|
7,563
|
|
|
|
|
|
|
|
|
Less: Net loss
attributable
to the noncontrolling interests
|
(180)
|
|
(140)
|
|
(433)
|
|
(422)
|
Net income
attributable
to Bona Film Group Limited
|
773
|
|
5,871
|
|
2,261
|
|
7,985
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
attributable to Bona Film Group Limited per ADS
|
|
|
|
|
|
|
|
Basic
|
0.01
|
|
0.10
|
|
0.04
|
|
0.13
|
Diluted
|
0.01
|
|
0.09
|
|
0.03
|
|
0.13
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares used in calculating net income per ordinary share
|
|
|
|
|
|
|
|
Basic
|
31,188,741
|
|
30,409,861
|
|
30,854,369
|
|
30,334,730
|
Diluted
|
34,110,140
|
|
31,809,409
|
|
33,511,816
|
|
31,591,505
|
BONA FILM GROUP
LIMITED
Unaudited
Condensed Consolidated Statement of Comprehensive (Loss)
Income
(In thousands of
U.S. dollars)
|
|
Three-months
ended
September 30
|
|
Nine-months
ended
September 30
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
Net income
|
593
|
|
5,731
|
|
1,828
|
|
7,563
|
Other comprehensive
income, net of tax
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments
|
(3,743)
|
|
1,323
|
|
(3,607)
|
|
(1,459)
|
Comprehensive (loss)
income
|
(3,150)
|
|
7,054
|
|
(1,779)
|
|
6,104
|
Less: comprehensive
loss attribute to the noncontrolling interests
|
(183)
|
|
(137)
|
|
(437)
|
|
(424)
|
Comprehensive (loss)
income attributable to Bona Film Group Ltd.
|
(2,967)
|
|
7,191
|
|
(1,342)
|
|
6,528
|
BONA FILM GROUP
LIMITED
Unaudited
Condensed Consolidated Balance Sheets
(In thousands of
U.S. dollars, except share data)
|
|
September
30,
|
|
December
31,
|
|
2015
|
|
2014
|
|
|
|
|
Cash and cash
equivalents
|
75,799
|
|
97,171
|
Restricted
cash
|
75,108
|
|
56,473
|
Accounts receivable
and notes receivable, net of allowance for doubtful
accounts
|
71,801
|
|
72,680
|
Prepaid expenses and
other current assets
|
25,870
|
|
23,691
|
Amounts due from
related parties
|
1,028
|
|
269
|
Current deferred tax
assets
|
1,516
|
|
1,564
|
Inventories
|
585
|
|
377
|
Total current
assets
|
251,707
|
|
252,225
|
|
|
|
|
Distribution
rights
|
11,555
|
|
6,546
|
Production
costs
|
167,928
|
|
168,475
|
Prepaid film
costs
|
5,730
|
|
4,407
|
Property and
equipment, net
|
86,063
|
|
75,716
|
Acquired intangible
assets, net
|
2,336
|
|
2,346
|
Non-current deferred
tax assets
|
793
|
|
918
|
Cost method
investments
|
1,474
|
|
1,477
|
Equity method
investments
|
67,913
|
|
34,622
|
Goodwill
|
48,141
|
|
49,312
|
Long-term prepaid
expenses
|
18
|
|
34
|
Other non-current
assets
|
151,629
|
|
-
|
Total
assets
|
795,287
|
|
596,078
|
|
|
|
|
Accounts payable
(including accounts payable of the consolidated variable interest
entities without recourse to Bona Film Group Limited of $58,174 and
$29,882 as of September 30,2015 and December 31, 2014,
respectively)
|
59,010
|
|
31,592
|
Accrued expenses and
other current liabilities (including accrued expenses and other
current liabilities of the consolidated variable interest entities
without recourse to Bona Film Group Limited of $57,992 and $46,699
as of September 30,2015 and December 31, 2014,
respectively)
|
58,374
|
|
50,686
|
Amounts due to
related parties (including amounts due to related parties of the
consolidated variable interest entities without recourse to Bona
Film Group Limited of $9,081 and $6,995 as of September 30,2015 and
December 31, 2014, respectively)
|
13,057
|
|
8,373
|
Income tax payable
(including income tax payable of the consolidated variable interest
entities without recourse to Bona Film Group Limited of $15,212 and
$11,734 as of September 30,2015 and December 31, 2014,
respectively)
|
8,594
|
|
11,702
|
Bank borrowings
(including bank borrowings of the consolidated variables interest
entities without recourse to Bona Film Group Limited of $28,321 and
$54,277 as of September 30, 2015 and December 31, 2014,
respectively)
|
120,828
|
|
127,293
|
Other borrowings
(including other borrowings of the consolidated variable interest
entities without recourse to Bona Film Group Limited of $1,697 and
$7,304 as of September 30, 2015 and December 31, 2014,
respectively)
|
26,697
|
|
7,304
|
Current film
participation financing liabilities with unrelated parties
(including current film participation financing liabilities with
unrelated parties of the consolidated variable interest entities
without recourse to Bona Film Group Limited of $14,106 and $13,063
as of September 30, 2015 and December 31, 2014,
respectively)
|
14,340
|
|
13,251
|
Current film
participation financing liabilities with related parties (including
current film participation financing liabilities with related
parties of the consolidated variable interest entities without
recourse to Bona Film Group Limited of $77,827 and $84,033 as of
September 30, 2015 and December 31, 2014, respectively)
|
77,827
|
|
84,033
|
Total current
liabilities
|
378,727
|
|
334,234
|
|
|
|
|
Bank borrowings
(including bank borrowings of the consolidated variable interest
entities without recourse to Bona Film Group Limited of
$5,951 and 24,227 as of September 30,2015 and December 31, 2014,
respectively)
|
5,951
|
|
24,227
|
Deferred income
(including deferred income of the consolidated variable interest
entities without recourse to Bona Film Group Limited of $1,010 and
$1,049 as of September 30,2015 and December 31, 2014,
respectively)
|
1,010
|
|
1,249
|
Non-current film
participation financing liabilities with an unrelated party
(including current film participation financing liabilities with an
unrelated party of the consolidated variable interest entities
without recourse to Bona Film Group Limited of nil and $1,990 as of
September 30,2015 and December 31, 2014, respectively)
|
-
|
|
1,990
|
Non-current film
participation financing liabilities with related parties (including
non-current film participation financing liabilities with related
parties of the consolidated variable interest entities without
recourse to Bona Film Group Limited of $174,636 and $14,667 as of
September 30,2015 and December 31, 2014, respectively)
|
174,636
|
|
14,667
|
Total
liabilities
|
560,324
|
|
376,367
|
|
|
|
|
Bona Film Group
Limited's ordinary shares (par value of US$0.0005 per share,
85,000,000 shares authorized, 32,402,346 and 31,359,919 shares
issued and outstanding as of September 30, 2015 and 31,402,346 and
30,496,848 shares issued and outstanding as of December 31,
2014)
|
16
|
|
15
|
Additional paid-in
capital
|
213,013
|
|
195,976
|
Statutory
reserves
|
3,704
|
|
3,704
|
Accumulated
profit
|
13,706
|
|
11,445
|
Accumulated other
comprehensive income
|
2,929
|
|
6,532
|
Total Bona Film Group
Limited's equity
|
233,368
|
|
217,672
|
|
|
|
|
Noncontrolling
interests
|
1,595
|
|
2,039
|
Total
equity
|
234,963
|
|
219,711
|
|
|
|
|
Total liabilities and
equity
|
795,287
|
|
596,078
|
BONA FILM GROUP
LIMITED
Unaudited
Reconciliation of Non-GAAP Measures
(in thousands of
U.S. dollars)
|
|
Three-months
ended
September 30
|
|
Nine-months
ended
September 30
|
|
2015
|
|
2014
|
|
2015
|
|
2014
|
|
|
|
|
|
|
|
|
Net
income
|
593
|
|
5,731
|
|
1,828
|
|
7,563
|
|
|
|
|
|
|
|
|
Adjustment for
share-based compensation
|
4,459
|
|
3,582
|
|
11,586
|
|
7,189
|
Adjusted net
income (non-GAAP)
|
5,052
|
|
9,313
|
|
13,414
|
|
14,752
|
|
|
|
|
|
|
|
|
Adjustment for
interest
|
788
|
|
155
|
|
2,251
|
|
284
|
Adjustment for
taxes
|
2,230
|
|
5,655
|
|
6,880
|
|
6,982
|
Adjustment for
depreciation & amortization
|
1,799
|
|
1,352
|
|
5,174
|
|
4,113
|
|
|
|
|
|
|
|
|
Adjusted EBITDA
(non-GAAP)
|
9,869
|
|
16,475
|
|
27,719
|
|
26,131
|
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/bona-reports-third-quarter-2015-financial-results-300184527.html
SOURCE Bona Film Group Limited