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SAN DIEGO, Nov. 15, 2012 (GLOBE NEWSWIRE) -- Genius Brands International, Inc. (OTCQB:GNUS), developer and marketer of entertainment products including the award-winning Baby Genius® line of music and education-based products and characters, today announced financial results for the third quarter of fiscal 2012 ended September 30, 2012.
Highlights for the three and nine months ended September 30, 2012 included:
For the nine months ended September 30, 2012 revenues increased by 12.5% to $4,304,823 from $3,824,917 in the same period of 2011
Q3 2012 revenues declined by 3% to $1,632,078 from $1,682,005 in Q3 of 2011
For the nine months ended September 30, 2012 net loss increased by 53% to $(1,910,341) or $(0.03) per common share as compared to a net loss of $(1,250,631) or $(0.02) per common share in the same period of 2011
Q3 2012 net loss increased by 130.5% to $(720,427) or $(0.01) per common share, compared to $(312,474) or $(0.01) per common share in Q3 of 2011
Invested in creating new Baby Genius® branded products geared for sale through direct-to-consumer digital markets
"The broader retail environment is transforming from being dominated by traditional brick and mortar retailers to increasing sales and distribution through daily sales sites and digital distribution. With our well-known brand and high quality, high margin products, we believe Genius Brands is perfectly suited for this new marketplace," stated Genius Brands Chairman and CEO Klaus Moeller.
"Having a growing percentage of our revenues for Genius branded products coming from direct-to-consumer digital distribution channels, such as Groupon and others, has shifted our revenue cycle this year. Due to the nature of these sites, a large portion of the seasonal holiday sales are seeing a shift from the third to the fourth quarter as products are shipped directly to the consumer and not to brick and mortar retailers," added Moeller.