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Reald Inc. (RLD) SEC Filing 10-Q Quarterly report for the period ending Wednesday, December 31, 2014

Reald Inc.

CIK: 1327471 Ticker: RLD

Exhibit 99.1

 

 

 

RealD Inc. Reports Third Quarter Fiscal Year 2015 Financial Results;

 

Board Initiates Process to Review Strategic Alternatives for the Company

 

 

LOS ANGELES (February 9, 2015) - Global visual technology company RealD Inc. (NYSE: RLD) today announced financial results for its third quarter of fiscal 2015 ended December 31, 2014.  In addition, RealD today announced its Board of Directors has initiated a process to explore a full range of strategic alternatives with the goal of enhancing value for all shareholders.

 

The Company has engaged Moelis & Company LLC as its financial advisor to assist in its evaluation of potential strategic alternatives. The Company noted that there can be no assurance that the strategic alternatives process will result in the Company pursuing a particular transaction or completing any such transaction. The Company has not set a definitive timetable for completion of the process and does not intend to disclose further developments until its Board of Directors approves a specific action or otherwise concludes the review of the strategic alternatives.

 

“Over the past 18 months, we have undertaken a series of actions that have further optimized our platform, driven significant reductions in our operating expenditures and enhanced our financial performance,” commented Michael V. Lewis, Chairman and Chief Executive Officer of RealD.  “The Board’s decision to commence a strategic alternatives process is a logical next step in our ongoing effort to unlock value for RealD shareholders.  While the operational and financial actions we have taken thus far are beginning to show results, we believe that a full review of strategic alternatives will allow us to determine the best path forward for RealD and our shareholders.”

 

Mr. Lewis continued, “We remain firmly committed to optimizing our performance and growing our business. We have a robust IP portfolio, the leading 3D cinema platform worldwide, consisting of over 26,000 screens, and an exciting 2015 and 2016 film slate.”

 

 

Third Quarter Fiscal 2015 Financial Highlights

 

·                 Total revenue was $32.6 million, comprised of license revenue of $21.0 million and product and other revenue of $11.6 million. For the third quarter of fiscal 2014, total revenue was $55.4 million, comprised of license revenue of $35.6 million and product and other revenue of $19.8 million.

 

·                 China license revenue represented 20% of total worldwide license revenue, up from 15% for the third fiscal quarter of 2014.

 

·                 GAAP net loss attributable to common stockholders was $11.3 million, or $0.23 per diluted share, compared to GAAP net loss attributable to common stockholders of $0.3 million, or $0.01 per diluted share, for the third quarter of fiscal 2014.

 

·                 Adjusted EBITDA was $8.1 million, compared to $21.3 million in the third quarter of fiscal 2014.

 

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The following information was filed by Reald Inc. (RLD) on Monday, February 9, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (loss)
Condensed Consolidated Statements Of Operations
2014 Cost Reduction Plan
2014 Cost Reduction Plan (details 2)
2014 Cost Reduction Plan (details)
2014 Cost Reduction Plan (tables)
Borrowings
Borrowings (details 2)
Borrowings (details 3)
Borrowings (details)
Borrowings (tables)
Business And Basis Of Presentation
Cinema Systems And Property & Equipment
Cinema Systems And Property & Equipment (details)
Cinema Systems And Property & Equipment (tables)
Commitments And Contingencies
Commitments And Contingencies (details)
Effect Of Certain Correction On Certain Financial Statements
Effect Of Certain Correction On Certain Financial Statements (tables)
Effect Of Certain Correction On Certain Financial Statements Balance Sheet (details)
Effect Of Certain Correction On Certain Financial Statements Cash Flows (details)
Effect Of Certain Correction On Certain Financial Statements Income Statement (details)
Equity
Equity (details)
Equity (tables)
Fair Value Measurement
Fair Value Measurement (details)
Fair Value Measurement (tables)
Income Taxes
Income Taxes (details)
Share-based Compensation
Share-based Compensation (details 2)
Share-based Compensation (details)
Share-based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Ticker: RLD
CIK: 1327471
Form Type: 10-Q Quarterly Report
Accession Number: 0001327471-15-000004
Submitted to the SEC: Mon Feb 09 2015 5:32:52 PM EST
Accepted by the SEC: Tue Feb 10 2015
Period: Wednesday, December 31, 2014
Industry: Radio And Tv Broadcasting And Communications Equipment

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