IDW Media Holdings, parent company of Transformers, My Little Pony / Transformers and Transformers vs. The Terminator home IDW Publishing, released its second quarter fiscal year 2020 results today with key points including a second quarter net loss per share of $(0.04) on revenue of $11.6 million for the three months ended April 30, 2020.
Anticipated from coverage on these pages in recent months, IDW Publishing posted decreased revenue from $6.3 million in 1Q20 to $4.7 million in 2Q20. While unfortunately not all employees returned to their posts after a 20% workforce reduction, “the majority of furloughed employees have since been recalled.”
From comments by IDW Chairman, Howard Jonas:
“IDW Publishing adapted to the suspension of its direct comic market with increased sales of backlisted titles, games and digital offerings through the non-direct market and direct-to-consumer channels… If operations continue to normalize in the coming weeks and months as anticipated, we are positioned to pursue the tremendous opportunities for original content producers in the global entertainment market. We remain committed to moving towards an SEC registration and exchange listing to increase IDW’s visibility in the capital markets.”
Read the full press release here, then sound off on the 2005 boards!