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Consolidated Statements of Operations (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
REVENUES        
Publishing $ 15,781 $ 19,401 $ 57,516 $ 68,073
Merchandising 13,691 14,153 41,494 41,776
Broadcasting 139 294 1,489 3,421
Total revenues 29,611 [1] 33,848 100,499 [1] 113,270
Production, distribution and editorial (13,988) (16,579) (44,697) (56,332)
Selling and promotion (9,081) (10,401) (27,343) (32,348)
General and administrative (9,259) (10,097) (27,254) (31,456)
Depreciation and amortization (783) (847) (4,651) (2,940)
Impairment of trademark and goodwill (11,350) 0 (11,350) 0
Restructuring charges 0 0 0 (675) [2]
Gain on sale of subscriber list, net 0 0 0 2,724
OPERATING LOSS (14,850) (4,076) (14,796) (7,757)
Interest income / (expense) and other, net 52 118 (513) 85
LOSS BEFORE INCOME TAXES (14,798) (3,958) (15,309) (7,672)
Income tax benefit / (provision) 3,733 (337) 3,408 (1,076)
NET LOSS $ (11,065) $ (4,295) $ (11,901) $ (8,748)
LOSS PER SHARE – BASIC AND DILUTED        
Net loss (in usd per share) $ (0.19) $ (0.06) $ (0.21) $ (0.13)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING        
Basic and diluted (in shares) 57,074,872 67,490,820 56,908,036 67,366,285
[1] * Included in revenues is the pro rata recognition of non-cash revenue that resulted from the return of 11 million shares of the Company's Class A Common Stock from J.C. Penney in October 2013 pursuant to a contract amendment with J.C. Penney, which resulted in an initial increase to deferred revenue of $24.9 million that is recognized ratably as non-cash revenue through June 30, 2017. For the three and nine months ended September 30, 2014, these non-cash revenues totaled $1.7 million and $5.0 million, respectively.
[2] ** As disclosed on the Company's Consolidated Statements of Cash Flows, total non-cash equity compensation expense was $1.4 million during the nine months ended September 30, 2013. Included in non-cash equity compensation expense were net reversals of expense of approximately $0.03 million, which was generated in connection with restructuring activities. Accordingly, these amounts are reflected as restructuring charges in the Company's 2013 Consolidated Statements of Operations.