LONDON, UK / ACCESSWIRE / September 13, 2017 /
Pro-Trader Daily has just published a free post-earnings coverage on EVINE Live Inc. (NASDAQ: EVLV) ("EVINE"), which can be viewed by registering at http://protraderdaily.com/optin/'symbol=EVLV, following the Company's reporting of its financial results on August 23, 2017, for the second quarter of the fiscal year 2017. The Company's return rate improved 70 basis points on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
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At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on EVLV. With the links below you can directly download the report of your stock of interest free of charge at:
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Earnings Reviewed
For the three months ended July 29, 2017, EVINE's net revenue decreased 5.2% to $148.95 million from $157.14 million in Q2 FY16. For the reported quarter, the Company's return rate improved 70 basis points to 19.1% on a y-o-y basis. The improvement was due to a strong product assortment and more robust product descriptions available online, on-air, and on the phone, which resulted in decreased return rates across all categories.
During Q2 FY17, EVINE's gross profit decreased 5.6% to $56.48 million from $59.83 million in Q2 FY16. During Q2 FY17, the Company's gross margin decreased 20 basis points to 37.9% of revenue from 38.1% of revenue in Q2 FY16.
For the reported quarter, EVINE's earnings before interest, tax, depreciation, and amortization (EBITDA) decreased 24.8% to $2.18 million from $2.90 million in Q2 FY16. During Q2 FY17, the Company's adjusted EBITDA decreased 9% to $3.50 million from $3.84 million in Q2 FY16.
During Q2 FY17, EVINE's G&A expenses decreased 2.2% to $6.01 million from $5.88 million in Q2 FY16. For the reported quarter, the Company's D&A expenses decreased 15.2% to $1.68 million from $1.98 million in Q2 FY16. During Q2 FY17, EVINE's total operating expenses decreased 5.1% to $56.95 million from $60.00 million in the same period of last year. The decrease was primarily due to lower content distribution costs and overall expense discipline.
During Q2 FY17, the Company's operating loss was $471,000 compared to an operating loss of $174,000 in Q2 FY16. For the reported quarter, the Company's interest expenses decreased 18.1% to $1.31 million from $1.60 million in Q2 FY16.
During Q2 FY17, EVINE's net loss was $1.20 million compared to a net loss of $1.98 million in Q2 FY16. For the reported quarter, the Company's diluted earnings per share (EPS) was at par with negative diluted EPS of $0.03 in Q2 FY16. The diluted EPS was in-line with analysts' expectations.
Balance Sheet
As on July 29, 2017, EVINE's cash decreased 32.4% to $22.06 million from $32.65 million in Q4 FY16.
During Q2 FY17, the Company's net receivables decreased 16.4% to $82.81 million from $99.06 million in Q4 FY16.
For the reported quarter, EVINE's inventories decreased 9.2% to $63.75 million from $70.19 million in Q4 FY16. During Q2 FY17, the Company's accounts payable decreased 28.4% to $47.08 million from $65.80 million in Q4 FY16.
Outlook
For FY17, EVINE expects adjusted EBITDA to be in the range of $18 million - $22 million.
Stock Performance
On Tuesday, September 12, 2017, the stock closed the trading session flat at $1.02. A total volume of 41.34 thousand shares have exchanged hands. EVINE Live's stock price advanced 3.99% in the last one month. The stock currently has a market cap of $65.90 million.
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