IPic Entertainment Inc. Reports Unaudited Consolidated Earnings Results for the Quarter Ended March 31, 2018; Provides Earnings Guidance for the Year Ending December 31, 2018
May 15, 2018 at 04:05 pm EDT
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iPic Entertainment Inc. reported unaudited consolidated earnings results for the quarter ended March 31, 2018. For the quarter, the company reported total revenues were $37,262,000 against $35,573,000 a year ago. Operating loss was $17,125,000 against $6,035,000 a year ago. Net loss before income tax expense was $21,739,000 against $9,806,000 a year ago. Net loss attributable to iPic Entertainment Inc. was $6,376,000 against $9,828,000 a year ago. Cash used in operating activities was $10,626,000 against net cash provided by operating activities was $492,000 a year ago. Purchases of property and equipment was $3,570,000 against $7,942,000 a year ago. EBITDA was $12,285,000 against $1,317,000 a year ago. Adjusted EBITDA was $1,226,000 against Adjusted LBITDA of $41,000 a year ago.
For the year ending December 31, 2018, the company continues to expect total revenue growth is expected to be in the range of 3% to 7%. Comparable-store sales growth of 0% to +5%.
Store-level EBITDA, a non-GAAP measure, of $17.0 million to $18.0 million. Adjusted EBITDA, a non-GAAP measure, loss of $1.5 million to $0.5 million, reflecting a substantial improvement from full year 2017. Capital expenditures of $20 million to $25 million, net of tenant.
Ipic Entertainment Inc is a United States-based company. The Company is focused on providing casual restaurant, a farm to glass service bar, and theater auditoriums. The Company provides venues for private events, family and business functions and other corporate sponsored events. The Company has three different formats of iPic locations, such as Generation I locations, Generation Ii locations, and Generation III locations. The Company operates five different and distinct restaurant brands including City Perch Kitchen + Bar, Tanzy, The Tuck Room, The Tuck Room Tavern, and iPic Express.
IPic Entertainment Inc. Reports Unaudited Consolidated Earnings Results for the Quarter Ended March 31, 2018; Provides Earnings Guidance for the Year Ending December 31, 2018