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Rentrak Reports 24% Revenue Rise
Multi-screen measurement specialist Rentrak has reported a 24% increase in fiscal 2014 first quarter revenue, to $28.8m from $23.2m in the same period last year. Results reflect a recovery in the Home Entertainment division combined with continued rapid growth in its AMI measurement division.
 For the quarter ended June 30, 2013, the firm's Advanced Media and Information (AMI) business grew 25% to $15.8m from $12.6m in the prior year period, while its Home Entertainment division saw 23% growth to $13.1m from $10.6m in last year's first fiscal quarter.
Within AMI, the Box Office Essentials service reported an 8% increase in revenue to $6.5m, TV Essentials' revenue climbed 52% to $5.7m, and the OnDemand Everywhere segment was up 24% to $3.6m.
Group operating expenses totalled $14.2m (compared with $12.2m for the prior year period), mainly reflecting a 10% increase in costs associated with the expansion of Rentrak's AMI business, and the addition of employees and other expenses related to growth in the company's TV business. Operating loss for the period was $1.0m - reflecting $1.4m in stock-based compensation costs and up from $644k a year previously, while net loss totalled $1.2m, compared with a net loss of $618k for the same period last year.
Adjusted EBITDA was $1.9m for the first quarter of fiscal 2014, compared with $1.7m for the first quarter of fiscal 2013.
Vice Chairman and CEO Bill Livek (pictured) comments: 'All of Rentrak's business units performed very well this quarter, as we generated the highest level of sales growth since our current management team has been in place, and the fifth consecutive quarter of year-over-year consolidated revenue growth. The hard work of our team resulted in meeting or surpassing our expectations in nearly every part of our organization.'
Web site: www.rentrak.com .
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