Spackman's 1Q earnings plunge 93% to S$0.5m on higher expenses, lower other income

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SINGAPORE (May 14): Spackman Entertainment Group posted 93% lower 1Q18 earnings of US$0.4 million (S$0.5 million) compared to earnings of US$5.4 million a year ago on higher costs and expenses as well as lower other income.

Revenue for the quarter rose 31% to US$10.5 million from US$8 million a year ago, due mainly to higher revenue from the distribution of films and others on the recognition of the sales and distributions rights/video on demand (VOD) sales for The Outlaws by the group’s 51%-owned subsidiary, Novus Mediacorp.

Higher revenue contributions from Frame Pictures, which was acquired in Mar 2017, and maiden contributions from Constellation Agency, acquired in Jan 2018, also helped to boost topline for the quarter... (Click here to read the full story)