Earnings Review and Free Research Report: Eros International Reported Better Than Expected Revenue

LONDON, UK / ACCESSWIRE / October 17, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Eros International PLC (NYSE: EROS) ("Eros"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=EROS, following the Company's announcement of its financial results on October 06, 2017, for the first quarter of the fiscal year 2018. The Company's operating income increased 62.8% 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 EROS. 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 June 30, 2017, Eros' total revenue decreased 14.4% to $60.83 million from $71.10 million in Q1 FY17. The total revenue surpassed analysts' expectations of $52.8 million.

For the reported quarter, the Company's theatrical revenues decreased 36.9% to $23.6 million from $37.4 million in Q1 FY17. The decrease was due to a lower number of films, especially high and medium budget Hindi films. During Q1 FY18, Eros' aggregate revenues from television syndication decreased 11.2% to $17.4 million from $19.6 million in the same period of last year. The decline was due to lower new release television revenues, partially offset by catalogue revenues. For the three months ended June 30, 2017, the Company's aggregate revenues from digital and ancillary increased 40.4% to $19.8 million on a y-o-y basis.

During Q1 FY18, Eros' revenue from India operations decreased 40.6% to $25.37 million on a y-o-y basis and revenue from Europe operations increased 114.3% to $9.57 million on a y-o-y basis. For the reported quarter, the Company's North American revenue was $180,000 compared to $1.41 million in Q1 FY17.

For the reported quarter, the Company's gross profit increased 12.1% to $25.88 million from $23.09 million in Q1 FY17. During Q1 FY18, Eros' gross margin increased 100 basis points to 42.5% of revenue from 32.5% of revenue in Q1 FY17.

During Q1 FY18, the Company's earnings before interest, tax, depreciation, and amortization (EBITDA) increased 6.7% to $10.80 million from $10.12 million in Q1 FY17. For the reported quarter, Eros' adjusted EBITDA decreased 12.7% to $15.81 million from $18.13 million in Q1 FY17. For the reported quarter, the Company's adjusted EBITDA margin increased 50 basis points to 25.9% of revenue from 25.4% of revenue in Q1 FY17.

During Q1 FY18, Eros' administrative expenses decreased 10.8% to $14.19 million from $15.91 million in the same period of last year, due to a decrease in share-based compensation.

For the reported quarter, Eros' operating income increased 62.8% to $11.69 million from $7.18 million in Q1 FY17. For the reported quarter, the Company's operating margin increased 920 basis points to 19.2% of revenue from 10% of revenue in Q1 FY17.

During Q1 FY18, the Company's effective tax rate was 24.4% compared to 18.3% in Q1 FY17.

During Q1 FY18, Eros' net income decreased 47.7% to $1.80 million from $3.44 million in Q1 FY17. For the reported quarter, the Company's diluted earnings per share (EPS) was negative $0.02 compared to positive $0.03 in Q1 FY17. The diluted EPS was below analysts' expectations of positive $0.03.

As of September 30, 2017, Eros Now's paying subscribers increased to 3.7 million from 2.9 million as of June 30, 2017.

Balance Sheet

As on June 30, 2017, Eros' cash and cash equivalents increased 2.1% to $114.72 million from $112.27 million as on March 31, 2017.

During Q1 FY18, the Company's trade and other receivables decreased 15.5% to $280.50 million from $242.76 million in Q4 FY17.

For the reported quarter, Eros' inventories increased 54.2% to $330,000 from $214,000 in Q4 FY17.

As on June 30, 2017, the Company's total assets increased 1.8% to $1.37 billion from $1.34 billion in Q4 FY17.

For the reported quarter, Eros' long-term borrowing decreased 4 basis points to $89.80 million from $89.84 million in Q4 FY17.

During Q1 FY18, the Company's cash provided by operating activities increased 48.9% to $28.15 million from $18.90 million in the same period of last year.

Stock Performance

On Monday, October 16, 2017, the stock closed the trading session at $14.55, slipping 1.36% from its previous closing price of $14.75. A total volume of 349.64 thousand shares have exchanged hands. Eros Intl.'s stock price soared 9.81% in the last one month, 11.49% in the past three months, and 50.78% in the previous six months. Furthermore, since the start of the year, shares of the Company have surged 11.49%. The stock is trading at a PE ratio of 250.86 and currently has a market cap of $853.21 million.

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