Goldman Small Cap Research announced Monday after market close, that it has issued research coverage of Intertainment Media (OTCQX: ITMTF) $0.16, one of North America's leading technology incubators. Intertainment Media is focused on developing, nurturing and investing in both North American and global technologies and companies that provide technology solutions for brands and consumers alike and then monetizing the asset through spin-outs on public exchanges or outright sales.
In the Goldman Opportunity Research report on the Company, analyst Rob Goldman outlines his investment thesis.
"Intertainment Media's strategy of unlocking significant value through the public spin-out or sale of key holdings could result in hundreds of millions in market value to investors. Ortsbo, Intertainment Media's crown jewel, is likely the first spinout target. The Company's model is tried and true and should result in a series of successes. A investment in INT is akin to a rare opportunity for investors to participate in the ownership of valuable, undervalued companies before they go public, via a venture fund-class type of vehicle."
What They Do: Intertainment Media is one of Canada's leading technology incubators and is focused on developing, nurturing and investing in both North American and global technologies and companies that provide technology solutions for brands and consumers alike.
Intertainment also owns and operates a number of key properties including Ad Taffy, itiBiti (KNCTR), Ortsbo, Deal Frenzy, The Sweet Card and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com.
Premier Exhibitions (Nasdaq: PRXI) $2.37. Announced Monday after market close financial results for the second quarter ended August 31, 2012.Comparing the second fiscal quarter ending August 31, 2012 with the prior year second fiscal quarter:
Total revenue increased 63.5% to $13.4 million compared to $8.2 million in the second quarter of fiscal 2012. The growth in revenue was due to an increase in the number of exhibitions and operating days, coupled with substantially higher average attendance, and merchandise sales. These factors were offset partially by lower average ticket prices.
Gross profit increased 132.2% to $8.2 million from $3.5 million in last year's second quarter, primarily due to the increase in exhibition, merchandise and management fee revenues. In addition, gross margins improved to 61% from 42.9% in the prior year. Net income was $2.8 million, or $0.06 per diluted share, compared to a net loss of $1.8 million, or ($0.04) per diluted share in last year's second fiscal quarter. On August 31, 2012, the Company had total cash and marketable securities of $6.0 million.
What They Do: Premier Exhibitions is a major provider of museum quality exhibitions throughout the world and a recognized leader in developing and displaying unique exhibitions for education and entertainment.
Joe’s Jeans (Nasdaq: JOEZ) $1.16. Announced Monday after market close results for the third quarter ended August 31, 2012. Highlights were:
Consolidated third quarter net sales increased 25% to $30.3 million; Retail store net sales increased 24%; Retail same store sales increased 7%; Wholesale net sales increased 26%; and Operating income increased to $2.7 million for the third quarter of fiscal 2012.
For the third quarter of fiscal 2012, overall net sales were $30.3 million compared to $24.2 million from the prior year comparative period, or a 25% increase. Our overall gross profit for the quarter increased to $13.8 million from $9.7 million in the prior year comparative period, or a 42% increase. Our overall gross margin in the third quarter of fiscal 2012 was 46% compared to 40% in the prior year period. Our increase was a result of the negative impact of a $1.6 million inventory write down in the year ago period. Operating expense in the third quarter of fiscal 2012 was $11.1 million compared to $12.4 million in the prior year period.
Excluding the impact of an asset impairment charge of $1.14 million in the year ago quarter, operating expenses would have been down slightly despite the fact that we operated four more stores this year than a year ago. We generated operating income of $2.7 million compared to an operating loss of $2.6 million in the prior year comparative period.
Excluding the non-recurring charges a year ago, our operating income still increased dramatically to $2.7 million for the quarter. Fully diluted earnings per share were $0.02 for the third quarter of fiscal 2012 compared to a loss per share of $(0.03) in same period a year ago.
What They Do: Joe’s Jeans Inc. designs, produces and sells apparel and apparel-related products to the retail and premium markets under the Joe's® brand and related trademarks.
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