Acorn International Q4 revenues increased 21.9%Christian Fernsby ▼ | March 13, 2020
Acorn International yesterday announced its preliminary unaudited financial results for the fourth quarter ended December 31, 2019.
Acorn International Net revenues increased 21.9% year over year in Q4 2019 to US$9.1 million
Topics: Acorn International
Net revenues increased 21.9% year over year in Q4 2019 to US$9.1 million.
Gross profit rose 16.8% year over year in Q4 2019 to US$6.3 million.
Gross margin was 68.8% in Q4 2019, compared to 71.8% in Q4 2018.
Income from continuing operations was US$0.4 million in Q4 2019, compared to US$1.6 million in Q4 2018.
Net income was US$1.7 million in Q4 2019 as compared to net income of US$3.7 million in Q4 2018. In Q4 2019, the Company recorded a $1.3 million gain from the sale of its subsidiary Zhuhai Acorn Electronic Technology. The year ago period includes a US$2.0 million gain from the sale of the company's Bright Rainbow Investments subsidiary. ■