Evine Live Continues To Expect Slightly Positive Sales For FY17 - Quick Facts

(RTTNews) - Evine Live Inc. (EVLV) announced, for fiscal 2017, the company continues to expect slightly positive sales and adjusted EBITDA to be in the $18 to $22 million range, which would be growth of 11% to 36% year over year. The company noted that these results include a 53rd week in fiscal 2017.

For second-quarter, Evine expects revenues to decline 3% to 5%, which reflects management's continued rebalancing of the company's merchandising mix to reduce low margin consumer electronics that began back in the second quarter of 2016. From a profitability perspective, management expects the company to post net income and EPS that is in line with prior year's second-quarter results.

CEO, Bob Rosenblatt, said: "Our 2017 growth strategy remains focused on building proprietary and exclusive brands as well as using our national multi-platform distribution to showcase lesser known compelling brands that cannot replicate our kind of reach in today's retail landscape. Our team finds the brands and helps tell their stories in a way only interactive video commerce can do."

For first-quarter, the company posted a net loss of $3.2 million, a 35% improvement year-over-year, a loss per share of $0.05, a 44% improvement. Adjusted EBITDA was $3.1 million, an 11% decrease from last year. Net sales were $156 million, a 6.3% decrease from prior year.