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(MM)

(MM) (VVTV)

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VVTV News

Official News Only

VVTV Discussion

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SwingTrayda SwingTrayda 10 years ago
Well, looks like the Clinton Group is going to be shaking things up for VVTV.
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Wishful Thinking Wishful Thinking 11 years ago
Anyone catch $BRGO on shopNBC last night?! Beautiful stuff and just the beginning.
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Wishful Thinking Wishful Thinking 11 years ago
Can't wait to see what shopNBC is all about, Bergio in the spotlight tonight!

GL all
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Krony Krony 11 years ago
ShopNBC(VVTV) is proud to debut a 14 piece collection of Bergio items: bracelets, rings, earrings, and pendants, at 6PM EDT! CEO Berge Abajian expects a quick sellout. Ticker symbol: BRGO
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EmptyBones EmptyBones 11 years ago
Krony thx for sharing that is a great stock and news....
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Krony Krony 11 years ago
Bergio products are now on sale on ShopNBC(VVTV). Beautiful items at affordable prices. Official launch is Tuesday 5/7 at 6PM but you can go on www.shopnbc.com now and search under Bergio.

Ticker symbol: BRGO
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Rick026 Rick026 11 years ago
come check out BRGO!!!!!!!!!! will air nbc may 7th!!!!
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Krony Krony 11 years ago
Yessir, this will be an awesome partnership between these two great companies! BRGO and VVTV, perfect together!
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holsh holsh 11 years ago
BOOOOOOOOOOOOOOOOOOOOMMMMMMMMMMMMMMMMMMM BRGO and VVTV putting it down together
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Krony Krony 11 years ago
Acclaimed jeweler Berge Abajian will be launching his enchanting Bergio line on VVTV's ShopNBC on Tuesday, May 7th at 6PM. The network is broadcast into over 82 million homes across the United States through cable affiliates and satellite, including Comcast, Optimum, Dish Network, DirecTV and Verizon Fios in addition to offering a live stream on their website www.shopnbc.com. Mr Abajian himself will launch the brand, which will feature beautiful pieces in affordable price ranges from $89-189. Mr. Abajian expects a fast sellout of the collection. Stock ticker symbol: BRGO.
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willmakeitrain willmakeitrain 11 years ago
i thinkin so---NBC must be pleased--betting they have taken notice-probably already booking the 2nd scheduled program..lol

i would if something was already sellin out--no brainer--REVS ARE REVS
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Krony Krony 11 years ago
Agree willmakeitrain! Bergio jewelry looks like it's off to a great start on VVTV! Makes the union of BRGO with VVTV a profitable one for both!
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willmakeitrain willmakeitrain 11 years ago
seems a ton of Berg jewelry has already sold out on the website..wow!---REV's for VVTV
i bet VVTV is lovin this in program with a great small company coming to the spotlight!--ticker symbol BRGO
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willmakeitrain willmakeitrain 11 years ago
I believe this program will do wonders for both VVTV and BRGO ...BRGO always chooses class act companies to work with
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Krony Krony 11 years ago
VVTV's ShopNBC will be launching a collection by acclaimed jeweler Berge Abajian, whose Bergio International sells luxury jewelry through such chains as Ultra Diamonds, Russian Estet House, and Neiman Marcus. The launch will take place on 5/7 at 6PM EDT on ShopNBC's TV channels and online marketplace. Price point will be a special $89-189 for the magnificent collection and Mr. Abajian expects a fast sellout of the launch. Bergio's ticker symbol: BRGO
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txyoungmoney txyoungmoney 11 years ago
Great find. Definitely something good to look at. On both sides VVTV & BRGO will benefit here.
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flyingmonkey747 flyingmonkey747 11 years ago
Keepin on watch
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willmakeitrain willmakeitrain 11 years ago
nice krony----excellent DD VVTV
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Krony Krony 11 years ago
Folks may want to check this out, will be launching on VVTV on 5/7 at 6PM:

Bergio International Expanding Into ShopNBC


Bergio International, Inc. (OTCQB: BRGO) announced today they are expanding the brand into ShopNBC, a major television shopping network for high end jewelry and other luxury goods, beginning May 7th, 2013.
Bergio International came to a contractual agreement with ShopNBC on October 4th, 2012. ShopNBC is a multichannel electronic retailer which has a strong presence in home shopping via television as well as other avenues such as online, mobile, and social media. The network is broadcast into over 82 million homes across the United States through cable affiliates and satellite, including Comcast, Optimum, Dish Network, DirecTV and Verizon Fios in addition to offering a live stream on their website www.shopnbc.com.

ShopNBC reported revenues of $587 million for the year of 2012. As of 2012, the company reported a noticeable increase in jewelry sales. Sales of Jewelry & Watches, along with Health & Beauty, Home and Fashion & Accessories has recently grown over 12% within the past year.

Berge Abajian, CEO of Bergio, stated, "The execution of this launch took longer than originally anticipated due to the modification of certain designs to best fit the ShopNBC customer demographic. This launch will further the brand to different avenues which we did not have prior access to."

He continued, "I encourage all shareholders to support us by watching and referring others to the broadcast on May 7th, where I will personally be featured on the program as the designer. By doing so, we hope to sell out quickly and have a successful launch. Please refer to the program guide on www.shopnbc.com to find out when it will be aired, which is usually posted a week prior to the broadcast."

He added, "We also have other opportunities currently in the works, which will be revealed once the final details have been ironed out."

About Bergio International, Inc.

Bergio International, Inc. a leading jeweler creating a diversified jewelry designer and manufacturer through acquisitions and consolidation in the estimated $160 billion a year highly fragmented independently owned jewelry industry. Bergio currently sells its jewelry to approximately 50 jewelry retailers across the United States. Bergio has manufacturing control over its line through its manufacturing facility in New Jersey, as well as subcontracts with facilities in the United States and Italy.
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LMPA LMPA 11 years ago
Lots of insider buys..

http://www.secform4.com/insider-trading/870826.htm

will bode well for BRGO

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JediTechTrader JediTechTrader 11 years ago
Curious to why VVTV wasn't tagged in this pr but launch is may 7th @ 6pm. VVTV partnership with BRGO

Worth taking a look at. Imo I would foresee some news being tagged together in the future especially after the launch.

Bergio International Expanding Into ShopNBC


Bergio International, Inc. (OTCQB: BRGO) announced today they are expanding the brand into ShopNBC, a major television shopping network for high end jewelry and other luxury goods, beginning May 7th, 2013.
Bergio International came to a contractual agreement with ShopNBC on October 4th, 2012. ShopNBC is a multichannel electronic retailer which has a strong presence in home shopping via television as well as other avenues such as online, mobile, and social media. The network is broadcast into over 82 million homes across the United States through cable affiliates and satellite, including Comcast, Optimum, Dish Network, DirecTV and Verizon Fios in addition to offering a live stream on their website www.shopnbc.com.

ShopNBC reported revenues of $587 million for the year of 2012. As of 2012, the company reported a noticeable increase in jewelry sales. Sales of Jewelry & Watches, along with Health & Beauty, Home and Fashion & Accessories has recently grown over 12% within the past year.

Berge Abajian, CEO of Bergio, stated, "The execution of this launch took longer than originally anticipated due to the modification of certain designs to best fit the ShopNBC customer demographic. This launch will further the brand to different avenues which we did not have prior access to."

He continued, "I encourage all shareholders to support us by watching and referring others to the broadcast on May 7th, where I will personally be featured on the program as the designer. By doing so, we hope to sell out quickly and have a successful launch. Please refer to the program guide on www.shopnbc.com to find out when it will be aired, which is usually posted a week prior to the broadcast."

He added, "We also have other opportunities currently in the works, which will be revealed once the final details have been ironed out."

About Bergio International, Inc.

Bergio International, Inc. a leading jeweler creating a diversified jewelry designer and manufacturer through acquisitions and consolidation in the estimated $160 billion a year highly fragmented independently owned jewelry industry. Bergio currently sells its jewelry to approximately 50 jewelry retailers across the United States. Bergio has manufacturing control over its line through its manufacturing facility in New Jersey, as well as subcontracts with facilities in the United States and Italy.
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Mactheriverrat Mactheriverrat 11 years ago
Looking for a break put here-

VVTV Chart
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BiotechMoney18 BiotechMoney18 11 years ago
Very nice pop from the chart watchlist.

@BiotechMoney18
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Maliszewski20 Maliszewski20 11 years ago
vvtv strong buy. broke resistance today. next leg up ++++ booming industry
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RickKayne RickKayne 11 years ago
Anyone following this?
What's the short term target.
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bks6 bks6 12 years ago
With earnings report due Thursday am, can this stock come back from the dead? Heavy volume today and a descent gain so far.
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SexyStox SexyStox 12 years ago
test
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hodahaface hodahaface 13 years ago
Is this stock dying?
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S3lfMade S3lfMade 14 years ago
nice day here. $125m on earnings report. grant it thats not profit but the company is sure slinging around some serious cash
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sidhe_south sidhe_south 14 years ago
anyone guess what comcast takeover means for vvtv?

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abnpayne abnpayne 14 years ago
1400% up from my last post... 450% up from yours... ;)sniff sniff
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Tron84 Tron84 15 years ago
President and CEO keeps buying shares!!
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CaptainJim CaptainJim 15 years ago
WOW, I remember trading this one Years Ago !!
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abnpayne abnpayne 15 years ago
Amendments to Articles of Inc. or Bylaws; Change in Fiscal Year

http://biz.yahoo.com/e/090227/vvtv8-k.html

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal
Year.
On February 26, 2009, the Company filed with the Secretary of State of the State of Minnesota a Statement of Cancellation of Certificate of Designation of Series A Redeemable Convertible Preferred Stock (the "Statement of Cancellation"). The Statement of Cancellation causes the 5,399,500 shares previously designated as Series A Redeemable Convertible Preferred Stock to have the status of authorized but unissued, undesignated shares. Item 9.01 Financial Statements and Exhibits.
3.1 Statement of Cancellation of Certificate of Designation of Series A Redeemable Convertible Preferred Stock dated February 26, 2009.
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abnpayne abnpayne 15 years ago
ShopNBC Announces Agreement to Restructure GE Preferred Stock
Wednesday February 25, 4:01 pm ET
Company Approves Stock Buyback

http://biz.yahoo.com/iw/090225/0477404.html

MINNEAPOLIS, MN--(MARKET WIRE)--Feb 25, 2009 -- ShopNBC (NasdaqGM:VVTV - News), the premium lifestyle brand in electronic retailing, today announced an agreement with GE to restructure and extend its $44.3 million payment obligation under the Series A Redeemable Convertible Preferred Stock, currently held by GE and scheduled to mature in the spring of 2009.

As part of the agreement, GE agreed to exchange all of its Series A Redeemable Convertible Preferred Stock for the following:


-- An upfront cash payment of $3.4 million;
-- 4.9 million shares of a new series of non-convertible redeemable
preferred stock with a redemption amount of $40.9 million and a 12%
dividend rate, payable in 2013 and 2014;
-- Repayment of the preferred stock is scheduled for 30% in 2013 and the
remainder in 2014 with accelerated payments possible only if ShopNBC
generates excess cash above agreed upon thresholds; and
-- Warrants to purchase 6 million shares of the company's common stock at
$0.75 per share.

ADVERTISEMENT

"We are very pleased to have reached an agreement to extend our payment obligation by five years," said John Buck, ShopNBC's Chairman of the Board. "This transaction gives us the necessary time, flexibility, and financial resources to execute the turnaround of our business."

The company also announced its board of directors authorized a common stock buyback of up to $1.5 million over the next 12 months. The timing and amount of any repurchases will be determined by management based on an evaluation of market conditions and other factors. The buyback will be funded through existing cash balances.

About ShopNBC

ShopNBC is a multi-channel electronic retailer operating with a premium lifestyle brand. The shopping network reaches 72 million homes in the United States via cable affiliates and satellite: DISH Network channels 134 and 228 and DIRECTV channel 316. www.ShopNBC.com is recognized as a top e-commerce site. ShopNBC is owned and operated by ValueVision Media (NasdaqGM:VVTV - News). For more information, please visit www.ShopNBC.com/IR.
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abnpayne abnpayne 15 years ago
50 day MA on deck tomorrow :O
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wesley_ wesley_ 15 years ago
nice break out here... 0.30+
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wesley_ wesley_ 15 years ago
may be she has bottomed out in the last days... we will see
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wesley_ wesley_ 15 years ago
nice buying action on the ask .249/.25
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wesley_ wesley_ 15 years ago
nice volume today and up she goes...
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makesumgravy makesumgravy 15 years ago
No ShopNBC Sale Coming; 4Q Results Seen Falling Sharply
Date : 01/27/2009 @ 10:12AM
Source : Dow Jones News
Stock : ValueVision Media Inc. (Cl A) (VVTV)
Quote : 0.2038 -0.0162 (-7.36%) @ 2:23PM


No ShopNBC Sale Coming; 4Q Results Seen Falling Sharply





DOW JONES NEWSWIRES

ShopNBC said will continue to try and stay in business after being unable to find a buyer as the television-shopping network promoted President Keith Stewart to chief executive and sees sharply weaker results for this quarter.

The company, owned and operated by ValueVision Media Inc. (VVTV), in September began reviewing its options as sales continued to sag. Its shares slumped 19% in early trading to 42 cents; the stock is down 92% the past year.

ShopNBC said Tuesday that while there was interest in buying or entering into other relationships with the company, no one submitted a final bid amid the market turmoil, woes in the retail industry and the possible redemption of convertible stock by General Electric Co. (GE). ShopNBC currently has to pay $44.3 million to GE this spring, and talks to extend and restructure the deal are ongoing.

At the same time, the board considered liquidating the company and distribution assets to shareholders. But a board committee determined shareholders would likely not see anything from a liquidation.

So, the company is enacting new strategies, including cutting its cable- and satellite-transmission fees, which may reduce the number of homes the network is currently seen in, while Chairman John Buck gives up day-to-day control of the company. ShopNBC is available in 72 million homes and the transmission fees make up half of the company's operating expenses.

Meanwhile, ShopNBC projected fiscal fourth-quarter revenue at about $142 million, down 35%, amid lower average selling prices. The net loss for the quarter ending this week is expected to balloon to $40 million from $1 million. The company cut 11% of its salaried work force during the quarter; it had about 850 employees in total.

In addition, inventory is down 35%.

-By Kevin Kingsbury, Dow Jones Newswires; 201-938-2136; kevin.kingsbury@dowjones.com

Click here to go to Dow Jones NewsPlus, a web front page of today's most important business and market news, analysis and commentary. You can use this link on the day this article is published and the following day.




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makesumgravy makesumgravy 15 years ago
ShopNBC cuts 60 jobs, mostly in MN

http://twincities.bizjournals.com/twincities/stories/2009/01/05/daily28.html?ana=yfcpc
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makesumgravy makesumgravy 15 years ago
http://finance.yahoo.com/news/ShopNBC-Announces-Cost-iw-13995273.html
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makesumgravy makesumgravy 15 years ago
4 Risks Related to Uncertainty in ValueVision
by: Jae Jun December 19, 2008 | about stocks: VVTV
Jae Jun
This This post is an update to ValueVision Inc (VVTV) according to the latest 10-Q filing on Dec 11, 2008.

Click here to read the first post on VVTV to get the background information and valuation numbers as I will be skipping some sections that I feel have not changed.

Business Developments
As hoped, VVTV is now planning to sell itself as one of its strategic options. Considering the business, competition, environment and management including the board, this is a good move. There hasn’t been any further news relating to this sale, but it seems like there are interested buyers out there.

Growth Strategy
As I stated in the previous post, my reason for looking into ValueVision is based on the assumption that the company is sold off or liquidated. I am therefore assuming the entire retail business will provide 0% growth for the business, however, I am not implying they won’t be making any money off retail. The cash from retail should just cover their high fixed operating costs.

The growth strategy and my thoughts remain the same as the previous post.

Risks
Although the current price has probably factored in most of the information, a downside risk still remains. The risk related to uncertainty aspects includes:

High management turnover and lack of leadership
GE Equity redeemable preferred stock redemption date of March 8, 2009
Failure to sell itself to potential buyers
Renegotiation of cable contracts which is due to expire on Dec 31, 2008
Financial Statement Updated Numbers
The 3rd quarter numbers are compared to the previous quarter rather than a year ago, as a one year comparison does not provide a good indication of the business at the moment.

My perspective is that the balance sheet is clean, but the future is bleak and uncertain.

Numbers compared to the previous quarter:

Balance Sheet

Cash & Equivalents up 15.6%
Short term investments down 54.3%
Accounts receivables down 22.5%
Inventories up 26.7%
Accounts payable up 59.8%
Total current liabilities up 29.7%
increase due to accounts payable
Income Statement

Net sales down 12%
Cost of Sales down 13%
Sales and COGS are both down the same amount which is a good thing from an accounting point of view. If sales goes down but COGS goes up, that is a big warning sign for accounting manipulation.
CEO transition cost of $1.8 million. Statements mention it is a one off charge, but it seems like this line is often added as CEO turnover rate is very high. If management stabilizes, about $0.06 per share should be added back to net income.
Other expenses came up as $969,000, which is due to selling securities at a loss. No cash taken out of the back to pay for this expense.
Statement of Cash Flows

Collection of accounts receivables up 23%
Cash used for inventory up 62% but still positive
Cash from operations up 66%
Cash increase of 16%
Valuation
With the numbers from the 3rd quarter statement, valuation numbers have been updated from the previous post.

Sales from Full Time Equivalent households (FTE; households receiving 24hr programming)
Net Net Working Capital and tangible assets
Sales Per FTE

A quick way to look at VVTV is by their net sales per FTE. VVTV reaches 72 million households with the average net sales being $6.92 per household, down from $7.92 in the previous quarter. But we took this into consideration last time by assuming a drastic consumer contraction and took a low, yet possible number of $4 net sales per household. This still yields a value of $288 million (4×72=288) to the network, which is now 21 times more than its current $13.46 million market cap.

Net Net Working Capital and Tangible Assets

Net Net Working Capital = Cash and short-term investments + (0.75 * accounts receivable) + (0.5 * inventory) - total liabilities

(Value in millions except share price) 7-Nov 17-Dec
Cash and short term equivalents $59.72 $56.44
75% of Accounts receivable $41.98 $32.38
50% of Inventory $27.82 $35.26
Total Liabilities $73.97 $93.17
NNWC $55.55 mil /$1.65 per share
$30.92 mil /$0.92 per share

(Valuable assets)
FCC (Boston TV station) $31.94 $31.94
NBC License Agreement $8.99 $8.19
Property $20.00 $20.00
Assets + NNWC $116.48 mil /$3.47 per share $91.05 mil /$2.71 per share
Diluted shares outstanding 33.57 33.59
Market Cap $17.80 $13.46
Share price $0.53 $0.40

ValueVision is currently being sold for 43% of its NNWC value compared to 32% for last quarter. The NNWC per share value is now $0.92 compared to the stock price of $0.40.

However, the NNWC does not include ValueVision’s main assets which is its FCC license, NBC license and its owned property.

Let’s assume the property of ValueVision was affected by the housing crisis by 20%, with the reason given in the first post. The office real estate in Minnesota is then given a value of $20 million. Add in the FCC, NBC license and property to NNWC to get a value of $2.71 per share. The current price is still 15% to its NNWC and asset value.

However, one thing we should consider is that this price only applies if the company is sold this instant. Cash, inventory, receivables and liabilities are variable which can either increase the NNWC or reduce it.

Therefore, if we look at a value that is independent of these liquid assets by only considering its licenses and buildings, a hard conservative value is $60.13 million which is still 4.4x more than its current market price.

Conclusion
The NNWC value has decreased, but the underlying assets still remain the same. There are no alarming indicators in the statements and the 66% margin of safety I applied before purchasing has cushioned the recent price decline but still allows for a very good potential reward.

However, before making a purchase, consider the additional risks outlined above.

Disclosure: I hold positions of VVTV at the time of writing
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makesumgravy makesumgravy 15 years ago
MINNEAPOLIS, MN -- (Marketwire) -- 08/22/08 -- ShopNBC (NASDAQ: VVTV), a 24-hour TV shopping network, today announced financial results for its second fiscal quarter ended August 2, 2008.

Second Quarter Results

Second quarter revenues were $142 million, a 26% decrease from the same period last year. EBITDA, as adjusted, was ($10.7) million compared with $1.8 million in the year-ago period. Net Loss for the second quarter was ($15.7) million compared with a net loss of ($5.4) million for the same quarter last year.

"Revenues in the second quarter were very disappointing," said John Buck, ShopNBC's CEO. "The Board fully recognizes these performance issues, and we are taking decisive action to address these trends."

Leadership Changes

As announced in a separate press release the Company issued earlier today, ShopNBC's Board of Directors concluded it was necessary to make organizational leadership changes that are effective immediately. The Board appointed John D. Buck to serve as Chief Executive Officer replacing Rene Aiu, who joined the Company as President and CEO in March 2008 and is leaving ShopNBC and its Board. Mr. Buck is currently Executive Chairman and was previously ShopNBC's Interim CEO from November 2007 to March 2008. The Company also announced the departures of Glenn Leidahl, COO, Terry Curtis, SVP of Customer Analytics and Sales Planning, and John Gunder, SVP of Media & On-air Sales, who were named to their positions in April 2008.

The Board also appointed Keith R. Stewart, with 20 years of executive retail experience, as President and Chief Operating Officer of the Company. Buck commented, "Keith has excellent leadership skills, a deep understanding of retail operations domestically and internationally and, importantly, nearly 15 years of experience in home shopping as an executive at QVC. He possesses a strong understanding of multi-channel retailing and has a proven history of delivering growth and profitability spanning markets in the United States and Germany."

Second Quarter Highlights

The Company noted that in the second quarter:


-- ShopNBC.com launched several live Webcasts to aggressively reach new
customers and drive incremental sales by capitalizing on its strong niche
categories, such as watches and coins.
-- It appointed Kris Kulesza, a retail executive with 23 years of
experience and nearly a decade in home shopping, as Senior Vice President
and Chief Merchant; and Jeff Lewis, a customer service executive with 25
years of leadership experience in retail and direct marketing, as Vice
President of Customer Experience.
-- It continued disciplined control of operating expenses, which were
down year-over-year by 11% in the quarter, driven by headcount and other
fixed overhead reductions.
-- It maintained a strong balance sheet with over $80 million in cash and
securities.
-- It recently signed an extended carriage agreement with one of the top
five cable providers and continues to work on preserving its cable
distribution base while lowering distribution costs.

Business Outlook

"ShopNBC has undergone significant changes this past year," said Buck. "We greatly appreciate the support and patience of our shareholders. Despite these challenging times, ShopNBC made progress in the second quarter in its cable negotiations, diversifying its merchandise mix with newness, and continued success of our e-commerce business. ShopNBC is a great company with strong underlying assets supported by a talented and dedicated employee base and excellent growth potential.

"We are encouraged by these signs of progress. I look forward to working with Keith and the rest of our talented management team to improve performance that will enable us to deliver long-term shareholder value. Given the changes being implemented at the Company, we have decided not to provide guidance at this time."

Conference Call Information

The Company has re-scheduled its conference call for 11 a.m. EDT / 10 a.m. CDT on Monday, August 25, 2008, to discuss the results for the fiscal second quarter. To participate, please dial 1-800-857-9866 (pass code SHOPNBC) five to ten minutes prior to the start time. A replay of the call will be available for 30 days. To access the replay, please dial 1-866-455-0459 (pass code SHOPNBC). You may also participate via live audio stream by logging on to https://e-meetings.verizonbusiness.com. To access the audio stream, please use conference number 6203440 (pass code SHOPNBC). A rebroadcast of the audio stream will be available using the same access information for 30 days after the initial broadcast.

EBITDA and EBITDA, as adjusted

The Company defines EBITDA as net income (loss) from continuing operations for the respective periods excluding depreciation and amortization expense, interest income (expense) and income taxes. The Company defines EBITDA, as adjusted, as EBITDA excluding non-recurring non-operating gains (losses) and equity in income of Ralph Lauren Media, LLC; non-recurring restructuring and CEO transition costs; and non-cash share-based payment expense. Management has included the term EBITDA, as adjusted, in order to adequately assess the operating performance of the Company's "core" television and Internet businesses and in order to maintain comparability to its analyst's coverage and financial guidance. Management believes that EBITDA, as adjusted, allows investors to make a more meaningful comparison between our core business operating results over different periods of time with those of other similar small cap, higher growth companies. In addition, management uses EBITDA, as adjusted, as a metric measure to evaluate operating performance under its management and executive incentive compensation programs. EBITDA, as adjusted, should not be construed as an alternative to operating income (loss) or to cash flows from operating activities as determined in accordance with GAAP and should not be construed as a measure of liquidity. EBITDA, as adjusted, may not be comparable to similarly entitled measures reported by other companies.

About ShopNBC

ShopNBC is a direct-to-consumer, multi-media shopping destination for little luxuries and fashion must-haves. The shopping network reaches 70 million homes in the United States via cable affiliates and satellite: DISH Network channel 228 and DIRECTV channel 316. www.ShopNBC.com is recognized as a top e-commerce site. ShopNBC is owned and operated by ValueVision Media (NASDAQ: VVTV). For more information, please visit www.ShopNBC.com.

Forward-Looking Information

This release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and are accordingly subject to uncertainty and changes in circumstances. Actual results may vary materially from the expectations contained herein due to various important factors, including (but not limited to): consumer spending and debt levels; interest rates; competitive pressures on sales, pricing and gross profit margins; the level of cable distribution for the Company's programming and the fees associated therewith; the success of the Company's e-commerce and rebranding initiatives; the performance of its equity investments; the success of its strategic alliances and relationships; the ability of the Company to manage its operating expenses successfully; risks associated with acquisitions; changes in governmental or regulatory requirements; litigation or governmental proceedings affecting the Company's operations; and the ability of the Company to obtain and retain key executives and employees. More detailed information about those factors is set forth in the Company's filings with the Securities and Exchange Commission, including the Company's annual report on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K. The Company is under no obligation (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.


VALUE VISION MEDIA, INC.
Key Performance Metrics*
(Unaudited)

Q2 YTD
For the three months ending For the six months ending
------------------------- -------------------------
8/2/2008 8/4/2007 % 8/2/2008 8/4/2007 %
-------- -------- ----- -------- -------- -----
Program Distribution
Cable FTEs 42,988 41,446 4% 42,673 40,901 4%
Satellite FTEs 28,676 27,486 4% 28,528 27,292 5%
-------- -------- ----- -------- -------- -----
Total FTEs (Average
000s) 71,664 68,932 4% 71,201 68,193 4%
Net Sales per FTE
(Annualized) $ 7.92 $ 10.85 -27% $ 8.32 $ 10.92 -24%
Product Mix
Jewelry 39% 40% 41% 40%
Apparel, Fashion
Accessories,
Health & Beauty 9% 8% 10% 8%
Computers &
Electronics 18% 23% 17% 23%
Watches, Coins &
Collectibles 26% 17% 23% 16%
Home & All Other 8% 12% 9% 13%
Shipped Units (000s) 870 1,132 -23% 1,874 2,281 -18%
Average Price Point -
shipped units $ 224 $ 233 -4% $ 226 $ 229 -1%
-------- -------- ----- -------- -------- -----

*Includes ShopNBC TV and ShopNBC.com only.


VALUEVISION MEDIA, INC.
AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except share and per share data)
(Unaudited)

For the Three Month For the Six Month
Periods Ended Periods Ended
---------------------- ----------------------
August 2, August 4, August 2, August 4,
2008 2007 2008 2007
---------- ---------- ---------- ----------
Net sales $ 141,927 $ 190,613 $ 298,215 $ 378,722
Cost of sales 94,046 123,291 200,378 245,287
(exclusive of
depreciation and
amortization shown
below)
Operating expense:
Distribution and
selling 53,827 60,033 110,910 120,493
General and
administrative 5,682 6,210 12,017 13,705
Depreciation and
amortization 4,246 5,261 8,565 10,847
Restructuring costs - 2,043 330 2,043
CEO transition costs 553 - 830 -
---------- ---------- ---------- ----------
Total operating
expense 64,308 73,547 132,652 147,088
---------- ---------- ---------- ----------
Operating loss (16,427) (6,225) (34,815) (13,653)
---------- ---------- ---------- ----------
Other income (loss):
Other loss - (119) - (119)
Interest income 761 1,575 1,586 2,815
---------- ---------- ---------- ----------
Total other income 761 1,456 1,586 2,696
---------- ---------- ---------- ----------
Loss before income taxes
and equity in net income
of affiliates (15,666) (4,769) (33,229) (10,957)
Gain on sale of RLM
investment - - - 40,240
Equity in income of
affiliates - - - 609
Income tax provision (18) (640) (33) (921)
---------- ---------- ---------- ----------
Net income (loss) (15,684) (5,409) (33,262) 28,971
Accretion of redeemable
preferred stock (73) (73) (146) (145)
---------- ---------- ---------- ----------
Net income (loss)
available to
common shareholders $ (15,757) $ (5,482) $ (33,408) $ 28,826
========== ========== ========== ==========
Net income (loss) per
common share $ (0.47) $ (0.15) $ (0.99) $ 0.67
========== ========== ========== ==========
Net income (loss) per
common share
---assuming dilution $ (0.47) $ (0.15) $ (0.99) $ 0.68
========== ========== ========== ==========
Weighted average number of
common shares outstanding:
Basic 33,574,131 37,366,541 33,576,015 42,822,333
========== ========== ========== ==========
Diluted 33,574,131 37,366,541 33,576,015 42,846,686
========== ========== ========== ==========


VALUEVISION MEDIA, INC.
AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In thousands except share and per share data)


August 2, February 2,
2008 2008
----------- -----------
(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 48,829 $ 25,605
Short-term investments 10,892 33,473
Accounts receivable, net 55,730 109,489
Inventories 55,634 79,444
Prepaid expenses and other 5,646 4,172
----------- -----------
Total current assets 176,731 252,183
Long term investments 20,487 26,306
Property and equipment, net 34,694 36,627
FCC broadcasting license 31,943 31,943
NBC Trademark License Agreement, net 8,994 10,608
Cable distribution and marketing agreement, net 502 872
Other assets 615 541
----------- -----------
$ 273,966 $ 359,080
=========== ===========
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 36,543 $ 73,093
Accrued liabilities 34,598 44,609
Deferred revenue 692 648
----------- -----------
Total current liabilities 71,833 118,350
Deferred revenue 2,132 2,322
Series A Redeemable Convertible Preferred Stock,
$.01 par value, 5,339,500 shares authorized;
5,339,500 shares issued and outstanding 44,045 43,898
Shareholders' equity:
Common stock, $.01 par value, 100,000,000
shares authorized; 33,590,834 and 34,070,422
shares issued and outstanding 336 341
Warrants to purchase 2,036,858 shares of
common stock 12,041 12,041
Additional paid-in capital 272,745 274,172
Accumulated other comprehensive losses (6,314) (2,454)
Accumulated deficit (122,852) (89,590)
----------- -----------
Total shareholders' equity 155,956 194,510
----------- -----------
$ 273,966 $ 359,080
=========== ===========


VALUEVISION MEDIA, INC.
AND SUBSIDIARIES
Reconciliation of EBITDA, as adjusted, to Net Income (Loss):

Six-Month Six-Month
Second Second Period Period
Quarter Quarter Ended Ended
2-Aug-08 4-Aug-07 2-Aug-08 4-Aug-07
--------- --------- --------- ---------

EBITDA, as adjusted (000's) $ (10,666) $ 1,764 $ (23,059) $ 515
Less:
Non-operating gains (losses)
and equity in income of RLM - (119) - 40,730
Restructuring costs - (2,043) (330) (2,043)
CEO transition costs (553) - (830) -
Non-cash share-based
compensation (962) (685) (2,031) (1,278)
--------- --------- --------- ---------
EBITDA (as defined) (a) (12,181) (1,083) (26,250) 37,924
--------- --------- --------- ---------

A reconciliation of EBITDA to
net income (loss) is as
follows:
EBITDA, as defined (12,181) (1,083) (26,250) 37,924
Adjustments:
Depreciation and amortization (4,246) (5,261) (8,565) (10,847)
Interest income 761 1,575 1,586 2,815
Income taxes (18) (640) (33) (921)
--------- --------- --------- ---------
Net income (loss) $ (15,684) $ (5,409) $ (33,262) $ 28,971
========= ========= ========= =========
(a) EBITDA as defined for this statistical presentation represents net
income (loss) from continuing operations for the respective periods
excluding depreciation and amortization expense, interest income (expense)
and income taxes. The Company defines EBITDA, as adjusted, as EBITDA
excluding non-recurring non-operating gains (losses) and equity in income
of Ralph Lauren Media, LLC; non-recurring restructuring and CEO transition
costs; and non-cash share-based compensation expense.
Management has included the term EBITDA, as adjusted, in its EBITDA
reconciliation in order to adequately assess the operating performance of
the Company's "core" television and Internet businesses and in order to
maintain comparability to its analyst's coverage and financial guidance.
Management believes that EBITDA, as adjusted, allows investors to make a
more meaningful comparison between our core business operating results over
different periods of time with those of other similar small cap, higher
growth companies. In addition, management uses EBITDA, as adjusted, as a
metric measure to evaluate operating performance under its management and
executive incentive compensation programs. EBITDA, as adjusted, should not
be construed as an alternative to operating income (loss) or to cash flows
from operating activities as determined in accordance with GAAP and should
not be construed as a measure of liquidity. EBITDA, as adjusted, may not
be comparable to similarly entitled measures reported by other companies.

CONTACT:
Frank Elsenbast
Chief Financial Officer
952-943-6262



(Source: Market Wire )
👍️0
makesumgravy makesumgravy 15 years ago
Tuesday, October 30, 2007
Shopping Channel ValueVision Ousts CEO

Value Vision Media VVTV (NASDAQ) which operates the 24 hour shopping channel ShopNBC last Friday ousted CEO and board member William J. Lansing. At the same time the company lowered the company's fiscal 2007 outlook. Lansing had been CEO of the firm since December 2003. The company named Chairman John Buck as interim CEO, effective immediately.

Value Vision has been struggling from inception. According to a story by Leslie Brooks Suzukamo for Pioneer Press,
Under Lansing, sales grew from $591 million in fiscal 2004 to $767 million in 2006 but lost money every year. Nearly all the company's revenue comes from its television and associated Web site shopping business, with jewelry the biggest category.
Back in May of this year, the company reduced its workforce about 14 percent after posting an operating loss of $7.4 million in its first quarter. The company also closed two outlet stores and consolidated its distribution operations into a single warehouse facility. The cuts failed to stop the decline. In August, the company reported its second quarter loss increased to $5.5 million. Shortly thereafter,

Lansing promised Wall Street he could drive up yearly sales to 6 to 8 percent.
It was not to be.




Two months later the company's board felt compelled to act forcing Lansing to leave. Lansing, outside of institutional holders such as GE Asset Management (17.34%) and others is one of the largest individual holders of the company's shares (377,000 according to Reuters). Before Lansing was ousted, the company hired turnaround consultants Alvarez & Marsal to help the board develop ways to improve corporate performance. At the time, the board specifically went out of its way to emphasize the hiring of Alvarez and Marsal was not a turnaround situation. The company supposedly had a healthy balance sheet with $100 million in cash and no debt.

Keep a close eye on the moves the company makes over the next few months. If they manage to hire a very strong candidate with turnaround abilities and a thorough understanding of their specific business model there may be some real potential upside. As things stand, that might be a tall order.

Stay tuned.
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Sidney Sidney 15 years ago
Looks like it might be.
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jscot jscot 15 years ago
is there a bottom here?
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makesumgravy makesumgravy 16 years ago
ShopNBC Second Quarter 2008 Earnings Release and Conference Call Notice





MINNEAPOLIS, MN -- (Marketwire) -- 08/14/08 -- ShopNBC today announced it will discuss second quarter 2008 results in a conference call on Thursday, August 28, 2008, at 11:00 a.m. ET.




The Company will release its second quarter 2008 financial results after the market closes on Wednesday, August 27, 2008.





Hosting the call will be ShopNBC President and Chief Executive Officer, Rene Aiu and Senior Vice President and Chief Financial Officer, Frank Elsenbast.




Conference Call & Audio Streaming Information



To participate in the conference call, please dial 1-800-857-9866 (pass code: SHOPNBC) five to ten minutes prior to the call time. If you are unable to participate live in the conference call, a replay will be available for 30 days. To access the replay, please dial 1-866-455-0459 with pass code 7467622 (keypad: SHOPNBC).




You also may participate via live audio stream by logging on to https://e-meetings.verizonbusiness.com. To access the audio stream, please use conference number 6203440 with pass code: SHOPNBC. A rebroadcast of the audio stream will be available using the same access information for 30 days after the initial broadcast.


👍️0
Broseus Broseus 16 years ago
oops! i meant "VVTV" not "VVTO"
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