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Why ValueVision Media is Down 17 Percent Thursday (VVTV)

SONY DSCShares of ValueVision Media (NASDAQ: VVTV) are down 17 percent Thursday after the company announced earnings that disappointed the street.

The company reported second quarter EPS of $(0.02) versus the estimated $0.01, missing by $0.03. EPS were up 75 percent year over year. Revenue came in at $149.0 million versus the estimated $144.31 million.

ValueVision EVP and CFO, William McGrath, said, “Our balance sheet condition remains strong. We ended the second quarter with a cash balance, including restricted cash, of $35 million. Major cash expenditures in the quarter included the final payment under our trademark license agreement with NBCUniversal of $2.8 million as well as $2.5 million in capital expenditures. ValueVision continues to maintain $12 million in undrawn availability under its $50 million credit facility with PNC. This availability further strengthens our balance sheet condition.”

Read the transcript from the conference call here.

[stock-tools exchange="NASDAQ" symbol="VVTV" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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