NEW FRONTIER MEDIA INC /CO/

CIK:0000847383|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Net revenue	$ 9,768	$ 10,305	$ 21,450	$ 20,733
Cost of sales	4,264	3,938	10,134	7,906
Gross margin	5,504	6,367	11,316	12,827
Operating expenses:
Sales and marketing	2,085	1,937	4,243	3,996
General and administrative	4,907	3,999	9,668	8,393
Charge for asset impairments	28	186	28	186
Total operating expenses	7,020	6,122	13,939	12,575
Operating income (loss)	(1,516)	245	(2,623)	252
Other net income (expenses)	27	(4)	10	(6)
Income (loss) before income tax expense	(1,489)	241	(2,613)	246
Income tax expense	(1,003)	(108)	(298)	(224)
Net income (loss)	(2,492)	133	(2,911)	22
Net loss attributable to noncontrolling interests				3
Net income (loss) attributable to New Frontier Media, Inc. shareholders	$ (2,492)	$ 133	$ (2,911)	$ 25
Per share information attributable to New Frontier Media, Inc. shareholders:
Net basic income (loss) per share (in dollars per share)	$ (0.15)	$ 0.01	$ (0.18)	$ 0.00
Net diluted income (loss) per share (in dollars per share)	$ (0.15)	$ 0.01	$ (0.18)	$ 0.00

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Cash flows from operating activities:
Net income (loss)	$ (2,911)	$ 22
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	5,395	3,842
Share-based compensation	127	396
Deferred taxes	50	42
Charge for asset impairments	28	186
Changes in operating assets and liabilities:
Accounts receivable	161	595
Accounts payable	329	(287)
Content and distribution rights	(2,088)	(2,161)
Film costs	(319)	(1,224)
Deferred producer liabilities	138	(578)
Deferred revenue	(51)	(164)
Producers payable	226	(558)
Taxes receivable and payable	(170)	(116)
Accrued compensation	(34)	(503)
Recoupable costs and producer advances	(371)	706
Other assets and liabilities	982	1,186
Net cash provided by operating activities	1,492	1,384
Cash flows from investing activities:
Purchases of property and equipment	(881)	(3,356)
Purchases of intangible assets	(279)
Net cash used in investing activities	(1,160)	(3,356)
Cash flows from financing activities:
Purchases of common stock		(875)
Payments on short-term debt		(400)
Payments on long-term seller financing	(55)	(55)
Net cash used in financing activities	(55)	(1,330)
Net increase (decrease) in cash and cash equivalents	277	(3,302)
Effect of exchange rate changes on cash and cash equivalents	(3)	(3)
Cash and cash equivalents, beginning of period	13,190	18,787
Cash and cash equivalents, end of period	$ 13,464	$ 15,482

CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Sep. 30, 2012	Mar. 31, 2012
Current assets:
Cash and cash equivalents	$ 13,464	$ 13,190
Accounts receivable, less allowance of $481 and $183, respectively	8,172	8,334
Taxes receivable	216	46
Deferred tax asset	159
Prepaid and other assets	2,303	2,234
Total current assets	24,314	23,804
Property and equipment, net	8,294	8,619
Content and distribution rights, net	11,675	11,792
Recoupable costs and producer advances, less allowance of $2,199 and $2,467, respectively	2,598	2,227
Film costs, net	2,322	3,984
Deferred tax assets	3,107	3,691
Other assets	720	634
Total assets	53,030	54,751
Current liabilities:
Accounts payable	1,310	981
Producers payable	619	393
Deferred revenue	555	606
Accrued compensation	896	930
Deferred producer liabilities	1,500	1,361
Accrued and other liabilities	3,972	3,328
Total current liabilities	8,852	7,599
Other long-term liabilities	1,770	1,702
Total liabilities	10,622	9,301
Commitments and contingencies (Note 10)
Shareholders' equity:
Preferred stock, $.10 par value, 4,999 shares authorized, no shares issued and outstanding
Common stock, $.0001 par value, 50,000 shares authorized, 16,264 shares issued and outstanding as of September 30, 2012 and March 31, 2012	2	2
Additional paid-in capital	51,827	51,957
Accumulated deficit	(9,335)	(6,424)
Accumulated other comprehensive loss	(86)	(85)
Total shareholders' equity	42,408	45,450
Total liabilities and shareholders' equity	$ 53,030	$ 54,751