Reservoir Media, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 07, 2023 at 08:00 am
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Reservoir Media, Inc. reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was USD 38.4 million compared to USD 33.27 million a year ago. Net income was USD 0.53539 million compared to USD 4.54 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to USD 0.07 a year ago.
For the six months, sales was USD 70.23 million compared to USD 57.54 million a year ago. Net income was USD 0.812723 million compared to USD 4.61 million a year ago. Basic earnings per share from continuing operations was USD 0.01 compared to USD 0.07 a year ago. Diluted earnings per share from continuing operations was USD 0.01 compared to USD 0.07 a year ago.
Reservoir Media, Inc. is an independent music company. The Company operates a music publishing business, a record label business, a management business and a rights management entity in the Middle East. The Company operates in two segments: Music Publishing and Recorded Music. Operations of the Music Publishing segment involve the acquisition of interests in music catalogs, from which royalties are earned, as well as signing songwriters to agreements. Operations of the Recorded Music segment involves the acquisition of sound recording catalogs, as well as the discovery and development of recording artists and the marketing, distribution, selling and licensing of the music catalogs. Its publishing catalog includes compositions written and performed by Joni Mitchell, The Isley Brothers, Billy Strayhorn, Hoagy Carmichael and John Denver. Its songwriters include James Fauntleroy, Ali Tamposi, Jamie Hartman and Oak Felder.
RESERVOIR MEDIA, INC. 
