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Vividthree reports 16% fall in 3Q earnings to $1.2 mil on higher admin expenses

PC Lee
PC Lee2/11/2019 09:05 PM GMT+08  • 2 min read
Vividthree reports 16% fall in 3Q earnings to $1.2 mil on higher admin expenses
SINGAPORE (Feb 11): Vividthree Holdings, the virtual reality (VR), visual effects and computer-generated imagery production studio, reported earnings decreased 16.1% to $1.2 million in 3Q19 ended Dec from $1.4 million in 3Q18.
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SINGAPORE (Feb 11): Vividthree Holdings, the virtual reality (VR), visual effects and computer-generated imagery production studio, reported earnings decreased 16.1% to $1.2 million in 3Q19 ended Dec from $1.4 million in 3Q18.

Revenue and gross profit in 3Q19 increased by 29.4% and 15.5% to $2.8 million and $2.0 million respectively, mainly due to higher contribution from its content production services as Vividthree which delivered its first “Train to Busan Virtual Reality” (TTB VR) tour set in Beijing, China and recognition of the rights fees for its TTB VR tour set.

Administrative expenses increased to $0.7 million in 3Q19 from $0.4 million in 3Q18 mainly due to the expansion of the group’s business operations that comprises manpower costs, IPO listing fees, depreciation charges, rental and travelling expenses.

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