SOURCE: Rainmaker Entertainment Inc.

Rainmaker Entertainment Inc.

December 01, 2014 07:00 ET

Rainmaker Entertainment Announces Financial Results for the 3rd Quarter of 2014

VANCOUVER, BC--(Marketwired - December 01, 2014) - Rainmaker Entertainment Inc. (TSX VENTURE: RNK) today announced its results for the three and nine months ended September 30, 2014. Rainmaker reported a loss of $626,178 ($0.04 per share) for the third quarter of 2014 compared with a loss of $951,685 ($0.05 per share) for the third quarter of 2013. For the nine months ended September 30, 2014 Rainmaker reported a loss of $1.90 million ($0.11 per share) compared with a loss of $2.23 million ($0.13 per share) for the nine months ended September 30, 2013.

                  
   three months ended   nine months ended  
$thousands, except per share amounts  30-Sep-14   30-Sep-13   30-Sep-14   30-Sep-13  
                  
Revenue   2,726    1,878    6,809    6,092  
Net Loss and total comprehensive loss   (626 )  (952 )  (1,901 )  (2,229 )
                      
Loss per share                     
 - basic and diluted  $(0.04 ) $(0.05 ) $(0.11 ) $(0.13 )
                  

The Company achieved a 45% increase in revenues in the third quarter of 2014 compared to 2013. Revenues on a nine months basis were also greater than those recognised in the prior year. This stronger revenue performance reflects the Company's increased production volumes, largely driven by Bob the Builder, Rainmaker's most recently announced service production.

Michael Hefferon, President and Chief Creative Officer, commented, "I am very pleased with the steady improvement that the Company's revenues show in comparison to 2013. We are working toward continuing this trend and expect to further increase production service levels in 2015. We are on track to complete our second theatrical feature film, Ratchet & Clank, in the first quarter of 2015. The Company is engaged in discussions to secure a North American Distribution Agreement."

Craig Graham, Chief Executive Officer, added, "The current quarter's results are a credit to Management's commitment to win new business and produce shows profitably."

Forward-Looking Statements
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information" under applicable securities laws. These statements relate to future events or future performance and include, but are not limited to, statements regarding our future plans and financial performance. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", and similar expressions are often used to identify forward-looking statements. By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific. In evaluating these statements, readers should specifically consider risks which may cause actual results to differ materially from any forward-looking statement. The forward-looking statements contained herein are based upon certain assumptions considered reasonable at the time they were prepared. Such assumptions include, but are not limited to, assumptions regarding: (i) general economic conditions, (ii) Rainmaker's future business prospects and opportunities, and (iii) Rainmaker's ability to complete any or all of its proposed production work. Should one or more of the risks or uncertainties identified herein materialize, or should the assumptions underlying the forward-looking statements prove to be incorrect, then actual results may vary materially from those described herein. In respect of Rainmakers business generally, readers should also refer to Forward-looking Statements in the Management Discussion & Analysis for year ended December 31, 2013. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, Rainmaker does not assume any obligation to update the forward-looking statements contained herein.

About Rainmaker Entertainment
Based in Vancouver, British Columbia, Rainmaker Entertainment Inc. is a multifaceted animation studio and one of Canada's largest producers of CG animation. On February 15, 2013, Rainmaker's first feature film, Escape From Planet Earth (distributed by The Weinstein Company), opened on 3200 screens across North America. Originally established as Mainframe Entertainment, the company produced the first ever CGI animation series, ReBoot, and over the course of its 15+ years of innovative history, Rainmaker has continued to break new ground in animation, telling engaging stories and creating compelling characters for all media. In addition to projects Rainmaker has produced with partners and clients including Mattel, The Weinstein Company, Hasbro, Lionsgate and Sony, Rainmaker also develops proprietary projects for both film and television. For more information, visit www.rainmaker.com.

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