Emerald Expositions has posted a net loss of $90 million in the fourth quarter of 2018, due to impairment charges related to certain trade names and customer-related intangible assets.
According to SBG Media, Emerald, the parent company of recently-cancelled Interbike, attributed the Q4 loss to a non-cash charge of $104.3 million related to the impairment of certain intangible assets. During the same period in 2017, Emerald posted a net income of $40.3 million.
The report also stated that net cash provided by operating activities decreased by 15.1% to $35.4 million, compared to $41.7 million for Q4 last year. Although, revenues did increase significantly by 81% to $57.0 million, compared to $31.5 million for the same period in 2017.
The report also posted the company’s performance for the year. For the entirety of 2018, revenues increased 11.4% to $380.7 million, compared to $341.7 million for 2017. However, Emerald posted a net loss of $25.1 million in stark contrast to a net income of $81.8 million last year.
In December, Emerald announced it had cancelled this year’s Interbike trade show, with Show Director Justin Gottlieb and Sales Director Andria Klinger, among others, leaving the company. In a press release, the company said they will now look in to the opportunity of launching events featuring bicycling and bike-related components within or alongside its various multi-sport franchises.
Weeks after Emerald Expositions confirmed its Interbike show has been shelved for 2019, the business further sold US-based Bicycle Retailer & Industry News (BRAIN).