The lower percentage-of-completion for "Golden Slumber" dragged revenue down.
Spackman Entertainment Group (SEG) faces a dark new twist as it lost $1.05m (US$0.77m) in Q3.
According to its financial statement, revenue dropped by 35% YoY from $3.67m (US$2.7m) to $2.38m (US$1.75m).
The revenue decrease was due to a loss of $2.51m (US$1.85m) from film production as the percentage-of-completion for "Golden Slumber" in Q3 was lower compared to that of "Master" last year.
This was partially offset by a $1.11m (US$0.82m) gain from the leasing of equipment to third parties by Frame Pictures.
Do you know more about this story? Contact us anonymously through this link.