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WIZD($.60) reports Q2 revenues up 145% to $7.1M, net income $760K vs loss last year...



(PR Wires) PRW: Wizard World Releases Second Quarter 2014 Financials: The Co
mpany Exceeds 2013 Revenue in First Half of 2014

EL SEGUNDO, Calif.--(BUSINESS WIRE)--August 11, 2014--
Wizard World, Inc. (OTCBB:WIZD) (the "Company"), a leading provider of Comic
Cons and pop culture conventions across the world, today announced that the
Company has released its second quarter 2014 financial results in the
Company's Quarterly Report on Form 10-Q for the period ended June 30, 2014
("Q2 2014").
The Company hosted four comic cons in Q2 2014: St. Louis, Minneapolis,
Atlanta and Philadelphia, bringing fans together with their favorite
celebrities, artists, exhibitors in a pop culture and multimedia experience.
Convention revenue for period ended June 30, 2014 was $7,110,940, an
increase of $4,209,524 (or 145%) from $2,901,416 reported in the comparable
period in 2013. Convention revenue for the six months ended June 30, 2014
was $12,284,138, an increase of $7,589,246 (or 162%) from $4,694,892
reported in the comparable period in 2013. The significant increase in
revenue in 2014 is primarily accredited to the Company's team's dedication
to delivering higher quality events, including better organization, more
programming, and an exciting list of celebrities and artists to an
increasing fan base, which all translates to higher revenue growth.
The Company ran eight events during the first six months ended June 30,
2014, as compared to four events during the comparable period in 2013.
Average revenue generated per event in 2014 was $1,535,517 as compared to
$1,173,723 during 2013.
Operating expenses were $2,002,931 in Q2 2014, as compared to $859,536 the
same period in 2013, which was the result of increases in staffing and
employment costs due to the increased number and size of the events.
Operating expenses for the six months ended June 30, 2014, was $3,223,900,
as compared to $1,550,043 reported in the comparable period in 2013.
Income from operations was $759,842 in Q2 2014, an increase of 358% from
$(293,666) reported in the comparable period in 2013. Income from operations
for the six months ended June 30, 2014, was $1,452,044 as compared to
$(167,574) reported in the comparable period in 2013. The increase is
primarily attributable to running more and larger events with similar fixed
costs.
The Company reported a net income of $759,703 or income per share of $0.01
for the three months ended June 30, 2014, as compared to $(3,183,533) or
loss per share of $0.09, in the comparable period in 2013. Net income for
the six months ended June 30, 2014, was $1,451,744 or income per share of
$0.03, as compared to $(2,079,357) or loss per share of $(0.06), reported in
the comparable period in 2013. Income in 2014 was primarily generated from
convention revenue and stronger profit margin versus the loss in 2013 which
was non-cash generated from a loss on the fair value of the Company's
derivative liabilities, and by year end of 2013 the Company successfully
extinguished all derivative instruments.
At June 30, 2014, the Company had working capital of $4,030,802 and as of
August 8, 2014, there were 51,341,524 shares of common stock issued and
outstanding.
"We are excited to have successfully completed eight of our 2014 events to
date, as our team is now preparing for our flagship event in Chicago which
is expected to bring tens of thousands of fans to meet over 50 celebrities
including the reunion of the cast from Star Trek: The Next Generation, more
than 315 artists and more than 300 exhibitors," said John Macaluso, CEO of
Wizard World, Inc. "We are thrilled to have already topped our 2013 revenue
and we believe we will continue to exceed our expectations for the remainder
of the year, increasing shareholder value and organically building our
shareholder base with the ultimate shareholders, our fans."
The Company will continue its 2014 tour next in Chicago, August 21-24. Seven
additional shows are scheduled in 2014, bringing the yearly total to 16
conventions. To find a Wizard World Comic Con in a city near you, go to:
http://www.wizardworld.com/.
The Company encourages shareholders to not rely on this press release and to
refer to the Company's Quarterly Report on Form 10-Q for full disclosure
relating to the second quarter financial report, filed on August 11, 2014,
which can be found on www.sec.gov.
About Wizard World, Inc.
Wizard World, Inc. (OTCBB:WIZD) is a leading provider of Comic Cons and pop
culture conventions across the world that celebrate graphic novels, comic
books, movies, TV shows, celebrities, gaming, technology, toys and social
networking. The events often feature celebrities from movies and TV, artists
and writers, and events such as premieres, gaming tournaments, panels, and
costume contests.
For more information and full event schedule, visit: www.wizardworld.com.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 that involve certain
risks and uncertainties. The actual results or outcomes of Wizard World,
Inc. may differ materially from those anticipated. Although Wizard World,
Inc. believes that the assumptions underlying the forward-looking statements
contained herein are reasonable, any such assumptions could prove to be
inaccurate. Therefore, Wizard World, Inc. can provide no assurance that any
of the forward-looking statements contained in this letter will prove to be
accurate.
In light of the significant uncertainties and risks inherent in the
forward-looking statements included in this letter, such information should
not be regarded as a representation by Wizard World, Inc. that its
objectives or plans will be achieved. Included in these uncertainties and
risks are, among other things, fluctuations in operating results, general
economic conditions, uncertainty regarding the results of certain legal
proceedings and competition. Forward-looking statements consist of
statements other than a recitation of historical fact and can be identified
by the use of forward-looking terminology such as "may," "intend," "expect,"
"will," "anticipate," "estimate" or "continue" or the negatives thereof or
other variations thereon or comparable terminology. Because they are
forward-looking, such statements should be evaluated in light of important
risk factors and uncertainties. These risk factors and uncertainties are
more fully described in Wizard World, Inc.'s most recent Annual and
Quarterly Reports filed with the Securities and Exchange Commission,
including under the heading entitled "Risk Factors." Wizard World, Inc. does
not undertake an obligation to update publicly any of its forward-looking
statements, whether as a result of new information, future events or
otherwise, except as required by law.

CONTACT: Wizard World, Inc.
Jerry Milani, 646-512-5022
Investor Relations
[e-mail]

SOURCE: Wizard World, Inc.
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