The Boca Raton Digital Magazine
Mayim Bialik on the cover of The Boca Raton Observer

Mayim Bialik on the cover of The Boca Raton Observer

Starwatch Byline covered Mayim Bialik’s return to South Florida back in May and now she graces the August cover of The Boca Raton Observer.  The lifestyle and community magazine reporter Chelsea Greenwood attended the event and wrote about the Emmy-nominated actress.

In her opening Bialik shared with the David Posnack JCC audience of 500, that Florida was the place where her grandparents retired, “she used to spend summer in Sunrise playing with her second cousins. She learned how to shuffle cards, play gin rummy and shuffle-board…” .  As she continued to share with the capacity crowd, by evening’s end, Bialik had discussed her upbringing, faith, life in Hollywood and path to neuroscience.

Table of Contents of August Issue of The Boca Raton Observer featuring Mayim Bialik

Table of Contents of August Issue of The Boca Raton Observer featuring Mayim Bialik

She also included her reasons for returning to acting after having her children, earning her Ph.d. and authoring two books left which left Greenwood with the impression that “she’s (Bialik) a lot of things you wouldn’t expect from a Hollywood star, and that makes her relatable, refreshing and a bit of an unlikely rebel. She lives life her way and she’s not shy about defending her values.”

On her current work on “The Big Bang Theory”, Bialik was asked about her co-star and multiple Emmy winner, Jim Parsons. She shared that “Jim is terrific. He’s very professional. He’s very meticulous with his lines and his acting in general. He’s friendly and has a wicked sense of humor. He’s a very generous actor…He always lets me take my time if I’m working something out – he’s never impatient with me.”

 

 

 

She also confirmed her return for season nine which had left many fans wondering following the season eight finale when Amy Farrah Fowler “decided to take some time” in what appeared to be a break-up. “I don’t know that means breaking up, but that’s how most people are taking it.” declared Bialik.

The World According to Mayim

The World According to Mayim Sneak Preview

The complete magazine and article may be downloaded via the app store or fans can register for a digital version at The Boca Raton Observer website .

The Boca Raton Digital Magazine

The Boca Raton Digital Magazine

 

Steve Molaro, Bill Prady, Chuck Lorre (front row L-R); Image: MIchael Yarish/Warner Bros. Entertainment Inc.

by Rob Moynihan
Reposted from TVInsider

Stepping into The Big Bang Theory writers’ room—a nondescript space on the Warner Bros. lot in Burbank, California—reveals more than a typical workplace. This is a playground for the dozen scribes who call it home 10 months of the year.

While the main table is covered, predictably, with script pages and empty water bottles and soda cans, other items in the room speak to the personality of its inhabitants, like Magic: The Gathering card sets, Nerf guns loaded with foam balls, and a cotton candy machine nestled against the wall.

“One of the big questions is whether or not the cotton candy machine is being used as a Nerf target or a cotton candy machine,” jokes cocreator and executive producer Bill Prady.

“It turns out it’s very important to get all the Nerf parts out before you fire up the machine,” replies executive producer and showrunner Steven Molaro.

On this particular day in April, the writers are in the midst of fine-tuning the Season 8 finale, “The Commitment Determination,” and the pressure is on since the episode is scheduled to shoot in front of a studio audience in less than a week. The journey from the initial idea of a storyline to tape night typically spans about a month and is a very collaborative process. “The traditional path of [writing] an episode [for most television shows] is that it’s outlined by the entire room and then one ­writer goes off to generate a script that’s usually rewritten completely,” Prady says. “But this show is different in [that each episode] is written as a group from Page 1.”

All the writers are encouraged to pitch ideas; if something sticks, the group runs with it. “A lot of the jumping-off points come from us telling stories about our lives,” says co-executive pro­ducer Steve Holland. “But they also come from reading about what’s going on in science or pop culture.”

In some instances, ideas for storylines come from unexpected places. This past season’s “The Troll Manifestation,” in which it was revealed that Amy (Mayim Bialik) secretly writes Little House on the Prairie-themed fan fiction, was based on co-executive producer Eric Kaplan’s encounter with an enthusiastic woman who had written more than 3,000 stories about Sheldon (Jim Parsons). “So we started looking up Big Bang Theory fan fiction, and you might think we’d make fun of it, but actually it was very thoughtfully written,” Molaro says. “We got heavily wrapped up in the story in the same way that Penny [Kaley Cuoco-Sweeting] and Bernadette [Melissa Rauch] did.”

Read More

 

GuestsLateLateShow_midAug2015

 

GuestsLateLateShow_midAug2015


(Monday through Friday, 12:37-1:37 AM, ET/PT)

*Denotes changes and/or additions to previous schedule

(n) Denotes new broadcast

Thursday, Aug. 13 Model Naomi Campbell; actor Nick Kroll; actress Katharine McPhee (OAD: 4/15/15)

Friday, Aug. 14 Actress Allison Janney; actor Jerry Ferrara; actor Paul Dano (OAD: 6/3/15)

Monday, Aug. 17 Actress Lake Bell; actor Chiwetel Ejiofor; musical performance by Little Mix (n)

Tuesday, Aug. 18 Actor Patrick Stewart; NBA player Anthony Davis; musical performance by Morrissey (n)

Wednesday, Aug. 19 Actor Johnny Knoxville; comedian Natasha Leggero; musical performance by Robin Thicke (n)

*Thursday, Aug. 20  Actor Ben Kingsley; actor Bill Hader; actor Zac Efron (n)

*Friday, Aug. 21 YouTube Stars Tyler Oakley, Jenna Marbles, Kandee Johnson, The Slow Mo Guys and Epic Rap Battles of History; musical performance by Boyce Avenue (n)

RATING:  TV-14-D (Rating may change on day of broadcast due to specific subject matter.)

 

GuestTheTalk_midAug2015

GuestTheTalk_midAug2015

Monday through Friday (2:00-3:00 PM, ET; 1:00-2:00 PM, PT)

(*Denotes changes and/or additions to previous schedule, (n) Denotes new)

Monday, August 17 Actress Connie Britton; “Top Talker” Olympic gold medalist and snowboarding star Shaun White; chef Richard Blais serves up Swedish meatballs with gravy, smoked mashed potatoes and butterscotch pudding (OAD: 2/16/15)

Tuesday, August 18 Grammy Award-nominated comedian and actor Jim Gaffigan discusses his new comedy series; chef John Seymour cooks delectable fried chicken and waffles with macaroni and cheese (OAD: 8/10/15)

Wednesday, August 19 Actress and singer Katharine McPhee (CBS’s “Scorpion”) discusses her new album; New England Patriots football player Rob Gronkowski discusses his new book, “It’s Good to Be Gronk” (OAD: 7/15/15)

Thursday, August 20 Actor Joe Manganiello discusses his new film; television personality and author Melissa Rivers guest co-hosts; chef Alisa Reynolds puts a California spin on catfish and succotash (OAD: 6/29/15)

Friday, August 21 Actor and comedian Marlon Wayans; actress Britt Robertson discusses her new film; television personality Kelly Osbourne guest co-hosts; chef Susan Feniger makesheirloom tomatoes with black garlic and basil vinaigrette served over cheddar grits with bacon and chard (OAD:  5/26/15)

RATING:  TV14-DL (Rating may change on day of broadcast due to specific subject matter.)

 

Travis Van Winkle
Travis Van Winkle

Travis Van Winkle Image: @huffingtonpost

The Last Ship’s Travis Van Winkle is going to be making an appearance on the upcoming second season of CBS smash high action/thriller hit Scorpion.   He will play Ensign Nathan Hall who gets trapped in a submarine with Walter O’Brien (Elyes Gabel), Cabe (Robert Patrick) and Happy (Jadyn Wong).  Ensign Hall will be forced to figure out how to work his way out of the situation.

The character is described as hard-working and smart and a man who carries a deep respect for what #TeamScorpion does in trying to save the world.

Season 2 also brings along a new director, Alana De La Garza who will likely place her stamp on the show and it could influence a decision as to go or no go with the budding romance between Paige and Walter.  Tune into Season 2 to find out!

Season 2 of Scorpion airs September 21 at 9/8c on CBS.

Melissa Tang, Johnny Galecki on The Big Bang Theory Image: TVline.com

 

 

This contains spoilers so do not read further if you wish to remain unspoiled.

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The Big Bang Theory‘s Leonard Hofstadter (Johnny Galecki)  admitted to kissing a girl to Penny (Kaley Cuoco-Sweeting)  on their way to the altar at the end of Season 8.

In the premiere episode of Season 9, the nupitals actually take place, but Penny soon learns after that she can’t get the fact that he kissed the other girl out of her mind.  Leonard tries to explain to her at the time that he didn’t enjoy the kiss but lets out that he has been working with her for the last couple of years without Penny’s prior knowledge.   Needless to say this does not set well for their potential honeymoon night.

According to TVLine, the role of ‘the other woman’ has now been cast in the form of Mom’s Suzanne Taylor’s portrayer, Melissa Tang.  Tang will play Mandy, who will appear in the second episode of Season 9.

The Big Bang Theory Season 9 premerie’s September 21 at 8/7c PM ET on CBS.

CWrenwalsWhoseLinePennTeller

 

CWrenwalsWhoseLinePennTeller

Both Whose Line Is It Anyway? and Penn & Teller: Fool Us have been ordered more new cylces of their series’, announced today at the CW presentation of the Television Critics Association (TCA) Summer Tour.

Whose Line Is It Anyway? cast regulars include Ryan Stiles, Wayne Brady, Colin Mochrie and is hosted by Aisha Tyler with various guest comedians taking up the fourth improv actor spot.  The improvisational comedy series is co-created by Dan Patterson and Mark Leveson who executive produce the series along with Jimmy Mulville, Ryan Stiles and Wayne Brady.

Las Vegas-magician pros, Penn & Teller, star as judges-to-be-fooled  in the  competition series Penn & Teller:  Fool Us to find aspiring magicians who can fool them with their best magic trick.   Winning competitors are invited to perform with Penn & Teller in Las Vegas.  The series is produced by 117 Productions & September Films and is hosted by Jonathan Ross.   Executive producers of the series are Penn Jillette, Teller, Peter Adam Golden and Andrew Golder.

 

 

Britney Spears Image: RUVEN AFANADOR

Britney Spears tweeted out today that she will be guest starring on one  of her favorite shows “EVER”…Jane the Virgin.  It was also confirmed by Jane the Virgin‘s showrunner, Jennie Urman via Twitter.

So what will Spears be doing on the show?   She will play a nemesis for Jaime Camil who plays Rogelio who has a long-standing feud with the character.   Urman explained, “Personally, after hearing about their long standing feud (from Rogelio’s point of view), we are eager to hear Ms. Spears’ side of the story, which we assume is quite different. #TeamBritney.”

The cast seem just as excited as Britney about Spears’ appearance on the show and took to Twitter when asked about her appearance with Spears:

 

Spears will appear in the fifth episode of Season 2 of Jane the Virgin.  The second season of Jane the Virgin will premiere on October 19 at 9/8c PM ET on CW.

George Lopez Image:Getty Images

Continuing in it’s love for single-camera comedies, TVLand has ordered another single-camera comedy straight to production, Lopez starring George Lopez who will also executive produce the series.   Twelve episodes have been ordered based on a pilot script and a short presentation.

See Related – The Exes Cancelation

Lopez is an autobiographical comedy of the veteran standup comedian.  Lopez will play himself, his struggles between his two worlds and his often own crisis making.   The two worlds – his working-class Latino roots and the comfortable affluent celebrity life where he feels “too brown” introduce many problems for the character.

“I’m excited that TV Land realizes that my personal challenges, insecurities and inability to connect are all part of my charm,” Lopez said.

No further cast members have been named at this time, but the pilot script was written by Silicon Valley’s co-creators and executive producers John Altschuler and Dave Krinsky who will write and executive produce the Lopez series.  Troy Miller and Michael Rotenberg of 3 Arts Entertainment are also executive producing the series.

Lopez is slated for at 2016 premiere.  Stay tuned for updates.

Presidential Candidate Jeb Bush, Stephen Colbert Image: @thecolbertreport

Stephen Colbert has added Republican Presidential Candidate Jeb Bush to join George Clooney as a debut episode guest on CBS’ Late Show.

See Related – TCA15 CBS Tour

Colbert tweeted out the following:

In which Jeb Bush replied:

Colbert announced at the CBS panel of the Television Critics Association Summer Tour that he would be offering more open discussion from all sides related to politics.   This first step is a sign that he means business, although he really would love to take some whacks at Donald Trump and I am sure he will get a few of those in even with Bush’s presence on the show.

Late Show with Stephen Colbert will debut September 8th on CBS.

Four-Time Emmy Nominee Dr. Mayim Bialik launches GrokNation.com

Fans had been teased for days to #getreadytogrok from four-time Emmy® nominee Mayim Bialik that she was ready to launch something  soon.   Today was the day and fans awaited with abated breath to know what it is she was going to launch.

GrokNation.com is a new site, Bialik launched to “approach every issue – whether it be acting, science, parenting, faith – whatever it is; there is a way to “grok” it, to look at every issue and find the underlying importance and meaning in it. Every story in the news, every TV show that people are blogging about, every time someone is shocked that I like action movies; it all has meaning.”

Bialik promises she “will bring you insights and challenges from other writers, to expand the conversations we are having in the world. I will highlight individuals, organizations and charities that are working to improve lives, impact local communities and transform the world. You can be a part of that transformation – by being here at GrokNation.com, joining us across social media, and sharing thoughts, messages and ideas.”

Checkout her new site and join in the fun!

 

TVLand has made some bold moves lately and it added another move, canceling it’s final multi-cam comedy series, The Exes.   The Exes has six more episodes to air and that will be their final episodes.

Kristen Johnston broke the news via Twitter:

The Exes starred Donald Faison (as Phil Chase), Wayne Knight (Haskell Lutz), David Alan Basche (Stuart Gardner), Kristen Johnston (Holly Franklin), Leah Remini (Nicki) and Kelly Stables (Eden).

Created  by Mark Reisman, The Exes was produced by Mark Reisman Productions and Acme Productions with Reisman, Mark Bario, Michael Hanel, Mindy Schultheis, Larry W. Jones and Keith Cox all Executive Producing the series.   Reisman was one of the many writers on the show as well.

The Exes was about a group of divorced friends who try to get their lives together and get back into being single again.

TVLand has changed the landscape of their offering over the last couple of seasons and are attracting younger audiences with their new single-cam comedies: Younger, Impastor, The Jim Gaffigan Show, and Teachers.   They have recently ordered another single-cam comedy, Friends with Melissa,  from Melissa McCarthy and her husband Ben Falcone.   Also under development is a  Real Housewives of Beverly Hills-inspired series.

Multi-cam comedies that recently were canceled included Happily Divorced, Kirstie, Jennifer FallsHot in Cleveland also celebrated its final series episode earlier this year.

The final episodes of The Exes air on Wednesdays at 11/10c PM ET on TVLand.

 

BurstynSqubbOsmentonMom
BurstynSqubbOsmentonMom

Ellen Burstyn, June Squibb and Emily Osment

 

 

Oscar®-winner and Emmy®-winner Ellen Burstyn will guest star on Season 3 of Chuck Lorre’s Mom which airs on CBS.  Burstyn will play Shirley, the natural birth-mother of Bonnie (Allison Janey).   Shirley abandoned Bonnie when she was only age four and Bonnie has not seen her since.   The sudden appearance of Shirley will cause tension in Bonnie’s relationship with her own daughter, Christy (Anna Faris).

Also guesting in the same episode is June Squibb who will play Dottie, a woman who Christy thinks is the “perfect grandmother.”

Burstyn and Squibb are scheduled to appear in the November 19th episode which airs at 9/8c PM ET on CBS and are currently only slated for the single episode each.

Also appearing in Season 3 is EmilyOsment (Young and Hungry) in a multiple-episode Series arc.

Jamie Pressly (Jill) and Beth Hall (Weeping Wendy) are promoted to series regulars, while Spender Daniels (Luke) will only return occasionally as a guest appearance.

Mom Season 3 premieres November 5th at 9/8c PM ET on CBS.

 

Can’t remember what happened in May’s season finales? No worries! There’s no need to scour the Internet or rack your brain – all the info you need is right here! So sit back, relax and take a trip down memory lane, as well as get a glimpse of what the future holds this coming season on CBS.

SUNDAY

MADAM SECRETARY

(8:00-9:00 PM, ET/PT)

Premieres Sunday, Oct. 4

SEASON FINALE: Elizabeth appeared before a Congressional committee regarding the attempted coup in Iraq, but on the advice of President Dalton and his Chief of Staff Russell Jackson, she invoked executive privilege and refused to testify. When the committee subpoenaed Henry, he was willing to lie to protect Elizabeth because they were going to accuse her of sharing classified information about Secretary Marsh’s death. Elizabeth refused to let him perjure himself and instead told the truth to the committee, and won over the press and pundits with a passionate speech about why she made the choices she did. 

COMING UP: In the season premiere, the President’s plane is declared missing and Elizabeth is thrust into a situation of power she never imagined possible. Also, Henry butts heads with his new Defense Intelligence Agency handler, Jane Fellows, when he’s asked to recruit one of his Russian students for the NSA. Academy Award winner and MADAM SECRETARY Executive Producer Morgan Freeman guest stars and directs the season premiere episode. Jill Hennessy joins the cast in a recurring role as Jane Fellows, Henry’s new D.I.A. handler. @MadamSecretary

THE GOOD WIFE

(9:00-10:00 PM, ET/PT)

Premieres Oct. 4

SEASON FINALE: Alicia’s professional future as a lawyer was in jeopardy after her very public resignation from the State’s Attorney office when threatened with a voter fraud scandal.

 

COMING UP: Alicia attempts to revive her struggling law career by once again starting her own law firm, this time with the assistance of Jason Crouse (new cast member Jeffrey Dean Morgan), a calm, experienced investigator whom she hires. Also, to help with his Presidential campaign, Peter engages Willa Eastman (Margo Martindale, recurring), a national strategist who hides her intelligence and cunning under a fake, folksy charm, creating an interesting dynamic with Eli in the process. In addition, Cush Jumbo joins the cast as attorney Lucca Quinn. @TheGoodWife_CBS

 

CSI

(9:00-11:00 PM, ET/PT)

Series Finale Sept. 27

SEASON FINALE: The CSI team faced their final struggle with the Gig Harbor killer, whose motive was finally exposed to be killing his long lost sister. Also, Brother Larson (Eric Roberts) turned out to be the Winthrop twins’ father, Greg and Morgan found Finlay clinging to life in the trunk of a car and Stokes decided to accept the director’s job in San Diego.

 

SERIES FINALE: In the special two-hour series finale, a catastrophic event paralyzes Las Vegas, and Gil Grissom, Catherine Willows and Jim Brass return to help the team with the investigation. Also, D.B. Russell and Sara Sidle make decisions regarding the future of their crime-fighting careers, and Lady Heather returns, creating maniacal controversy between Grissom and Sidle. @CSI_CBS

 

CSI: CYBER

(10:00-11:00 PM, ET/PT)

Premieres Oct. 4

SEASON FINALE: Avery confronted the hacker who released her patients’ information online when she was a psychologist, and Krumitz confronted the man who murdered his parents. 

COMING UP: D.B. Russell, a civilian specialist, transfers from Las Vegas to become the director of the newly created division of Next Generation Cyber Forensics. He joins Avery and her team as they track down the most dangerous cyber criminals, beginning with the hacking of a home security system that turns into a homicide investigation. Also, Avery considers moving to a new position within the hierarchy of the FBI, Krumitz is a witness in his sister’s trial, Elijah deals with a delicate family situation and more is revealed about both Nelson’s and Raven’s backgrounds. Ted Danson joins the cast as D.B. Russell. @CSICyber

 

MONDAY

THE BIG BANG THEORY

(8:00-8:30 PM, ET/PT)

Premieres Sept. 21

SEASON FINALE: After exhausting Amy’s patience, Sheldon was shocked to hear his girlfriend ask for time apart to think things over.  The discovery that he had an engagement ring complicated the moment. Meanwhile, Leonard decided the perfect time to tell Penny he’d been a bit unfaithful was on the drive to Las Vegas to elope.Returns to Thursdays at 8:00 PM on Nov. 5, following NFL Thursday Night Football. 

COMING UP: Brilliant Sheldon is confronted by a mystery of the universe he cannot unravel: when a woman wants time apart to think, exactly how much time does that mean, and is there any way to hurry the process along? In Las Vegas, Penny and Leonard march closer to marching down the aisle, but has Penny gotten over Leonard’s infidelity? And if so, will he do anything to un-get her over it? @BigBang_CBS

 

SCORPION

(9:00-10:00 PM, ET/PT)

Premieres Sept. 26

SEASON FINALE: Scorpion, torn apart and uncertain about their future as a team, came together for their most important mission yet – to save Walter’s life as his car teetered on the side of a cliff. After he was rescued by a heroic Cabe, Walter was hospitalized for his injuries, and Paige, overcome with emotion, kissed Walter.

 

COMING UP: In the second season premiere, the new Director of Homeland Security Adriana Molina (guest star Alana De La Garza) reunites the team when a nuclear powered Russian satellite is knocked out of orbit and must be diverted before it detonates over Southern California. Also, Paige and Walter must face their feelings for each other when hospital footage reveals that Paige kissed him. @ScorpionCBS

NCIS: LOS ANGELES

(10:00-11:00 PM, ET/PT)

Premieres Sept. 21

SEASON FINALE: The ongoing case involving Arkady and his personal connection to an oil tanker lead Callen, Sam, Deeks and Kensie to Moscow, where the team assumed multiple undercover identities in order to locate their suspects. Also, Callen uncovered new information regarding his father.

 

COMING UP: The seventh season premieres with Callen embarking on a secret project, leaving Sam and the entire team in the dark. After Hetty demands his operation be shut down, the team is tasked with locating Callen before he finds himself in over his head. @NCISLA_CBS

 

TUESDAY

NCIS

(8:00-9:00 PM, ET/PT)

Premieres Sept. 22

SEASON FINALE: NCIS investigated the Calling, a global terrorist group that recruits teens via the Internet, after Special Agent Ned Dornegat is killed in a bombing overseas. Following another attack by the group, Dornegat’s mother, CIA Officer Joanna Teague joined forces with the team to find the leaders. When Luke Harris, a former member of the group, is kidnapped by the Calling and taken to Iraq, Gibbs, DiNozzo and Joanna follow. Just as DiNozzo finds the Calling’s leader, Luke shoots Gibbs twice. 

COMING UP: After being shot, Gibbs fights for his life aboard a Navy hospital ship, while DiNozzo and Joanna travel to Shanghai to try and take down the Calling. Jon Cryer guest stars as Gibbs’ surgeon, Dr. Cyril Taft. Mimi Rogers returns as CIA Officer Joanna Teague. @NCIS_CBS

 

NCIS: NEW ORLEANS

(9:00-10:00 PM, ET/PT)

Premieres Sept. 22

SEASON FINALE: After Pride received intelligence that the ports were breached, placing the Navy and the Gulf Coast in harm’s way, he and his team followed every angle to determine what… or who… had entered their city. Also, when the mole was revealed to be Captain Messier, a trusted local law enforcement officer who had worked hand in hand with Pride and his team, the agents realized that the power of the local mob organization, the Broussard Syndicate, was stronger than they could have ever imagined. 

COMING UP: In the second season premiere, a military convoy is attacked in order to steal a missile that is part of a Naval exercise. Pride and the team, believing that it is perpetrated by a group of anti-American militants, make plans for a dangerous undercover operation with potentially deadly consequences. Also, two recurring cast members are now series regulars: Shalita Grant, as ex-ATF Agent Sonja Percy, and Daryl Mitchell, as Investigative Computer Specialist Patton Plame. @NCISNewOrleans

 

WEDNESDAY

SURVIVOR

(8:00-9:00 PM, ET/PT)

Premieres Sept. 23

NEW SEASON: SURVIVOR returns with “Survivor Cambodia: Second Chance.” In a SURVIVOR first, fans chose the 20 castaways who will return for a second chance to compete against each other with the same ultimate goal: to outwit, outplay and outlast each other. Ultimately, one will be crowned the Sole Survivor and win the $1 million prize. The show is hosted by Emmy Award winner Jeff Probst. @Survivor_Tweet

CRIMINAL MINDS

(9:00-10:00 PM, ET/PT)

Premieres Sept. 30

SEASON FINALE: Kate Callahan’s niece, Meg, and her best friend, Markayla, were kidnapped, and the BAU discovered that the girls were targeted by an online predator who posed as a teenager in order to traffic them to serial killers. The team was able to track down the kidnappers and rescue Meg, thanks to Markayla’s information following her escape. Also, Kate resigned, telling Hotch she wanted to spend time with her children, and Reid learned that J.J. was pregnant.

COMING UP: The 11th season begins with the BAU interviewing different candidates to join their ranks in the wake of Kate’s departure, including a forensic psychologist, Dr. Tara Lewis, who is eager to assist their efforts. Also, the BAU hunts for a serial killer who leaves behind distinctive evidence that points to someone intent on revenge. Aisha Tyler joins the cast in a recurring role as Dr. Tara Lewis. @CrimMinds_CBS

 

THURSDAY

THE BIG BANG THEORY

(8:00-8:30 PM, ET/PT)

Returns to Thursday on Nov. 5.

 

MOM

(9:00-9:30 PM, ET/PT)

Premieres Nov. 5

SEASON FINALE: Christy became infuriated when Bonnie fell off the wagon. Their relationship became so contentious that their closest friends and family excluded them from gatherings, culminating with Roscoe announcing that he would prefer to live with his father and his new girlfriend. Christy blamed Bonnie for this development and attempted to move out, but ultimately returned home to make amends.

 

COMING UP: In season three, Christy and Bonnie find themselves in unfamiliar territory: they’re getting along! They will continue to rely on their sober friends, Marjorie, Jill and Wendy, for support and together, they’ll offer encouragement to newcomers to their group, including Jodi (guest star Emily Osment). Also, Regina will make a life-altering decision that affects everyone, and Christy will continue to be challenged by the facts that Violet is engaged to a man 22 years her senior and Roscoe is spending more and more time with his father and his girlfriend. In addition, Christy will get a new boss and Bonnie will reconnect with her biological mother. @MomCBS

 

ELEMENTARY

(10:00-11:00 PM, ET/PT)

Premieres Nov. 5

SEASON FINALE: Holmes was subjected to a series of devious machinations by Oscar, an unstable roommate from Sherlock’s time as an addict. Oscar’s manipulations caused Sherlock to lose his temper, assault Oscar, and ultimately relapse. While Sherlock prepared himself for the fallout of his brutal actions and the end of three years of sobriety, he and Watson received word that Sherlock’s estranged father was coming to New York.

 

COMING UP: Holmes attempts to rebuild his life in the wake of his attack on Oscar and subsequent relapse. Due to his violent actions, Sherlock’s partnership with Watson and their consultancy with the NYPD are in jeopardy. As he awaits news on whether or not he will face criminal charges, the case of a missing woman allegedly killed by her husband lands in his lap, just in time to distract him from the impending arrival of his estranged father, Mr. Morland Holmes (new cast member John Noble).@Elementary_CBS

 

FRIDAY

THE AMAZING RACE

(8:00-9:00 PM, ET/PT)

Premieres Sept. 25

COMING UP: The Emmy Award-winning show kicks off its 27th edition with 11 new teams crossing the starting line in Venice Beach to embark on a trek around the world. At every destination, each team must compete in a series of challenges, and only when the tasks are completed will they learn of their next location. Teams who are the farthest behind will gradually be eliminated as the contest progresses, with the first team to arrive at the final destination winning the $1 million prize. Phil Keoghan (@PhilKeoghan) serves as host. @AmazingRace_CBS

HAWAII FIVE-0

(9:00-10:00 PM, ET/PT)

Premieres Sept. 25

SEASON FINALE: On the eve of Kono’s wedding to Adam, Five-0 learned that a stolen nuclear bomb wassomewhere on the island and about to be detonated. Once Danny and McGarrett disposed of the bomb in the Pacific Ocean, Kono’s wedding began just as Chin got a surprise visit from the very dangerous Gabriel Waincroft.

COMING UP: In the sixth season premiere, a murder leads Five-0 to investigate a centuries-old pirate story involving buried treasure, and it seems that the killer is using the back of a stolen painting as a treasure map. Also, the morning after their wedding, Kono and Adam (Ian Anthony Dale) are kidnapped and tortured by Gabriel (Christopher Sean), and Danny shows concern for McGarrett regarding Catherine’s return to the island. @HawaiiFive0CBS

BLUE BLOODS

(10:00-11:00 PM, ET/PT)

Premieres Sept. 25

SEASON FINALE: The Reagans raced to the hospital after Linda was shot. Danny nabbed the gang member responsible for shooting her, as well as for the murder of a deputy police chief.

 

COMING UP: Danny and Baez investigate a possible serial killer who sends a chilling message to Danny. Also, Erin toys with the idea of applying for a judgeship, Frank is in a bind when a mayoral candidate accuses him of corruption and Eddie must face her estranged father when he winds up in the hospital. @BlueBloods_CBS

Bravo’s new hit comedy Odd Mom Out has been renewed for a second season.   It is Bravo’s first scripted comedy series, starring show creator Jill Kargman who makes fun of her ultra-wealthy, society-elite, name-dropping family and their cliques in New York City’s Upper East Side.

Odd Mom Out is based on Kargman’s novel Momzilla‘s, where she plays Jill Webber, who wile born and raised in Manhattan and is well-off but is viewed as a charity case among her own in-laws and elitist Mahnattan mom pals.

Besides Kargman, Odd Mom Out cast includesAbby Elliott, Andy Buckley, KK Glick, Sean Kleier and Joanna Cassidy.  The series is executive produced by Kargman alongside Ken Druckerman, Banks Tarver, Tim Piper, Daniel Rosenberg, Tony Hernandez, Julie Rottenberg  and Elisa Zuritsky.

“Mom and non-mom viewers alike — from Beverly Hills to Brooklyn — have found a spirit animal in Jill Kargman’s hilarious and relatable depiction of a woman struggling to keep up,” said Lara Spotts, SVP of development for Bravo Media. “We are excited to bring fans more of this vibrant and highly entertaining world driven by an amazing cast and creative team.”

Odd Mom Out is Bravo’s highest rated freshman series this year, with just under a million total viewers each week.    Odd Mom Out wrapped up it’s first season of the series on August 3rd.  Stay tuned for more news about when Season 2 will begin.

Matt Sayles/AP Images for Texas Instruments
Dr. Mayim Bialik brand ambassador for Ti-84

Dr. Mayim Bialik brand ambassador for Ti-84

®

 

Back to school shopping is in full swing with several states hosting their tax-free days this weekend to the chagrin of students coast to coast. The Big Bang Theory’s resident neuroscientist and four-time Emmy® Nominee Mayim Bialik and Texas Instruments® want to help ease students into the new school year with a new promotion and giveaways.

In their most recent contest Texas Instruments would like you to tell the world why you love their calculator by creating a video featuring your own TI® calculator, then posting the video to your Twitter or Instagram with #ilyTIcontest so you could be eligible to win a classroom visit with Mayim Bialik. Note that only videos are eligible for a visit with Dr. Bialik but you can check the complete official rules available here [x].

Here is a small sample of current entries in the contest:

 

Mayim Bialik  appeared at the Alliance Tennenbaum Tech gymnasium in Los Angeles on Saturday, August 8, where she met math and science students as well as teachers and signed their TI calculators. The first 50 students in line received a brand new TI-84 Plus CE graphing calculator – TI’s brand new calculator for back-to-school, available in eight fun colors. 

Matt Sayles/AP Images for Texas Instruments

Matt Sayles/AP Images for Texas Instruments

 

Mayim Bialik Alliance Tennenbaum Tech gymnasium on Saturday, August 8, 2015 photo via @brenda_XD

Mayim Bialik Alliance Tennenbaum Tech gymnasium on Saturday, August 8, 2015 photo via @brenda_XD

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Mayim Bialik Alliance Tennenbaum Tech gymnasium on Saturday, August 8, 2015 photo via @brenda_XD

 

MB_8_7_15c

Mayim Bialik Alliance Tennenbaum Tech gymnasium on Saturday, August 8, 2015 photo via @brenda_XD

 

DeeksMomandDeeks

8 August 2015 4:05 PM PT

DeeksMomandDeeks

Pamela Reed & Eric Christian Olsen Images: Getty Images/CBS

 

 

Marty Deeks (Eric Christian Olsen) is about to get a visit from his mother.

Pamela Reed (Parks and Recretation, CSI, Criminal Minds) will be playing Mrs. Deeks in an upcoming Season 7 episode of NCIS: Los Angeles.   Fans of NCIS: Los Angeles are thrilled that Marty will be getting some backstory.  Many have been asking for it.   Fans believe he has had some issues in the past and hopefully his mother’s visit will help address the questions fans have had about him.

According to Entertainment Weekly, who first reported the spoiler, “It will come as a shock, but yes … Deeks does have a mother!” executive producer Shane Brennan tells EW. “A big moment for Kensi when they finally meet, a bigger moment for Deeks and another memorable NCIS: LA moment for the fans as we lift the veil — or in this case, the apron — on one of our much-loved characters.”

Will she meet Deeks’ lady love?   Yes, she will meet Kensi (Daniela Ruah)!

Reed will first appear in an episode in September.  NCIS: Los Angeles premieres September 21, 2015 at 10/9c PM ET on CBS.

AMCLogo

AMC NETWORKS INC. REPORTS SECOND QUARTER 2015 RESULTS

Second Quarter Highlights (1):

  • Net revenues increased 15.1% to $601 million
  • AOCF2 increased 21.9% to $191 million
  • Operating income increased 22.7% to $159 million

New York, NY – August 6, 2015: AMC Networks Inc. (“AMC Networks” or the “Company”) (NASDAQ: AMCX) today reported financial results for the second quarter ended June 30, 2015. “AMC Networks had a strong second quarter, with double digit growth in revenues, AOCF and operating income driven by our continued focus on investing in high-quality programming,” said Josh Sapan, President and Chief Executive Officer of AMC Networks. “In addition to maintaining our core content strategy, we have become more of an owner of content; we have closely aligned ourselves with a premier producer of content through our BBC AMERICA joint venture; and we have expanded our global distribution footprint to include 140 countries and territories. This strategic approach has enabled us to diversify our sources of revenue and has set us up well for an increasingly digital future, one in which consumers exercise more choice and control over every minute of television they watch. We believe this strategy will continue to allow us to create value for our shareholders in the near, mid and long term.” Second quarter net revenues increased 15.1%, or $79 million, to $601 million over the second quarter of 2014, led by 22.8% growth at National Networks which was partially offset by a decrease of $12 million at International and Other.  Adjusted Operating Cash Flow (“AOCF”)2 totaled $191 million, an increase of 21.9%, or $34 million, versus the prior year period.  National Networks AOCF increased 33.3% and International and Other AOCF decreased $11 million versus the prior year period.  Operating income was $159 million, an increase of 22.7%, or $29 million, versus the prior year period.  The operating income increase resulted from 33.9% growth at National Networks partially offset by an increase of $13 million in operating loss at International and Other.  As discussed in the “Other Matters” section of this release, results reflected the impact of the BBC AMERICA acquisition. For the six months ended June 30, 2015, net revenues increased $223 million, or 21.3%, to $1.270 billion, AOCF increased $127 million, or 39.0%, to $451 million, and operating income increased $112 million, or 40.6%, to $390 million. Second quarter net income from continuing operations was $83 million ($1.14 per diluted share), compared with $60 million ($0.83 per diluted share) in the second quarter of 2014.  The increase was primarily related to the growth in operating income and an increase in miscellaneous, net income related to foreign currency transaction gains.

  1. Comparative results affected by the BBC AMERICA acquisition in 2014.
  2. See definition of Adjusted Operating Cash Flow (“AOCF”) included in the discussion of non-GAAP financial measures on page 3 of this earnings release.

Net income from continuing operations for the six months ended June 30, 2015 was $204 million ($2.81 per diluted share), compared with $132 million ($1.83 per diluted share) in the prior year period. Net cash provided by operating activities was $190 million for the six months ended June 30, 2015, an increase of $13 million from the prior year period.  The increase was primarily the result of the improved operating performance partially offset by an increase in tax payments.  Free Cash Flow3 for the six months ended June 30, 2015 was $157 million, a decrease of $2 million from the prior year period.  The decrease reflects the increase in net cash provided by operating activities offset by an increase in capital expenditures over the prior year period.

 

National Networks National Networks principally consists of the Company’s five nationally distributed programming networks, AMC, WE tv, BBC AMERICA, IFC and SundanceTV. National Networks revenues for the second quarter 2015 increased 22.8% to $489 million, AOCF grew 33.3% to $183 million, and operating income rose 33.9% to $168 million, all compared to the prior year period. National Networks revenues for the six months ended June 30, 2015 increased 24.2% to $1.051 billion, AOCF grew 38.5% to $436 million, and operating income rose 38.8% to $408 million, all compared to the prior year period. Second quarter growth in revenues was led by a 29.3% increase in distribution revenues to $303 million.  The increase in distribution revenues was primarily attributable to increases in affiliate fees, including the inclusion of BBC AMERICA, as well as increases in digital, licensing and home video revenues.  Advertising revenues increased 13.4% to $186 million.  The growth in advertising revenues reflected the inclusion of BBC AMERICA in the current year period as well as strong growth at WE tv, IFC and SundanceTV. Second quarter AOCF increased 33.3% to $183 million reflecting the increase in revenues partially offset by an increase in operating expenses.  The increase in operating expenses was primarily attributable to the inclusion of BBC AMERICA in the current year period as well as higher programming expenses at the other domestic networks.  The operating income increase reflected the growth in AOCF partially offset by an increase in amortization expense.

International and Other International and Other principally consists of AMC Networks International, the Company’s international programming business; IFC Films, the Company’s independent film distribution business; and various developing digital content distribution initiatives. International and Other revenues for the second quarter of 2015 decreased $12 million to $113 million, AOCF declined $11 million to $9 million, and operating income decreased $13 million to a loss of $9 million, all compared to the prior year period. International and Other revenues for the six months ended June 30, 2015 increased $18 million to $219 million, AOCF improved $6 million to $14 million, and operating loss increased $1 million to a loss of $19 million, all compared to the prior year period. The decrease in second quarter revenues reflected a decline at AMC Networks International primarily related to foreign currency fluctuations. Second quarter AOCF principally reflected the decline in revenues as operating expenses were essentially flat.  The operating loss reflected the decrease in AOCF as well as an increase in amortization expense. Other Matters BBC AMERICA Transaction As previously disclosed, on October 23, 2014, the Company entered into a long-term equity partnership agreement with BBC Worldwide.  Under the terms of the agreement, the Company invested $200 million to acquire a 49.9% equity stake in the cable channel BBC AMERICA.  The Company has operational control of BBC AMERICA and its results are included in the Company’s consolidated statement of income from the agreement date, October 23, 2014, to June 30, 2015, which affects the comparability of our results. Chellomedia Acquisition As previously disclosed, on January 31, 2014, the Company completed its acquisition of substantially all of Chellomedia, the international content division of Liberty Global plc, for €750 million (approximately $1.0 billion).  Results for Chellomedia are included in the Company’s consolidated statement of income from the acquisition date, January 31, 2014, to June 30, 2015, which affects the comparability of our results. Please see the Company’s Form 10-Q for the period ended June 30, 2015 for further details regarding the above matters. Description of Non-GAAP Measures The Company defines Adjusted Operating Cash Flow (“AOCF”), which is a non-GAAP financial measure, as operating income (loss) before depreciation and amortization, share-based compensation expense or benefit, and restructuring expense or credit. Because it is based upon operating income (loss), AOCF also excludes interest expense (including cash interest expense) and other non-operating income and expense items. The Company believes that the exclusion of share-based compensation expense or benefit allows investors to better track the performance of the various operating units of the business without regard to the effect of the settlement of an obligation that is not expected to be made in cash. The Company believes that AOCF is an appropriate measure for evaluating the operating performance of the business segments and the Company on a consolidated basis. AOCF and similar measures with similar titles are common performance measures used by investors, analysts and peers to compare performance in the industry. Internally, the Company uses net revenues and AOCF measures as the most important indicators of its business performance, and evaluates management’s effectiveness with specific reference to these indicators. AOCF should be viewed as a supplement to and not a substitute for operating income (loss), net income (loss), and other measures of performance presented in accordance with U.S. generally accepted accounting principles (“GAAP”). Since AOCF is not a measure of performance calculated in accordance with GAAP, this measure may not be comparable to similar measures with similar titles used by other companies. For a reconciliation of AOCF to operating income (loss), please see page 7 of this release. The Company defines Free Cash Flow from Continuing Operations, (“Free Cash Flow”), which is a non-GAAP financial measure, as net cash provided by operating activities (continuing operations) less capital expenditures (continuing operations), both of which are reported in our Consolidated Statement of Cash Flows. Net cash provided by operating activities excludes net cash provided by operating activities of discontinued operations. The Company believes the most comparable GAAP financial measure of its liquidity is net cash provided by operating activities. The Company believes that Free Cash Flow is useful as an indicator of its overall liquidity, as the amount of Free Cash Flow generated in any period is representative of cash that is available for debt repayment, investment, and other discretionary and non-discretionary cash uses. The Company also believes that Free Cash Flow is one of several benchmarks used by analysts and investors who follow the industry for comparison of its liquidity with other companies in the industry, although the Company’s measure of Free Cash Flow may not be directly comparable to similar measures reported by other companies. For a reconciliation of Free Cash Flow to net cash provided by operating activities, please see page 8 of this release. The Company defines Adjusted Earnings per Diluted Share (“Adjusted EPS”), which is a non-GAAP financial measure, as earnings per diluted share from continuing operations less amortization of acquisition-related intangible assets, net of tax.  The Company uses this financial measure to evaluate the Company’s performance exclusive of the impact of the non-cash amortization charge.  Please see page 9 of this release for a reconciliation of this measure to earnings per diluted share from continuing operations. Forward-Looking Statements This earnings release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results or developments may differ materially from those in the forward-looking statements as a result of various factors, including financial community and rating agency perceptions of the Company and its business, operations, financial condition and the industries in which it operates and the factors described in the Company’s filings with the Securities and Exchange Commission, including the sections entitled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. The Company disclaims any obligation to update any forward-looking statements contained herein. Conference Call Information AMC Networks will host a conference call today at 10:00 a.m. ET to discuss its second quarter 2015 results.  To listen to the call, visit http://www.amcnetworks.com or dial 1-877-347-9170, using the following passcode: 82748755. About AMC Networks Inc. AMC Networks owns and operates several of cable television’s most recognized brands delivering high quality content to audiences and a valuable platform to distributors and advertisers.  The Company manages its business through two operating segments: (i) National Networks, which principally includes AMC, WE tv, BBC AMERICA, IFC and SundanceTV; and (ii) International and Other, which principally includes AMC Networks International, our international programming business; and IFC Films, the Company’s independent film distribution business. For more information on AMC Networks, please visit the Company’s website at http://www.amcnetworks.com.

See Full Report

Ryan Reynolds, backstage on Conan 4 Aug 2015. Image: @teamcoco

 

Ryan Reynolds was a guest on Conan tonight and as part of his appearance, the redband Deadpool trailer was premiered on the show.

Reynold’s Wade Wilson faces the difficult decision on  whether to take on  superpowers to try and cure the cancer that has spread through his liver, lungs, prostate and brain or suffer the consequences.  The viewer is taken on an action-packed emotional roller coaster yet full of comical dialog typical of the Deadpool comics.

Deadpool trailer received a standing ovation and was one of the most popular trailers shown at this years San Diego International Comic-Con (SDCC) this past July.

See Related Deadpool at Comic-Con

“For one, I think it’s an absolute miracle that a studio let us make ‘Deadpool,’ let alone a rated-R ‘Deadpool,’” Reynolds told the Comic-Con audience of 20th Century Fox’s willingness to greenlight the film. The actor appeared as a version of the character in 2009’s “X-Men Origins: Wolverine.”

The trailer shown August 4 changed the rating of Conan’s show which aired of same date to TV-MA because of the R-rated content.

Deadpool is slated to release February 12, 2016.

See Redband Trailer below:

 

HomeonBluRayDVDAnnouncement
– The profitable performance of Home helps drive the revenues in DWA’s Feature Film segment 26% higher to $88 million
– Television segment revenues more than double year-over-year to nearly $55 million
– Adjusted(a) revenue in the New Media segment increases 103% to nearly $15 million

GLENDALE, Calif., Aug. 4, 2015 /PRNewswire/ — DreamWorks Animation SKG, Inc. (Nasdaq: DWA) today reported revenues for the quarter ended June 30, 2015 of $170.8 million, representing an increase of 39.7% from the same period in 2014. In addition, DWA reported an adjusted(b) operating loss of ($1.0) million and adjusted(b) net loss attributable to DWA of ($11.6) million or an adjusted(b) loss of ($0.13) per share. Adjusted financial results exclude a $20.9 million pre-tax charge associated with Company’s Restructuring Plan announced on January 22, 2015.

Including the impact of the Restructuring Plan, DWA reported an operating loss of ($21.8) million and reported net loss attributable to DWA of ($38.6) million, or($0.45) per share for the quarter ended June 30, 2015. Of the restructuring-related charges totaling $20.9 million or a loss of ($0.25) per share, $2.4 million was due to employee termination and other employee-related costs, $10.9 million was related to accelerated depreciation and amortization charges associated with the closure of our Redwood City facility, and $7.6 million was primarily related to excess staffing and other costs associated with previously announced changes in the feature film slate.

“Our second quarter financial results were solid, highlighted by the theatrical success of Home and the rapid expansion of our Television and New Media businesses,” said Jeffrey Katzenberg, Chief Executive Officer of DreamWorks Animation.  “The appetite for premium content across platforms continues to grow both domestically and internationally, and it’s clear DreamWorks Animation is well-positioned to capitalize on the growing demand.”

Home, which was released theatrically on March 27, 2015 has reached $177 million at the domestic box office and $207 million at the international box office to date.

Second Quarter Review:

DWA’s second quarter revenues of $170.8 million increased 39.7% versus the prior-year period primarily driven by the performance of the Feature Film, Television Series and Specials and New Media segments.

Revenues for the quarter ended June 30, 2015 from the Feature Film Segment increased to $87.8 million, up from $69.7 million in the prior-year period.  Segment gross profit also increased to $31.7 million compared to $23.9 million in the same period last year.

Home contributed feature film revenue of $23.9 million in the quarter, primarily earned in the worldwide theatrical market.  In addition, the film was released in the digital market on June 26, 2015 and reached an estimated 0.1 million home entertainment transactions sold worldwide, as of the end of the quarter.  Subsequent to the end of the quarter, on July 28, 2015 the film was released on physical DVD and Blu-ray.

The Penguins of Madagascar contributed feature film revenue of $8.3 million in the current quarter, primarily from the worldwide home entertainment market.  Through the end of the second quarter, the film reached an estimated 3.5 million home entertainment units sold worldwide, net of actual and estimated future returns.

How to Train Your Dragon 2 contributed feature film revenue of $17.9 million in the quarter, primarily from the international pay television market.  Through the end of the second quarter, the film reached an estimated 8.6 million home entertainment units sold worldwide, net of actual and estimated future returns.

Mr. Peabody and Sherman contributed feature film revenue of $8.4 million in the quarter, primarily from the international pay television market. The film reached an estimated 4.0 million home entertainment units sold worldwide at the end of the second quarter, net of actual and estimated future returns.

Turbo contributed feature film revenue of $1.0 million in the current quarter.  The film reached an estimated 7.2 million home entertainment units sold worldwide at the end of the second quarter, net of actual and estimated future returns.

Library titles contributed feature film revenue of $28.3 million to the quarter. Library revenues in the current quarter were driven by worldwide television and home entertainment revenues for a number of titles including The Croods, Rise of the Guardians, Madagascar 3, How to Train Your Dragon, Madagascar: Escape 2 Africa and Madagascar.

Revenues for the quarter ended June 30, 2015 from the Television Series and Specials Segment increased to $54.5 million, compared to $20.0 million during the prior-year period.  The increase in revenues was attributable to a significantly higher number of episodes delivered under our episodic content licensing arrangements.  Segment gross profit increased to $19.2 million in the current quarter, from $1.2 million in the same period of the prior year. The increase was primarily driven by favorable amortization rates associated with our episodic series, partially offset by higher up-front marketing costs associated with the release of our new television series.  In addition, for the three months ended June 30, 2014 segment gross profit was negatively impacted by higher than expected returns of seasonal and newly-released home entertainment product, as well as increased selling costs, related to our Classic Media properties.

Revenues from the Consumer Products Segment decreased to $12.7 million in the second quarter, compared to $18.5 million in the same period last year.  The prior year period benefitted from merchandise and licensing revenue associated with How to Train Your Dragon 2, which was released theatrically in June 2014.  Segment revenues in the current quarter were primarily generated by licensing arrangements related to a variety of our intellectual property rights associated with the characters from our feature films.  Segment gross profit decreased to $1.8 million from $7.3 million in the prior year period, largely due to higher costs incurred across a variety of segment activities.

Revenues for the quarter ended June 30, 2015 from the Company’s New Media Segment were $14.6 million compared to $11.5 million during the three months ended June 30, 2014.  This increase was primarily attributable to revenue generated under new licensing agreements and the delivery of newly-created content versus the prior-year period.  In the prior year period, the Company reported certain advertising and talent management revenues in this segment on a “gross” basis rather than on a “net” basis.  For comparative purposes, if the New Media Segment’s revenues had been reported on a “net” basis during the quarter endedJune 30, 2014, revenues for the quarter ended June 30, 2015 would reflect an increase of 103% compared with the prior-year period.  Segment gross profit, which is not affected by this item, increased to $7.5 million from $2.5 million in the prior-year period, primarily due to higher revenue contributions from newly licensed content.

For the quarter ended June 30, 2015, DWA posted an adjusted(b) operating loss of ($1.0) million. The increase in revenues and segment gross profit were offset by an increase in adjusted(b) general and administrative expenses. Adjusted(b) general and administrative costs in the current quarter were largely driven by the expansion and growth of the AwesomenessTV business.  Operating loss in the prior-year period included a $7.2 million benefit associated with a reduction in the fair value of the contingent consideration liability related to our acquisition of ATV.  The reported operating loss for the quarter ended June 30, 2015, inclusive of restructuring-related charges, was ($21.8) million.

Adjusted(b) net loss attributable to DWA for the quarter ended June 30, 2015 was ($11.6) million, or an adjusted(b) loss of ($0.13) per share. Adjusted net loss reflects higher interest expense in the current quarter attributable to lease financing obligation associated with the Company’s headquarters, as well as a decrease in the amount of interest expense that could be capitalized.  The results for the second quarter also included a provision for income taxes of $1.8 millionand a $7.1 million expense related to the Company’s tax sharing agreement with a former stockholder. This aggregate expense of $8.9 million resulted in the Company’s combined effective tax rate of (29.3%) for the second quarter compared to an aggregate expense of $0.9 million, or a combined effective tax rate of (6%), in the prior-year period.  Reported net loss attributable to DWA for the quarter ended June 30, 2015 was ($38.6) million, or ($0.45) per share.

Year to Date Review:

DWA’s revenues for the six months ended June 30, 2015 increased 25.2% to $337.3 million compared to $269.5 million in the prior-year period.  The increase was driven by year-over-year growth in the Feature Films, Television Series and Specials and New Media segments.

Revenues for the six months ended June 30, 2015 from the Feature Film Segment increased to $215.8 million, primarily due to higher revenue from current year and prior year theatrical release categories relative to the prior-year period. Segment gross profit increased to $72.7 million for the six months ended June 30, 2015 compared to a loss of $1.5 million in the prior-year period. In the first half of 2014, DWA recorded an impairment charge of $57.1 million related to the performance of Mr. Peabody and Sherman.

Home, contributed feature film revenue of $26.9 million during the six months ended June 30, 2015, primarily from revenues earned in the worldwide theatrical market.

The Penguins of Madagascar contributed feature film revenue of $10.3 million during the first half of 2015, primarily from the home entertainment market.

How to Train Your Dragon 2 contributed feature film revenue of $59.3 million in the first six months of 2015, primarily from the film’s domestic and international pay television windows, as well as the home entertainment market.

Mr. Peabody and Sherman contributed feature film revenue of $39.9 million in the first six months of 2015, primarily from the film’s domestic and international pay television windows and the home entertainment market.

Turbo contributed feature film revenue of $13.4 million in the six months ended June 30, 2015, primarily from the international home entertainment market.

Library titles contributed feature film revenue of $66.0 million in the first half of 2015.  Library revenues were driven by worldwide television and home entertainment revenues for a number of titles including Rise of the Guardians, How to Train Your Dragon, The Croods, and Madagascar 3.  In addition, during the six months ended June 30, 2015, our Library benefitted from recoveries of $7.8 million from previously established home entertainment reserves related to sales through DWA’s former primary theatrical distributor.

Revenues from the Television Series and Specials Segment for the six months ending June 30, 2015 increased 91.3% to $72.5 million, due to a significantly higher number of episodes delivered under our episodic content licensing arrangements.  Segment gross profit also increased to $22.6 million in the first half of 2015, up from $7.0 million in the same period of the prior year.  The increase was primarily driven by favorable amortization rates associated with our episodic series relative to the prior-year period, partially offset by an increase in up-front marketing costs associated with the launch of our new television series.  In addition, gross profit for the six months ended June 30, 2014 was negatively impacted by higher than expected returns of seasonal and newly-released home entertainment product, as well as increased selling costs, related to our Classic Media properties.

Revenues from the Consumer Products Segment in the first half of 2015 decreased to $27.8 million, from $30.7 million in the prior-year period.  The prior-year period benefited from merchandise and licensing revenue associated with How to Train Your Dragon 2.  Segment revenues for each of the six-month periods ended June 30, 2015 and 2014 were primarily driven by licensing arrangements related to a variety of intellectual property rights associated with the characters from our feature films.  For the six months ended June 30, 2015, segment gross profit decreased to $8.4 million, from $13.4 million in the prior year period.  The decrease was largely due to lower revenues and higher costs incurred across the segments business activities.

Revenues for the six months ended June 30, 2015 from the Company’s New Media Segment increased to $19.1 million, from $15.6 million in the prior-year period.  This increase was primarily attributable to revenue generated under new licensing agreements and for the delivery of newly-created content as well as revenues generated by Big Frame, which was acquired in April 2014.  In the prior year period, the Company reported certain advertising and talent management revenues in this segment on a “gross” basis rather than on a “net” basis.  For comparative purposes, if the New Media Segment’s revenues had been reported on a “net” basis during the six months ended June 30, 2014, revenues for the six months ended June 30, 2015 would reflect an increase of approximately 95% compared with the prior-year period.  Segment gross profit for the first half of 2015, which is not affected by this item, was $9.6 million, compared to $2.4 million during the same period last year, primarily due to higher revenue contributions from newly licensed content and improved margins on content deliveries.

For the six months ended June, 2015, DWA posted an adjusted(b) operating loss of ($4.4) million. The increase in revenues and segment gross profit was offset by an increase in adjusted(b) general and administrative expenses.  Adjusted(b) general and administrative costs in the current year were largely driven by the expansion and growth of the AwesomenessTV business. The reported operating loss for the six months ended June 30, 2015, inclusive of restructuring-related charges was ($57.1) million. This compares to an operating loss of ($72.9) million in the prior-year period, which included a $4.7 million benefit associated with a reduction in the fair value of the contingent consideration liability related to our acquisition of ATV.

Adjusted(b) net loss attributable to DWA for the six months ended June 30, 2015 was ($33.5) million, or an adjusted(b) loss of ($0.40) per share.  Adjusted net loss reflects higher interest expense associated with a lease financing obligation associated with the Company’s headquarters, and higher debt balances, as well as a write-off of an equity method investment in the amount of $5.1 million in other expense (net).  Additionally, during the six months ended June 30, 2015 we recorded a provision for income taxes of $4.2 million and a $7.1 million expense related to the Company’s tax sharing agreement with a former stockholder.  This aggregate expense of $11.3 million resulted in the Company’s combined effective tax rate of (13.5%) for the six months ended June 30, 2015, compared to an aggregate benefit of $22.5 million or a combined effective tax rate of 27.8% in the prior year period.  Reported net loss attributable to DWA for the six months ended June 30, 2015 was ($93.4) million, or ($1.09) per share.

For the six months ended June 30, 2015, net cash provided by operating activities was $7.3 million, compared to net cash used in operating activities of ($66.4) million in the prior-year period. The main sources of cash from operating activities were How to Train Your Dragon 2’s worldwide home entertainment and international theatrical revenues, The Croods’ worldwide home entertainment revenues, Madagascar 3’s international television revenues, and to a lesser extent, the collection of worldwide television and home entertainment revenues from our other films.  In addition, cash provided by operating activities during the six months ended June 30, 2015 benefited from a higher amount of advances received for future deliveries of content.  Cash from operating activities in the six months ended June 30, 2015 included cash payments totaling $48.0 million related to the 2015 Restructuring Plan.

Also during the six months ended June 30, 2015, DWA amended its $400 million revolving credit facility, increasing the size of the committed facility to $450 million and extending the term through February 2020. DWA also entered into an agreement to sell its campus located in Glendale, California for $185.0 millionand concurrently leased it back from the purchaser.  Proceeds from the sale were used to repay outstanding borrowings on the Company’s revolving credit facility and for general corporate purposes.

As of June 30, 2015, DWA had $335.0 million of availability on its revolving credit facility and $122.2 million of unrestricted cash and cash equivalents on hand, bringing the Company’s total available liquidity to over $450 million.

On July 21, 2015, the original purchaser of the campus resold it for a total sale price of $215.0 million. Pursuant to a sharing agreement between the Company and such original purchaser, the Company was entitled to receive 50% of any increase in value from the original sale price of $185.0 million, net of expenses.  Accordingly, the Company received approximately $14.2 million from the original purchase following such resale.

Items related to the earnings press release for the second quarter of 2015 will be discussed in more detail on the Company’s earnings conference call later today.

Conference Call Information

DreamWorks Animation will host a conference call and webcast to discuss the results on Tuesday, August 4, 2015 at 1:30pm (PT) / 4:30pm (ET). Investors can access the call by dialing (800) 230-1059 in the U.S. and (612) 234-9959 internationally and identifying “DreamWorks Animation Quarterly Earnings Call” to the operator. The call will also be available via live webcast at ir.dreamworksanimation.com.

A replay of the conference call will be available shortly after the call ends on Tuesday, August 4, 2015. To access the replay, dial (800) 475-6701 in the U.S. and (320) 365-3844 internationally and enter 363930 as the conference ID number. Both the earnings release and archived webcast will be available on the Company’s website at ir.dreamworksanimation.com.

About DreamWorks Animation

DreamWorks Animation creates high-quality entertainment, including CG-animated feature films, television specials and series and live entertainment properties, meant for audiences around the world. The Company has world-class creative talent, a strong and experienced management team and advanced filmmaking technology and techniques. All of DreamWorks Animation’s feature films are produced in 3D. The Company has theatrically released a total of 31 animated feature films, including the franchise properties of Shrek, Madagascar, Kung Fu Panda, How to Train Your Dragon, Puss In Boots, and The Croods.

Caution Concerning Forward-Looking Statements

This document includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company’s plans, prospects, strategies, proposals and our beliefs and expectations concerning performance of our current and future releases and anticipated talent, directors and storyline for our upcoming films and other projects, constitute forward-looking statements. These statements are based on current expectations, estimates, forecasts and projections about the industry in which we operate and management’s beliefs and assumptions. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict.  Actual results may vary materially from those expressed or implied by the statements herein due to changes in economic, business, competitive, technological and/or regulatory factors, and other risks and uncertainties affecting the operation of the business of DreamWorks Animation SKG, Inc. These risks and uncertainties include: audience acceptance of our films, our dependence on the success of a limited number of releases each year, the increasing cost of producing and marketing feature films, piracy of motion pictures, the effect of rapid technological change or alternative forms of entertainment and our need to protect our proprietary technology and enhance or develop new technology. In addition, due to the uncertainties and risks involved in the development and production of animated feature projects, the release dates for the projects described in this document may be delayed. For a further list and description of such risks and uncertainties, see the reports filed by us with the Securities and Exchange Commission, including our most recent annual report on Form 10-K and our most recent quarterly reports on Form 10-Q. DreamWorks Animation is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions or otherwise.

 

DREAMWORKS ANIMATION SKG, INC.
CONSOLIDATED BALANCE SHEETS 
(Unaudited)
 June 30,   December 31, 
2015 2014
(in thousands, except par value
and share amounts)
Assets
Cash and cash equivalents $    122,202 $              34,227
Restricted cash 7,991 25,244
Trade accounts receivable, net of allowance for doubtful accounts 176,201 160,379
Receivables from distributors, net of allowance for doubtful accounts 216,151 271,256
Film and other inventory costs, net 847,379 827,890
Prepaid expenses 43,492 17,555
Other assets 51,391 40,408
Investments in unconsolidated entities 27,426 35,330
Property, plant and equipment, net of accumulated depreciation and amortization 148,768 180,607
Intangible assets, net of accumulated amortization 179,341 186,141
Goodwill 190,668 190,668
Total assets $ 2,011,010 $         1,969,705
Liabilities and Equity
Liabilities:
Accounts payable $      16,640 $                9,031
Accrued liabilities 161,133 190,217
Payable to former stockholder 10,224 10,455
Deferred revenue and other advances 80,075 33,895
Revolving credit facility 115,000 215,000
Lease financing obligation 183,601
Senior unsecured notes 300,000 300,000
Deferred taxes, net 17,976 16,709
Total liabilities 884,649 775,307
Commitments and contingencies
Equity:
DreamWorks Animation SKG, Inc. Stockholders’ Equity:
Class A common stock, par value $0.01 per share, 350,000,000 shares authorized, 106,021,861
and 105,718,014 shares issued, as of June 30, 2015 and December 31, 2014, respectively
1,060 1,057
Class B common stock, par value $0.01 per share, 150,000,000 shares authorized, 7,838,731
shares issued and outstanding, as of June 30, 2015 and December 31, 2014
78 78
Additional paid-in capital 1,188,532 1,172,806
Accumulated other comprehensive loss (1,785) (1,827)
Retained earnings 669,424 762,784
Less: Class A Treasury common stock, at cost, 28,061,010 and 27,884,524 shares, as of June
30, 2015 and December 31, 2014, respectively
(781,607) (778,541)
Total DreamWorks Animation SKG, Inc. stockholders’ equity 1,075,702 1,156,357
Non-controlling interests 50,659 38,041
Total equity 1,126,361 1,194,398
Total liabilities and equity $ 2,011,010 $         1,969,705

 

DREAMWORKS ANIMATION SKG, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
 Three Months Ended   Six Months Ended 
 June 30,   June 30, 
2015 2014 2015 2014
 (in thousands, except per share amounts) 
Revenues $ 170,782 $ 122,277 $ 337,312 $ 269,518
Operating expenses (income):
Costs of revenues 99,939 75,617 206,104 232,015
Selling and marketing 12,077 13,282 20,552 19,544
General and administrative 80,736 53,228 169,878 98,436
Product development 1,592 611 1,924 1,151
Change in fair value of contingent consideration (7,220) (4,720)
Other operating income (1,719) (2,317) (4,000) (3,989)
Operating loss (21,843) (10,924) (57,146) (72,919)
Non-operating income (expense):
Interest expense, net (7,564) (2,484) (13,898) (4,257)
Other income (expense), net 2,001 1,853 (3,465) 3,071
(Increase) decrease in income tax benefit payable to former stockholder (7,096) 1,695 (7,121) 2,622
Loss before loss from equity method investees and income
taxes
(34,502) (9,860) (81,630) (71,483)
Loss from equity method investees 2,775 3,467 9,137 6,727
Loss before income taxes  (37,277) (13,327) (90,767) (78,210)
Provision (benefit) for income taxes 1,762 2,601 4,162 (19,866)
Net loss (39,039) (15,928) (94,929) (58,344)
Less: Net loss attributable to non-controlling interests (456) (541) (1,569) (21)
Net loss attributable to DreamWorks Animation SKG, Inc. $ (38,583) $ (15,387) $ (93,360) $ (58,323)
Net loss per share of common stock attributable to
DreamWorks Animation SKG, Inc.
Basic and diluted net loss per share $     (0.45) $     (0.18) $     (1.09) $     (0.69)
Shares used in computing net loss per share
Basic and diluted 85,732 84,554 85,674 84,520

 

DREAMWORKS ANIMATION SKG, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS 
(Unaudited)
 Six Months Ended 
 June 30, 
2015 2014
 (in thousands) 
Operating activities
Net loss $ (94,929) $ (58,344)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Amortization and write-off of film and other inventory costs 182,239 206,493
Other impairments and write-offs 5,064
Amortization of intangible assets 7,049 6,436
Depreciation and amortization 20,957 2,349
Amortization of deferred financing costs 1,200 550
Stock-based compensation expense 10,727 8,421
Change in fair value of contingent consideration (4,720)
Revenue earned against deferred revenue and other advances (35,608) (32,584)
Income related to investment contributions (4,000) (3,989)
Loss from equity method investees 9,137 6,727
Deferred taxes, net 1,267 (26,590)
Changes in operating assets and liabilities, net of the effects of acquisitions:
Restricted cash 17,252
Trade accounts receivable (18,989) (15,691)
Receivables from distributors 53,169 70,315
Film and other inventory costs (179,791) (236,376)
Prepaid expenses and other assets (37,656) (14,412)
Accounts payable and accrued liabilities (23,547) (38,113)
Payable to former stockholder (231) (615)
Income taxes payable/receivable, net 107 7,353
Deferred revenue and other advances 93,924 56,355
Net cash provided by (used in) operating activities 7,341 (66,435)
Investing activities
Investments in unconsolidated entities (2,298) (13,365)
Purchases of property, plant and equipment (4,595) (17,653)
Acquisitions of character and distribution rights (51,000)
Acquisitions, net of cash acquired (12,605)
Net cash used in investing activities (6,893) (94,623)
Financing activities
Proceeds from stock option exercises 261
Deferred financing costs (6,286)
Purchase of treasury stock (3,066) (1,956)
Contingent consideration payment (335)
Borrowings from revolving credit facility 385,405 110,000
Repayments of borrowings from revolving credit facility (485,405) (10,000)
Proceeds from lease financing obligation 185,000
Repayments of lease financing obligation (1,399)
Capital contribution from non-controlling interest holder 15,000
Distributions to non-controlling interest holder (813)
Net cash provided by financing activities 88,101 98,305
Effect of exchange rate changes on cash and cash equivalents (574) (518)
Increase (decrease) in cash and cash equivalents 87,975 (63,271)
Cash and cash equivalents at beginning of period 34,227 95,467
Cash and cash equivalents at end of period $ 122,202 $  32,196
Non-cash investing activities:
Intellectual property and technology licenses granted in exchange for equity interest $     3,945 $    3,395
Services provided in exchange for equity interest 55 600
Total non-cash investing activities $     4,000 $    3,995
Supplemental disclosure of cash flow information:
Cash paid (refunded) during the period for income taxes, net $     2,897 $      (608)
Cash paid during the period for interest, net of amounts capitalized $   14,675 $    5,273

 

Non-GAAP Measures

In addition to the financial results reported in accordance with U.S. GAAP, we have provided the following non-GAAP measures: Adjusted Income/Loss and Adjusted EBITDA (collectively, “non-GAAP measures”). Adjusted Income/Loss and Adjusted EBITDA are not prepared in accordance with U.S. GAAP. We believe the use of these non-GAAP measures on a consolidated basis assists investors in comparing our ongoing operating performance between periods. Adjusted Income/Loss and Adjusted EBITDA provide a supplemental presentation of our operating performance and generally reflect adjustments for unusual or non-operational activities. We may not calculate Adjusted Income/Loss or Adjusted EBITDA in a manner consistent with the methodologies used by other companies. Adjusted Income/Loss and Adjusted EBITDA (a) do not represent our operating income or cash flows from operating activities as defined by U.S. GAAP; (b) in the case of Adjusted EBITDA, does not include all of the adjustments used to compute consolidated cash flow for purposes of the covenants applicable to the Company’s 6.875% Senior Notes due 2020 (the “Notes”); (c) are not necessarily indicative of cash available to fund our cash flow needs; and (d) should not be considered alternatives to net income, operating income, cash provided by operating activities or our other financial information as determined under U.S. GAAP. Our presentation of Adjusted Income/Loss and Adjusted EBITDA measures should not be construed as an implication that our future results will be unaffected by unusual items.

Adjusted Income / Loss Measures

On January 22, 2015, the Company announced its restructuring initiatives (the “2015 Restructuring Plan”) that are intended to refocus the Company’s core feature animation business. In connection with the 2015 Restructuring Plan, the Company made changes in its senior leadership team and also made changes based on its reevaluation of the Company’s feature film slate. The Company evaluates operating performance to exclude the effects of the charges related to the execution of the 2015 Restructuring Plan as it believes the restructuring-related charges do not correlate with the ongoing operating results of the Company’s business and were charges that resulted from significant decisions that were made in order to refocus the Company. As a result, the Company believes that presenting the Company’s Adjusted Operating Income/Loss, Adjusted Net Income/Loss Attributable to DWA and Adjusted Diluted Income/Loss per share (collectively, “Adjusted Income/Loss Measures”) will aid investors in evaluating the performance of the Company. The Company defines Adjusted Income/Loss Measures as net earnings (loss) adjusted to exclude the items within its Consolidated Statements of Operations that relate to its 2015 Restructuring Plan (as discussed further in the footnotes to the tables below).

The Company uses these Adjusted Income/Loss Measures to, among other things, evaluate the Company’s operating performance. These measures are among the primary measures used by management for planning and forecasting of future periods, and they are important indicators of the Company’s operational strength and business performance because they provide a link between profitability and operating cash flow. The Company believes these measures are relevant and useful for investors because they allow investors to view performance in a manner similar to the method used by the Company’s management and help improve investors’ understanding of the Company’s operating performance. In addition, the Company believes that these are among the primary measures used externally by the Company’s investors, analysts and industry peers for purposes of valuation and for the comparison of the Company’s operating performance to other companies in its industry.

Adjusted Income/Loss Measures Reconciliation

The following is a reconciliation of each of the Company’s GAAP measures (operating income/loss, net income/loss attributable to DreamWorks Animation SKG, Inc. and loss (or diluted earnings) per share) to the non-GAAP adjusted amounts. In addition, following this table is an additional reconciliation for adjusted general and administrative, which is a component of the Adjusted Income/Loss Measures.

 

DREAMWORKS ANIMATION SKG, INC.
ADJUSTED INCOME/LOSS RECONCILIATIONS
(Unaudited)
Three Months Ended Six Months Ended
June 30, 2015 June 30, 2015
 (in thousands, except per share amounts) 
Operating loss – as reported $        (21,843) $        (57,146)
Reverse 2015 Restructuring Plan charges:
Employee-related termination costs(1) 560 5,147
Relocation and other employee-related costs(2) 1,885 3,381
Accelerated depreciation and amortization charges(3) 10,853 20,132
Additional labor and other excess costs(4) 7,591 24,100
Total restructuring-related charges 20,889 52,760
Adjusted operating loss $              (954) $          (4,386)
Net loss attributable to DreamWorks Animation
SKG, Inc. – as reported
$        (38,583) $        (93,360)
Reverse 2015 Restructuring Plan charges:
Employee-related termination costs(1) 560 5,147
Relocation and other employee-related costs(2) 1,885 3,381
Accelerated depreciation and amortization charges(3) 10,853 20,132
Additional labor and other excess costs(4) 7,591 24,100
Total restructuring-related charges 20,889 52,760
Tax impact(5) 6,120 7,123
Adjusted net loss attributable to DreamWorks
Animation SKG, Inc.
$        (11,574) $        (33,477)
Loss per share – as reported $             (0.45) $             (1.09)
Reverse 2015 Restructuring Plan charges:
Employee-related termination costs(1) 0.01 0.06
Relocation and other employee-related costs(2) 0.02 0.04
Accelerated depreciation and amortization charges(3) 0.13 0.23
Additional labor and other excess costs(4) 0.09 0.28
Total restructuring-related charges 0.25 0.61
Tax impact(5) 0.07 0.08
Adjusted loss per share $             (0.13) $             (0.40)

 

DREAMWORKS ANIMATION SKG, INC.
ADJUSTED EXPENSE RECONCILIATION
(Unaudited)
Three Months Ended Six Months Ended
June 30, 2015 June 30, 2015
 (in thousands) 
General and administrative – as reported $          80,736 $       169,878
Reverse 2015 Restructuring Plan charges:
Employee-related termination costs(1) (560) (5,147)
Relocation and other employee-related costs(2) (1,885) (3,381)
Accelerated depreciation and amortization charges(3) (10,853) (20,132)
Additional labor and other excess costs(4) (7,591) (24,100)
Total restructuring-related charges (20,889) (52,760)
Adjusted general and administrative $          59,847 $       117,118
(1) Employee-related termination costs.    Employee-related termination costs consist of severance and benefits (including stock-based compensation) attributable to employees that were terminated in connection with the 2015 Restructuring Plan.
(2) Relocation and other employee-related costs.    Relocation and other employee-related costs primarily consist of costs to relocate employees from our Northern California facility to our Southern California facility.
(3) Accelerated depreciation and amortization charges.    Accelerated depreciation and amortization charges consist of the incremental charges we incurred as a result of shortened estimated useful lives of certain property, plant and equipment due to the decision to exit our Northern California facility.
(4) Additional labor and other excess costs.    Additional labor consists of costs related to excess staffing in order to execute the restructuring plans specifically related to changes in the feature film slate. These additional labor costs are incremental to our normal operating charges and are expensed as incurred. Other excess costs are those due to the closure of our Northern California facility and primarily relate to costs that we incurred to continue to operate the facility until we exit the facility.
(5) Tax Impact.    The tax impact of the non-GAAP adjustments is calculated at the Company’s combined effective tax rate of (29.3)% and (13.5)% for the three and six months ended June 30, 2015, respectively.

 

Adjusted EBITDA

In connection with our issuance of the Notes on August 14, 2013, we began to use Adjusted EBITDA to provide investors with a measure of our ability to make our interest payments on the Notes. We define Adjusted EBITDA as net income before provision for income taxes, loss from equity method investees, increase/decrease in income tax benefit payable to former stockholder, other income (net), interest income (net), other non-cash operating income, depreciation and amortization, stock-based compensation expense, impairments and other charges and certain components of amortization of film and other inventory costs (refer to the reconciliation below). Although the indenture governing the Notes does not include covenants based on Adjusted EBITDA, we believe our investors and noteholders use Adjusted EBITDA as one indicator of our ability to comply with our debt covenants as it is similar to the consolidated cash flow measure described in the indenture (refer to our Current Report on Form 8-K filed on August 14, 2013). Although consolidated cash flow is not a financial covenant under the indenture, it is a measure that is used to determine our ability to make certain restricted payments and incur additional indebtedness in accordance with the terms of the indenture.

Adjusted EBITDA Reconciliation

We believe that net income is the most directly comparable U.S. GAAP measure to Adjusted EBITDA. Accordingly, the table below presents a reconciliation of net income (or loss) to Adjusted EBITDA. The reconciliation also includes a further reconciliation of Adjusted EBITDA to exclude the charges associated with the 2015 Restructuring Plan (as described above). Lastly, as Adjusted EBITDA is also used as a liquidity measure, the table also presents a reconciliation of Adjusted EBITDA to cash flow provided by (used in) operating activities.

 

DREAMWORKS ANIMATION SKG, INC.
ADJUSTED EBITDA RECONCILIATIONS
(Unaudited)
 Three Months Ended   Six Months Ended 
 June 30,   June 30, 
2015 2014 2015 2014
 (in thousands) 
Reconciliation of Net Loss to Adjusted EBITDA:
Net loss $ (39,039) $ (15,928) $ (94,929) $ (58,344)
Provision (benefit) for income taxes 1,762 2,601 4,162 (19,866)
Loss from equity method investees 2,775 3,467 9,137 6,727
Increase/decrease in income tax benefit payable to former stockholder 7,096 (1,695) 7,121 (2,622)
Other income/expense, net (2,001) (1,853) 3,465 (3,071)
Interest expense, net 7,564 2,484 13,898 4,257
Operating loss (21,843) (10,924) (57,146) (72,919)
Income related to investment contributions (1,719) (2,317) (4,000) (3,989)
Amounts included in amortization of film and other inventory costs(1) 9,655 5,245 22,133 14,066
Film impairments 933 57,074
Depreciation and amortization(2) 10,655 4,450 28,006 8,685
Stock-based compensation expense 6,328 3,112 10,727 8,421
Adjusted EBITDA $    3,076 $      (434) $       653 $  11,338
Reconciliation of Adjusted EBITDA to exclude 2015 Restructuring Plan:
Reverse 2015 Restructuring Plan charges(4):
Employee-related termination costs $       560 $            – $    5,147 $            –
Relocation and other employee-related costs 1,885 3,381
Accelerated depreciation and amortization charges 10,853 20,132
Additional labor and other excess costs 7,591 24,100
Total restructuring-related charges 20,889 52,760
Adjusted EBITDA (excluding 2015 Restructuring Plan) $  23,965 $      (434) $  53,413 $  11,338
Reconciliation of Adjusted EBITDA to Cash Provided by (Used in) Operating Activities:
Adjusted EBITDA $    3,076 $      (434) $       653 $  11,338
Amortization and write-off of film and other inventory costs(3) 79,232 55,836 159,173 135,353
Revenue earned against deferred revenue and other advances (19,139) (16,396) (35,608) (32,584)
Change in fair value of contingent consideration (7,220) (4,720)
Other income/expense, net 2,001 1,853 (3,465) 3,071
Other impairments and write-offs 5,064
Interest expense, net (7,564) (2,484) (13,898) (4,257)
Net (payments of) refund from income taxes and stockholder payable (1,448) 1,101 (10,241) 2,599
Changes in certain operating asset and liability accounts (50,379) (86,204) (94,337) (177,235)
Cash provided by (used in) operating activities $    5,779 $ (53,948) $    7,341 $ (66,435)
(1) Amortization and write-offs of film and other inventory costs in any period include depreciation and amortization, interest expense and stock-based compensation expense that were capitalized as part of film and other inventory costs in the period that those charges were incurred. For purposes of Adjusted EBITDA, we add back the portion of amortization and write-offs of film and other inventory costs that represents amounts previously capitalized as depreciation and amortization, interest expense and stock-based compensation expense.
(2) Includes those amounts pertaining to the amortization of intangible assets that are classified within costs of revenues.
(3) Represents the remaining portion of amortization and write-off of film and other inventory costs not already included in Adjusted EBITDA (refer to reconciliation of net income (or loss) to Adjusted EBITDA).
(4) Refer to footnotes in the Adjusted Income/Loss Measures Reconciliation section for a description of these adjustments.