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Wilhelmina International, Inc. (Nasdaq: WHLM) is a leading global fashion model and talent management agency. Established in 1967 by the renowned model Wilhelmina Cooper, the company has grown to be one of the oldest and largest in the industry. Headquartered in New York, Wilhelmina operates in major cities including Los Angeles, Miami, London, and Chicago, offering a full spectrum of representation services for models, celebrities, artists, photographers, athletes, and content creators.
Wilhelmina's core business involves traditional, full-service fashion model and talent management services. The agency connects top talent with a variety of clients, including retailers, designers, advertising agencies, and media companies. Additionally, Wilhelmina provides fashion modeling and talent endorsement services to clients such as branded consumer goods companies, fashion designers, magazine publications, retailers, department stores, and online platforms.
The company owns Aperture, a talent and commercial agency based in New York and Los Angeles, broadening its reach and service offerings. Known for its professional and comprehensive approach, Wilhelmina has built a robust portfolio of successful partnerships and projects.
Recent financial results reflect the company's ongoing growth and challenges. For the three months ending March 31, 2024, Wilhelmina reported revenues of $4.2 million and a net income of $0.1 million. While there was a slight decrease in revenues compared to the same period in the previous year, the company continues to maintain a positive net income, indicating resilient operational performance.
Wilhelmina's financial condition is characterized by careful management and strategic investments, as evidenced by the reported changes in EBITDA and Adjusted EBITDA. The company aims to enhance its market position and expand its talent base while adapting to the dynamic nature of the fashion and entertainment industries.
For more detailed information and the latest updates, please visit www.wilhelmina.com and follow their social media channels on Facebook, Twitter, and Instagram @wilhelminamodels.
Wilhelmina International (NASDAQ:WHLM) has announced its voluntary delisting from the Nasdaq Capital Market. The company filed Form 25 on December 20, 2024, for the removal of listing and deregistration under Section 12(b) of the Securities Exchange Act of 1934. The expected final trading day on Nasdaq is around December 31, 2024.
After delisting, trading of Wilhelmina's Common Stock will be to privately negotiated sales and potentially over-the-counter markets if brokers make a market in the shares. However, there is no guarantee of continued trading or broker market-making activities.
Wilhelmina International (Nasdaq: WHLM) reported its first-quarter 2024 financial results, showing a decline in overall performance. Revenues dropped to $4.2 million, a 7% decrease from Q1 2023. Net income fell to $0.1 million, or $0.02 per diluted share, compared to $0.2 million, or $0.03 per diluted share, from the previous year. The drop in revenues was attributed to decreased commissions in the company’s core modeling and Aperture divisions. Operating income saw a significant decline of 68.1% to $73,000. Additionally, Gross Billings fell by 10% to $15.8 million. The company experienced a 58% drop in EBITDA and a 57.9% decline in Adjusted EBITDA. While office and general expenses decreased by 22.7%, salaries and service costs rose by 3.0%. Corporate overhead expenses also increased by 3.7%.
Wilhelmina International (WHLM) reported its financial results for the year ended December 31, 2022, showcasing annual revenues of $17.8 million, a 10.4% increase from 2021. Operating income reached $2.4 million, the highest since 2014, while gross billings surged to $70 million, a 17.9% rise year-over-year. Despite these gains, Q4 revenues fell by 4.7% to $4.1 million due to declining core modeling bookings in major markets. Net income for the year was $3.5 million, down 21.9% from 2021, impacted by the release of a $1.5 million valuation allowance on deferred tax assets. The company's cash position improved, with $12 million in cash and equivalents at year-end.
Wilhelmina International (WHLM) reported third-quarter 2022 revenues of $16.3 million, up 7.6% year-over-year, and net income of $1.9 million, a 63.7% increase from $1.2 million in Q3 2021. Total revenues for the year-to-date reached $50.5 million, a 21.4% increase from $41.6 million last year. However, operating income decreased by 34.1% to $671,000, while net income for the nine months fell 21.1%. A significant factor was a $1.5 million tax benefit from a released valuation allowance on deferred tax assets, countering earlier gains from PPP loans and tax credits.
Wilhelmina International reported Q2 2022 revenues of $17.6 million, up 21.3% from Q2 2021. Net income was $0.9 million, a decrease of 17.8%. Year-to-date revenues reached $34.2 million, a 29.3% increase, while net income dropped 50.3% to $1.7 million. The rise in revenue is attributed to increased bookings post-COVID-19 restrictions. However, net income was negatively impacted by losses on foreign exchange and higher salaries following previous salary reductions.
Wilhelmina International, Inc. (NASDAQ: WHLM) reported first-quarter financial results for 2022, showing total revenues of $16.6 million, a 39% increase from $12.0 million in Q1 2021. However, net income dropped to $0.7 million, down 66.7% from $2.2 million the previous year. The decline was attributed to prior year gains from COVID-19 relief programs. Operating income improved to $0.9 million, while Adjusted EBITDA soared 167.8% to $1.0 million. Salaries and service costs rose significantly, and total assets stood at $37.2 million, a slight decrease from $37.4 million in the previous quarter.
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