Emerald Expositions has posted a net loss of $90 million in the fourth quarter of 2018, due to impairment charges related to certain trade names and customer-related intangible assets.
According to SBG Media, Emerald, the parent company of the International Fastener Expo, attributed the Q4 loss to a non-cash charge of $104.3 million related to the impairment of certain intangible assets. During the same period in 2017, Emerald posted a net income of $40.3 million.
The report also stated that net cash provided by operating activities decreased by 15.1% to $35.4 million, compared to $41.7 million for Q4 last year. Although, revenues did increase significantly by 81% to $57.0 million, compared to $31.5 million for the same period in 2017.
The report also posted the company’s performance for the year. For the entirety of 2018, revenues increased 11.4% to $380.7 million, compared to $341.7 million for 2017. However, Emerald posted a net loss of $25.1 million in stark contrast to a net income of $81.8 million last year.
The 2019 International Fastener Expo (IFE) is pitched as the largest B2B tradeshow of every type of fastener, machinery and tooling, and industrial-related products in North America.
IFE has been scheduled to take place a month earlier than usual, this year running 17-19 September 2019, at the Mandalay Bay Convention Centre.
More than 80% of past exhibitors, including Bristol Machine Company, Heartland Tool Supply, and American Belleville are set to return in 2019, while Gemtex Abrasives, Riverhawk, Raptor Composite Fasteners and more will be exhibiting for the first time.