Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2013

Quarterly Financial Data (Unaudited)

Quarterly Financial Data (Unaudited)

Note 12. Quarterly Financial Data (Unaudited)

(Amounts in thousands, except per share amounts)

	2013 Quarters Ended(a)
	March 31			June 30(b)			September 30			December 31
Net revenues	$	13,495		$	22,929		$	23,705		$	25,876
Operating (loss) income		(117	)		(1,292	)		4,110			5,019
Net (loss) income		(525	)		(2,426	)		(3,985	)		2,639
(Loss) earnings per share:
Basic	$	(525	)	$	(0.06	)	$	(0.09	)	$	0.06
Dilutive	$	(525	)	$	(0.06	)	$	(0.09	)	$	0.06

	2012 Quarters Ended
	March 31		June 30		September 30		December 31
Net revenues	$	13,505	$	17,228	$	17,544	$	23,091
Operating income		2,788		5,457		3,651		8,971
Net income		873		2,651		956		6,550
Earnings per share:
Basic	$	873	$	2,651	$	956	$	6,550
Dilutive	$	873	$	2,651	$	956	$	6,550

(a)

On April 4, 2013, the merger by and among Cinelatino, WAPA and Azteca providing for the combination of Cinelatino, WAPA and Azteca as indirect wholly-owned subsidiaries of Hemisphere (the "Transaction") was consummated. Although Hemisphere issued the equity interests in the Transaction, since it is a new entity formed solely to issue these equity securities to effect the Transaction, it would not be considered the acquirer, and one of the combining entities that existed before the Transaction must be identified as the acquirer. Based on the following, WAPA is the accounting acquirer and predecessor whose historical results are the results for Hemisphere. The operating results of the acquired businesses are included in the Company's consolidated financial statements as of the date of the Transaction.

(b)

As discussed in Note 1, the Company adjusted previously reported amounts.