CORAL GABLES, FL - Dolphin Entertainment , Inc. (NASDAQ:DLPN) announced Tuesday that its shareholders have approved the appointment of Hilarie Bass as an independent director of the Board. The decision was made at Dolphin's Annual Meeting held on Monday.
Bass, a distinguished corporate advisor and nationally recognized litigator, brings over three decades of legal expertise to the Dolphin Board. She previously held the position of President at the global law firm Greenberg Traurig, where she represented several Fortune 500 companies. Her legal acumen is further evidenced by her past role as Chair of the Litigation Department and her membership in the American College of Trial Lawyers.
Beyond her legal career, Bass has been actively involved in leadership roles across various organizations. She has served as President of the American Bar Association and has chaired both the University of Miami Board of Trustees and the Board of United Way of Miami-Dade. Bass is also a member of the UHealth Board of Directors, the ABA Retirement Fund Board, and the American Bar Endowment.
In 2019, Bass founded the Bass Institute for Diversity and Inclusion, through which she has advocated for gender parity and the advancement of women in the corporate sphere.
Dolphin's CEO, Bill O'Dowd, expressed confidence in Bass's ability to contribute to the company's strategic vision and growth, citing her exceptional career and leadership in diversity and inclusion as key assets.
Dolphin Entertainment, established in 1996, operates through three divisions: Dolphin Entertainment, Dolphin Marketing, and Dolphin Ventures. The company has produced Emmy-nominated content and has expanded into public relations, influencer marketing, and business development in various industries.
The information in this article is based on a press release statement. Dolphin Entertainment has cautioned that this release contains forward-looking statements subject to risks and uncertainties that could cause actual results to differ materially from those anticipated. Dolphin Entertainment does not undertake any obligation to update forward-looking statements as a result of new information or future events.
In other recent news, Dolphin Entertainment has reported significant developments. The company has posted a second-quarter revenue of $11.4 million, marking a 4% increase year-over-year, and contributing to a first-half revenue of $26.6 million. Despite an adjusted operating loss of $100,000 for the quarter, Dolphin Entertainment achieved a positive adjusted operating income of $900,000 for the first half of the year. Maxim Group has adjusted the price target for Dolphin Entertainment from $6.00 to $4.00, maintaining a Buy rating on the stock.
The company's recent achievements include the acquisition of Elle Communications and the launch of the Staple Gin product. Dolphin Entertainment also has plans for expansion, particularly into the sports industry and live events. These strategic plans are expected to enhance the company's operational capabilities and create new revenue streams. According to Maxim Group, upcoming movie and product launches, plans for owned and co-owned live events, and the launch of a sports company could be potential catalysts for future growth.
InvestingPro Insights
Dolphin Entertainment, Inc. (NASDAQ:DLPN) has made a strategic move by appointing Hilarie Bass to its Board of Directors, aiming to leverage her extensive legal and leadership experience. As the company seeks to navigate its future, it's important for investors to consider various financial metrics and market dynamics that could influence Dolphin's performance.
One of the most notable InvestingPro Data points for Dolphin Entertainment is its impressive gross profit margin, which stands at a remarkable 93.92% for the last twelve months as of Q2 2024. This figure showcases the company's ability to maintain a high level of profitability in terms of its core operations, before accounting for administrative and other expenses. However, despite the high gross profit margin, Dolphin Entertainment operates with a significant debt burden, which is an important factor for investors to monitor.
The company's market capitalization is currently adjusted at 14.84 million USD, reflecting the market's valuation of the business. Furthermore, Dolphin Entertainment's stock price movements have been quite volatile, which may appeal to certain investors looking for short-term trading opportunities but could also signal caution for those seeking long-term stability.
InvestingPro Tips highlight that analysts do not anticipate Dolphin Entertainment will be profitable this year, and the company has not been profitable over the last twelve months. Additionally, the stock has fared poorly, with a 1-month price total return of -13.74% and a staggering 6-month price total return of -55.64%. These metrics underscore the challenges the company faces and the potential risks for investors.
For those interested in further insights and detailed analytics, InvestingPro offers additional tips on Dolphin Entertainment, Inc., which can be accessed for in-depth analysis and investment decision-making. With the latest appointment and the company's financial outlook, Dolphin Entertainment's journey is one to watch closely.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.