SFX Shares Drop After Report

SFX Entertainment stock tumbled by as much as 20 percent before rebounding somewhat in the hours after reporting financial earnings for the fourth quarter and year-end periods March 27, perhaps owing in part to the reported behavior of CEO Robert Sillerman before the earnings call.

The festival and EDM company reported a net loss of 48 cents a share in Q4, missing Thomson Reuters expectations of net income of 6 cents per share.

Quarterly revenue of $84.16 million also fell well short of estimates of $112.85 million, according to TheStreet.com. SFX shares have lost more than 40 percent of value since the company’s mid-October IPO.

Results were released with a typically rosy statement from Sillerman.

“Our operating and financial accomplishments in 2013 and 2014 to date are a gratifying testimonial to our people and our vision,” Sillerman is quoted in a company press release.

Sillerman said the compnay has scheduled “in excess” of 65 major festivals, a 20 percent increase from 2013.

The market responded with a thud – shares dipped to as low as $5.70 at one point during the conference call.

Shares were trading at $8.70 just 12 minutes before the earnings call began at 10 a.m. EDT.

At the end of trading, shares had risen somewhat to $6.81 but finished with a nearly 12 percent drop for the day. But the steep decline coincided with an allegedly profanity-laced earnings call during which an analyst reportedly questioned Sillerman’s sanity.

The remarks were said to be triggered by a video of the roll-up king posted earlier in the week on Instagram, showing Sillerman decked out in a sideways baseball cap, large gold chain and dollar-sign medallion and gesturing with his middle finger.

“We just want to make sure you are still sane,” the analyst reportedly said during the call.