Excel Corporation Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2017
Excel Corporation reported consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported revenues of $4,014,048 against $4,019,658 a year ago. Operating income from continuing operations was $14,585 against $544,892 a year ago. Net loss from continuing operations was $670,402 against income of $216,276 a year ago. Net loss was $670,402 against $1,971,394 a year ago. Net loss was $0.007 against $0.02 a year ago. EBITDA was $226,556 against $748,797 a year ago. Revenues were negatively impacted by approximately $92,000 in losses caused by fraud by a single merchant as well as an additional $65,000 related to third-party fraud, which have otherwise been infrequent.