Propel Media, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Reports Impairment Charges for the First Quarter Ended March 31, 2016
Propel Media, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. The Company achieved revenue of $15.3 million and adjusted EBITDA of $3.2 million in its 2016 first quarter. Operating income was $2,153,000 compared to $4,655,000 a year ago. Loss before income tax benefit was $1,083,000 compared to income before income tax benefit of $2,248,000 a year ago. Net loss was $663,000 compared to net income of $33,572,000 a year ago.
For the first quarter ended March 31, 2016, the company reported Impairment of software and video library were $183,000.