Propel Media, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
August 17, 2015 at 01:30 pm
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Propel Media, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues were $19.455 million against $20.98 million a year ago. Operating income was $3.31 million against $7.26 million a year ago. Loss before income taxes was $0.625 million against income of $7.26 million a year ago. Net income was $0.076 million against $7.26 million a year ago. Diluted earnings per share were nil against $0.05 a year ago. Proforma net loss was $0.376 million against income of $4.363 million a year ago. Proforma earnings per diluted share were nil against $0.03 a year ago. Adjusted EBITDA was $4.15 million against $7.58 million a year ago. Adjusted EBITDA was negatively impacted by a $701,000 tax benefit for the quarter as part of the approximately $35 million deferred tax asset from the Kitara-Future Ads merger in January 2015.
For the six months, the company reported revenues were $40.95 million against $45.65 million a year ago. Operating income was $7.97 million against $15.56 million a year ago. Income before income taxes was $1.62 million against income of $15.56 million a year ago. Net income was $33.65 million against $15.56 million a year ago. Diluted earnings per share were $0.14 against $0.10 a year ago. Proforma net loss was $0.975 million against income of $9.352 million a year ago. Proforma earnings per diluted share were nil against $0.06 a year ago. Adjusted EBITDA was $9.334 million against $16.204 million a year ago.
Propel Media, Inc. (Propel) is a holding company for Propel Media LLC (Propel Media) and Kitara Media Corp. (Kitara). Propel is a diversified online advertising company. Propel is engaged in the sale of advertising and reaching consumers in the United States and internationally to promote their products and services. The Propel Media Ad Marketplace connects digital marketers with audiences through real-time intent-based technology. Its platform also utilizes various ad platforms in order to access inventory for its media buys.