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.