Electronic Cigarettes International Group, Ltd. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015
November 09, 2015 at 04:01 pm EST
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Electronic Cigarettes International Group, Ltd. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net sales of $15,401,000 against $15,902,000 a year ago. Loss from operations was $4,125,000 against income from operations of $20,883,000 a year ago. Income before income taxes was $9,533,000 against $45,171,000 a year ago. Net income was $9,229,000 or $0.09 per diluted share against $41,415,000 or $6.19 per diluted share a year ago. EBITDA was $15,738,000 against $54,664,000 a year ago. Adjusted LBITDA was $718,000 against $10,400,000 a year ago.
For the nine months, the company reported net sales of $38,505,000 against $31,328,000 a year ago. Loss from operations was $28,689,000 against $63,751,000 a year ago. Loss before income taxes was $14,742,000 against $63,857,000 a year ago. Net loss was $15,490,000 or $0.30 per basic and diluted share against $43,076,000 or $8.87 per basic and diluted share a year ago. EBITDA was $49,305,000 against LBITDA of $39,131,000 a year ago. Adjusted LBITDA was $6,650,000 against $18,563,000 a year ago.
Electronic Cigarettes International Group Ltd is a United States-based company. The Company is an independent marketer and distributor of vaping products and e-cigarettes. The e-cigarettes are battery-powered products that simulate tobacco smoking through inhalation of nicotine vapor without the fire, flame, tobacco, tar, carbon monoxide, ash, stub, smell and other chemicals found in traditional combustible cigarettes. The Company accommodates the various product preferences of e-cigarette users by offering a set of products, including disposables, rechargeables, tanks, starter kits, e-liquids, open and closed-end vaping systems and accessories. Its products consist of components and nicotine liquids. Its global brand portfolio includes the FIN, VIP, VAPESTICK, E-CIG, PRO VAPOR and VICTORIA brands. The Company offers E-cigarette cartridges in a range of flavors.
Electronic Cigarettes International Group, Ltd. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015