Intermolecular, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported total revenues of $8,089,000 compared with $11,729,000 for the same period a year ago. Operating loss was $2,994,000 compared with $4,126,000 for the same period a year ago. Loss before provision for income taxes was $2,854,000 compared with $3,987,000 for the same period a year ago. Net loss was $2,854,000 or $0.06 per basic and diluted share compared with $3,988,000 or $0.08 per basic and diluted share for the same period a year ago. Non-GAAP operating loss was $2,672,000 compared with $3,198,000 for the same period a year ago. Non-GAAP net loss was $2,532,000 or $0.06 per basic and diluted share compared with $3,060,000 or $0.08 per basic and diluted share for the same period a year ago. Adjusted LBITDA was $968,000 compared with $1,247,000 a year ago.

For the six months, the company reported total revenues of $18,033,000 compared with $26,247,000 for the same period a year ago. Operating loss was $8,982,000 compared with $5,852,000 for the same period a year ago. Loss before provision for income taxes was $8,690,000 compared with $5,665,000 for the same period a year ago. Net loss was $8,691,000 or $0.18 per basic and diluted share compared with $5,669,000 or $0.11 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $1,556,000 compared with net cash provided by operating activities of $121,000 for the same period a year ago. Purchase of property and equipment was $521,000 compared with $1,786,000 for the same period a year ago. Non-GAAP operating loss was $8,004,000 compared with $3,803,000 for the same period a year ago. Non-GAAP net loss was $7,713,000 or $0.18 per basic and diluted share compared with $3,620,000 or $0.11 per basic and diluted share for the same period a year ago. Adjusted LBITDA was $2,878,000 compared with adjusted EBITDA was $135,000 a year ago.

The company provided earnings guidance for the second half 2017. For the quarter, the company projects revenue in the range of $18.0 million to $18.5 million, GAAP net loss is projected between $4.1 million and $4.8 million, or between $0.08 to $0.10 per share, on approximately 49.6 million shares outstanding, non-GAAP net loss, which excludes stock-based compensation expense, is projected between $3.5 million and $4.2 million, or between $0.07 to $0.08 per share and adjusted EBITDA is projected to be between $0.5 million and $1.2 million. For the second half of 2017, the company expects non-GAAP gross margins of approximately 65% plus or minus 1%.