Intermolecular, Inc. Reports Unaudited Consolidated Earnings Results for the March 31, 2017; Provides Earnings Guidance for the Second Quarter of 2017
In the first quarter, the company implemented a restructuring plan to reduce its cost structure. Included in first quarter results is a charge of $1.3 million in connection with the restructuring. Management estimates the restructuring will save the company approximately $1.8 million per quarter starting in the second quarter of 2017. As a result, the company expects to generate positive adjusted EBITDA at $10 million revenue per quarter.