Monotype Imaging Holdings Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. Revenue for the quarter increased 8% to $56.7 million, compared to $52.5 million for the first quarter of 2017. Net loss was $1.2 million, compared to a net loss of $1.1 million in the first quarter of 2017. Loss per diluted share was $0.03, the same as the prior year quarter. Non-GAAP net income was $8.9 million, compared to $6.5 million in the first quarter of 2017. Non-GAAP earnings per diluted share were $0.22 compared to $0.16 in the prior year period. Non-GAAP net adjusted EBITDA was $11.0 million, or 19% of revenue, compared to $9.4 million in the first quarter of 2017. The company generated $7.5 million of cash from operations in the first quarter of 2018, an increase of 34% year over year. Loss from operations was $2,838,000 against income of $75,000 a year ago. Loss before benefit from income taxes was $3,664,000 against $1,176,000 a year ago.

For the second quarter of 2018, the company expects revenue in the range of $57.0 to $61.0 million, non-GAAP net adjusted EBITDA of $11.0 to $14.0 million, GAAP earnings per diluted share of $0.00 to $0.03 and Non-GAAP earnings per diluted share of $0.09 to $0.12. It expects GAAP net income of $1,100,000, amortization of $700,000 and Non-GAAP net income of $3,600,000 to $4,700,000. Gross profit margin expected to be between 80% and 82%.

For the full year of 2018, the company expects revenue in the range of $243.0 to $251.0 million, non-GAAP net adjusted EBITDA of $59.5 to $66.5 million, GAAP earnings per diluted share of $0.10 to $0.15 and Non-GAAP earnings per diluted share of $0.47 to $0.52. It assumes 65% effective tax rate. It expects GAAP net income of $3,800,000 to $6,200,000, amortization of $2,600,000 and Non-GAAP net income of $18,900,000 to $21,300,000.