Propel Media, Inc. Reports Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended Sep. 30, 2015
November 13, 2015 at 08:00 am EST
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Propel Media, Inc. reported unaudited consolidated financial results for the third quarter and nine months ended Sep. 30, 2015. The company announced revenue of $19.1 million against $20,587,000 for the same period of last year. Operating income was $5,054,000 against $7,085,000 for the same period of last year. Income before income tax was $1,409,000 against $7,085,000 for the same period of last year. Net income was $437,000 against $7,085,000 for the same period of last year. Net income per basic and diluted share was $0.00 against $0.05 for the same period of last year. Adjusted EBITDA (non-GAAP) was $5,960,000 against $7,419,000 for the same period of last year.
For the nine months, revenues were $60,052,000 against $66,237,000 for the same period of last year. Operating income was $13,021,000 against $22,647,000 for the same period of last year. Income before income tax was $3,032,000 against $22,646,000 for the same period of last year. Net income was $34,085,000 against $22,646,000 for the same period of last year. Net income per basic a nd diluted share was $0.14 against $0.15 for the same period of last year. Adjusted EBITDA (non-GAAP) was $15,294,000 against $23,623,000 for the same period of last year. The company's profitability was up significantly over the second quarter of 2015 due to the ability to improve advertiser performance metrics.
Propel Media, Inc. (Propel) is a holding company for Propel Media LLC (Propel Media) and Kitara Media Corp. (Kitara). Propel is a diversified online advertising company. Propel is engaged in the sale of advertising and reaching consumers in the United States and internationally to promote their products and services. The Propel Media Ad Marketplace connects digital marketers with audiences through real-time intent-based technology. Its platform also utilizes various ad platforms in order to access inventory for its media buys.