Speed Commerce, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2015; Reports Goodwill and Intangible Impairment for the Third Quarter Ended September 30, 2015
November 16, 2015 at 07:45 pm EST
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Speed Commerce, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended September 30, 2015. For the quarter, the company reported total net revenues of $31,331,000 against $23,067,000 a year ago. Loss from operations was $22,547,000 against $1,995,000 a year ago. Loss from operations, before income tax were $26,707,000 against $1,763,000 a year ago. Net loss from continuing operations was $26,033,000 or $0.32 per share against $1,882,000 or $0.06 per share a year ago. Net loss was $25,909,000 against $1,519,000 a year ago. Diluted loss per common share was $0.32 against $0.05 a year ago. Adjusted LBITDA was $638,000 against adjusted EBITDA of $2,566,000 a year ago. Adjusted pro forma loss from operations was $4,319,000 against $1,098,000 a year ago. Adjusted pro forma loss before income tax from continuing operations was $7,870,000 against $749,000 a year ago. The increase in net revenue was due to the inclusion of Fifth Gear, which was acquired in the third quarter of fiscal 2015.
For the six months, the company reported total net revenues of $65,702,000 against $45,127,000 a year ago. Loss from operations was $24,184,000 against $4,699,000 a year ago. Loss from operations, before income tax were $27,947,000 against $5,133,000 a year ago. Net loss from continuing operations was $27,481,000 or $0.35 per share against $5,306,000 or $0.12 per share a year ago. Net loss was $27,532,000 against $12,302,000 a year ago. Diluted loss per common share was $0.35 against $0.23 a year ago. Adjusted EBITDA was $1,973,000 against $4,139,000 a year ago. Adjusted pro forma loss from operations was $4,820,000 against $2,745,000 a year ago. Adjusted pro forma loss before income tax was $11,345,000 against $3,723,000 a year ago.
For the quarter, the company reported goodwill and intangible impairment of $17,344,000.
Speed Commerce, Inc. is a single-source provider of omnichannel customer experience solutions and technology for ecommerce retailers and manufacturers. The Company specializes in ecommerce order fulfillment and contact center operations, assisting ecommerce retailers. Its cloud-based fulfillment platform for order and inventory management features integration with ecommerce platforms, and automatic order importing from online marketplaces, including Amazon, Magento, and Shopify. The Company offers a range of solutions, such as e-commerce customer service, fulfillment and warehousing, and client services. Its e-commerce customer services include inbound and outbound telephone support services, order processing, upselling, and cross-selling, email inquiries, outbound marketing campaigns, database scrubbing, and market research. Its fulfillment and warehousing solutions include receiving, picking and packing, shipping, inventory management, returns management, and cross-docking.
Speed Commerce, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended September 30, 2015; Reports Goodwill and Intangible Impairment for the Third Quarter Ended September 30, 2015