Vaso Corporation Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Earnings Guidance for the Year 2017
For the six months, the company reported revenue of $34,227,000 compared to $35,756,000 a year ago. Operating loss was $2,550,000 compared to operating income of $423,000 a year ago. Loss before taxes was $2,898,000 compared to income before taxes of $160,000 a year ago. Net loss was $3,118,000 compared to net income of $109,000 a year ago. Adjusted LBITDA was $1,080,000 compared to adjusted EBITDA of $1,597,000 a year ago. Net cash provided by operating activities was $1.4 million and $3.7 million for the six months ended June 30, 2017 and 2016, respectively.
The company expects to deliver another profitable year in 2017 and maintain a strong financial position as they continue to generate positive cash flow from operating activities.