Vaso Corporation reported earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported revenue of $17,853,000 compared to $18,214,000 a year ago. Operating loss was $709,000 compared to operating income of $264,000 a year ago. Loss before taxes was $876,000 compared to income before taxes of $162,000 a year ago. Net loss was $987,000 compared to net income of $213,000 a year ago. Adjusted LBITDA was $24,000 compared to adjusted EBITDA of $886,000 a year ago. Revenue decreased by $0.3 million as compared to the same period in the prior year, principally due to a decrease in revenue in the professional sales service segment as a result of a lower equipment deliveries in the quarter by partner.

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.