Billing Services Group Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2016; Provides Earnings Guidance for the Second Half and Year Ending December 31, 2016
September 22, 2016 at 02:00 am
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Billing Services Group Limited reported unaudited consolidated earnings results for the six months ended June 30, 2016. For the period, operating revenue was $16,237,000 against $18,793,000 a year ago. EBITDA was $2,976,000 against $3,283,000 a year ago. Operating income was $1,648,000 against $1,929,000 a year ago. Income from operations before income taxes was $4,243,000 against $6,824,000 a year ago. Net income was $3,445,000 or $0.01 per basic and diluted share against net loss of $5,953,000 or $0.02 per basic and diluted share a year ago. Purchases of property, equipment and software were $321,000 against $912,000 a year ago. Net cash used in operating activities was $2,853,000 against net cash provided by operating activities 3,554,000 a year ago. The company invested $0.3 million in capital expenditures, primarily for capitalized software development costs. During the first half of 2015, capital expenditures were $0.9 million.
For the second half of 2016, the company expects that revenues will continue to be affected by the secular decline in billable long distance and operator service calls initiated on landline phones, partially offset by revenue gains from services to the wireless market.
For the year ending December 31, 2016, the company updates its guidance and now expects revenues to be within a range of $30.5 million to $32.5 million, and EBITDA to be within a range of $4.8 million to $5.2 million, with current trends toward the lower end of each range.
Billing Services Group Ltd is a United States-based company that is engaged in providing clearing and financial settlement products, wireless fidelity (Wi-Fi) roaming solutions to mobile carriers and network operators, and third-party verification services to the telecommunications, cable and utilities industries. The Company offers a financial clearinghouse services for merchants, online stores and telecommunications companies. Its services include Local Exchange Carrier phone clearing, billing and settlement solutions, toll clearing services, a Wi-Fi wholesale settlement solution and VoiceLog third party verification. It provides VoiceLog services to industries, including healthcare companies, health insurance, online and retail merchants, call centers, credit card companies, insurance, alarm companies and energy suppliers. It offers clearinghouse services, including billing, management, and reporting services for providers of residential and commercial long-distance calls.
Billing Services Group Limited Reports Unaudited Consolidated Earnings Results for the Six Months Ended June 30, 2016; Provides Earnings Guidance for the Second Half and Year Ending December 31, 2016