Excel Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016; Provides Earnings Guidance for the Year 2016
Excel Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2016. The company revenues for the first quarter ended March 31, 2016 were $4,019,658 against $1,153,709 a year ago. Operating income from continuing operations of $544,892 against $534,969 a year ago. After increased interest expense primarily related to the Calpian transaction, the company recorded net income from continuing operations of $216,276 against $456,065 a year ago. Net loss was $1,971,394 against $523,940 a year ago. Loss per share - basic & diluted was $0.020 against $0.005 a year ago.
For the balance of 2016, the company's expect to see sustained positive income from continuing operations.