GlyEco, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
The company's Net Sales were $3.38 million for the six months ended June 30, 2015 compared to $3.26 million for the same period ended June 30, 2014, an increase of $0.12 million or 3.8%. Operating loss for the six months ended June 30, 2015 improved by $0.24 million to negative $1.97 million, an improvement of 11.0% when compared to the negative $2.21 million of operating loss for the same period ended June 30, 2014. Net loss available to common shareholders for the six months ended June 30, 2015 improved by $2.49 million to negative $2.05 million, an improvement of 54.8% when compared to the negative $4.54 million of net loss available to common shareholders for the same period ended June 30, 2014. Basic loss per share for the six months ended June 30, 2015 was $0.03 compared to basic loss per share of $0.09 for the same period ended June 30, 2014. Adjusted EBITDA (non-GAAP) for the six months ended June 30, 2015 improved 22.2% to negative $936,065 from negative $1,203,263 in the same period ended June 30, 2014. Loss before provision for income Taxes was $2,054,552 against $2,303,770 a year ago.