Propel Media, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Reports Impairment Charges for the First Quarter Ended March 31, 2017
May 12, 2017 at 06:26 pm
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Propel Media, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. Revenues were $18,632,000 against $15,323,000 a year ago. Operating income was $6,734,000 against $2,153,000 a year ago. Income before income tax expense was $3,823,000 against loss of $1,083,000 a year ago. Net income was $2,398,000 or $0.01 per basic and diluted a year ago. Revenues, adjusted EBITDA and operating income grew by 21.6%, 130.0% and 213.8%, respectively, for first quarter 2017 as compared to first quarter 2016. Additionally, adjusted EBITDA in first quarter 2017 increased sequentially over fourth quarter 2016 by 6.2%. These 2017 improvements were due to an increase in the size of the user audience, improved monetization of that user audience and reductions in operating costs. Adjusted EBITDA (a non-GAAP measure) was $7,409,000 against $3,228,000 a year ago.
For the quarter, the company reported impairment charges were $20,000 against $183,000 a year ago.
Propel Media, Inc. (Propel) is a holding company for Propel Media LLC (Propel Media) and Kitara Media Corp. (Kitara). Propel is a diversified online advertising company. Propel is engaged in the sale of advertising and reaching consumers in the United States and internationally to promote their products and services. The Propel Media Ad Marketplace connects digital marketers with audiences through real-time intent-based technology. Its platform also utilizes various ad platforms in order to access inventory for its media buys.
Propel Media, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2017; Reports Impairment Charges for the First Quarter Ended March 31, 2017