Rosetta Stone Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Cash Flow Guidance for the Third Quarter 2018
Rosetta Stone Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total revenue of $42,808,000 compared to $47,693,000 a year ago. Loss from operations was $5,655,000 compared to income from operations of $945,000 a year ago. Loss before income taxes was $5,941,000 compared to income before income taxes of $1,154,000 a year ago. Net loss was $6,402,000 compared to net income of $454,000 a year ago. Loss per basic and diluted share was $0.29 compared to earnings per basic and diluted share of $0.02 a year ago. Net cash used in operating activities was $418,000 compared to net cash provided by operating activities of $5,756,000 a year ago. Purchases of property and equipment was $3,948,000 compared to $2,313,000 a year ago. Adjusted LBITDA was $1,290,000 compared to adjusted EBITDA of $5,155,000 a year ago.
The company expects that the majority of the company's second half positive cash flow will be generated in the third quarter 2018.