Teligent, Inc. Announces Unaudited Consolidated Financial Results for the First Quarter Ended March 31, 2017; Provides Earnings Guidance for the Full Year Ending December 31, 2017
Teligent, Inc. announced unaudited consolidated financial results for the first quarter ended March 31, 2017. For the quarter, the company reported total product sales, net of $19.853 million against $15.422 million a year ago. Total revenues were $19.891 million against $15.657 million a year ago. Operating income was $2.967 million against $0.837 million a year ago. Income before income tax expense was $0.914 million against loss of $0.928 million a year ago. Net income was $0.831 million against loss of $0.950 million a year ago. Basic and diluted earnings per share were $0.02 against loss per share of $0.02 million a year ago. Net cash used in operating activities was $0.897 million against net cash from operating activities of $1.752 million a year ago. EBITDA was $5.128 million against $3.269 million a year ago. Adjusted EBITDA was $4.892 million against $2.812 million a year ago. Adjusted EBITDA, before product development and research expenses was $8.560 million against $6.523 million a year ago. Adjusted net income was $3.646 million against $1.325 million a year ago. Non-GAAP adjusted net income per diluted share was $0.07 against $0.02 a year ago.
For the full year ending December 31, 2017, the company expects total revenue between $85 and $100 million for the year ending December 31, 2017. The company anticipates gross margin of 50% to 54% for the year ending December 31, 2017.