ATLANTA, Sept. 07, 2017 (GLOBE
NEWSWIRE) -- Concurrent (NASDAQ:CCUR), a global leader in
storage, protection, transformation, and delivery of visual media
assets, today announced financial results for its fourth quarter
and fiscal year ended June 30, 2017.
"During fiscal 2017, we transformed Concurrent
into a focused leader in video media storage and delivery creating
a solid foundation for growth," said Derek Elder, President and
CEO. "According to a recent industry report, by 2020 video will
account for 79% of all global internet traffic, creating a need for
a solution to manage the delivery and storage demands created by
this explosion of video traffic on the Internet. With our Content
Delivery and Aquari(TM) storage solutions, we are uniquely
positioned to capitalize on this large and growing market
opportunity.
"We are successfully executing on our growth
initiatives and have made significant progress with new technology
and channel partnerships, expanded customer relationships and new
customer design wins. As we move into the new fiscal year,
our continued top priority is to maintain a solid foundation for
steady, profitable growth. For fiscal 2018, we expect to generate
full year revenue growth of at least 10% year over year.
Additionally, we expect to generate breakeven to positive Adjusted
EBITDA for the year. We have a significantly strengthened balance
sheet, and our Board of Directors continues to evaluate strategies
to maximize shareholder returns," concluded Mr. Elder.
Financial
Results
With the sale of Concurrent's Real-Time business
during the fourth quarter of fiscal 2017, the company now reports
results from continuing operations, which excludes financial
results from the Real-Time business. Financial results from the
company's former Real-Time business are reported within
discontinued operations. The following financial results for the
current and prior periods are from Concurrent's continuing
operations.
Fiscal Fourth Quarter
Financial Results:
Total revenue for the fourth quarter was $7.8
million, compared to $7.4 million in the third quarter of fiscal
2017 and $8.8 million in the fourth quarter of fiscal
2016.
Total gross margin as a percentage of revenue was
56.2%, compared to 54.6% in the third quarter of fiscal 2017 and
65.2% for the fourth quarter of fiscal 2016.
Loss from continuing operations was $(1.0)
million, or $(0.10) per share, compared to loss from continuing
operations of $(3.2) million, or $(0.34) per share, in the third
quarter of fiscal 2017 and a loss from continuing operations of
$(9.5) million, or $(1.03) per share, in the fourth quarter of
fiscal 2016.
Adjusted EBITDA loss from continuing operations
was $(0.9) million, which included $1.0 million in severance
expenses in connection with reducing our operating expenses
subsequent to the sale of the Real-Time business, compared to an
Adjusted EBITDA loss from continuing operations of $(2.9) million
in the third quarter of fiscal 2017, which included $1.1 million in
transaction-related expenses and $0.4 million of severance
expenses, and an Adjusted EBITDA loss from continuing operations of
$(0.7) million in the fourth quarter of fiscal 2016. See "Non-GAAP
Financial Measurements" below for more information on the
calculation of Adjusted EBITDA from continuing operations,
including a reconciliation of Adjusted EBITDA to loss from
continuing operations.
Business
Highlights:
- Added nine new Aquari customers in
fiscal 2017, for a total of 18 at fiscal year end.
- Three Aquari customers expanded
usage in fiscal 2017.
- Added seven new Content Delivery
customers in fiscal 2017, for a total of 27 at fiscal year
end.
- Nine Content Delivery customers
expanded usage during fiscal 2017.
- Signed multiple new strategic
partnership agreements during the fiscal year, bringing the
company's total number of channel partners to 19. These new
partnerships include:
-- An OEM agreement with Hewlett Packard Enterprise (HPE),
that expands Concurrent's reach with telecommunications customer
that prefer HPE hardware
-- Technology alliances with Moonwalk Universal and Endavo
Media that expand Concurrent's reach into new use cases of video
archiving and over-the-top (OTT) video platform offerings
respectively
-- Channel partnership with Rincon Technology that increases
the sales breadth of Concurrent offerings to Rincon's 1000+
customers.
Fiscal 2017 Financial
Results
Total revenue for fiscal 2017 was $27.6 million,
compared to $32.0 million in fiscal 2016.
Gross margin was 55.0%, compared to 58.7% in
fiscal 2016.
Loss from continuing operations was $(11.1)
million, or $(1.20) loss per diluted share, compared to a loss from
continuing operations of $(12.7) million, or $(1.39) loss per
diluted share, in fiscal 2016.
Adjusted EBITDA loss from continuing operations
was ($10.0) million, which included $1.6 million in severance
expenses, compared to an Adjusted EBITDA loss from continuing
operations of ($7.2) million in fiscal 2016, which included $0.2
million of severance expenses. See "Non-GAAP Financial
Measurements" below for more information on the calculation of
Adjusted EBITDA loss from continuing operations, including a
reconciliation of Adjusted EBITDA loss from continuing operations
to loss from continuing operations, which we believe to be the most
directly comparable financial measure presented in accordance with
GAAP.
Cash, cash equivalents and short-term investments
were $42.8 million and working capital was $45.2 million as of June
30, 2017. The company continued to pay quarterly dividends of $0.12
per share in each of the four quarters of fiscal 2017. The company
has no debt.
Non-GAAP Financial
Measurements
To supplement the company's condensed consolidated
financial statements prepared in accordance with U.S. generally
accepted accounting principles ("GAAP"), this news release provides
information concerning the company's Adjusted EBITDA, a non-GAAP
financial measure. Reconciliations of Adjusted EBITDA to loss from
continuing operations, the most comparable GAAP financial measure,
can be found in tables immediately following the condensed
consolidated balance sheets.
For purposes of this news release, Adjusted EBITDA
is defined as GAAP loss from continuing operations, less interest
income and other income (expense), net, provision for income taxes,
depreciation and amortization expenses, share-based compensation
expense and gain on the sale of assets. The company considers
Adjusted EBITDA important to understanding its historical results
and identifying current and future trends impacting its business.
Management uses Adjusted EBITDA to compare the company's
performance to that of prior periods and evaluate the company's
financial and operating results on a consistent basis from period
to period. The company also believes this measure, when viewed in
combination with the company's financial results prepared in
accordance with GAAP, provides useful information to investors to
evaluate ongoing operating results and trends. The adjustments to
the company's GAAP results are made with the intent of providing
both management and investors a more complete understanding of the
company's underlying operational results, trends and performance.
Additionally, adjusted EBITDA is not intended to be a measure of
cash flow for management's discretionary use. We believe that the
inclusion of Adjusted EBITDA is appropriate to provide additional
information to investors because securities analysts, noteholders
and other investors use these non-GAAP financial measures to assess
our operating performance across periods on a consistent basis and
to evaluate the relative risk of an investment in our
securities.
Adjusted EBITDA has limitations as an analytical
tool, however, including the following:
- Although depreciation and
amortization are non-cash charges, the assets being depreciated and
amortized will often have to be replaced in the future and adjusted
EBITDA does not reflect any cash requirements for such
replacements;
- Adjusted EBITDA does not reflect our
cash expenditures, or future requirements for capital expenditures
or contractual commitments;
- Adjusted EBITDA does not reflect
changes in, or cash requirements for, our working capital
needs;
- Adjusted EBITDA does not reflect our
tax expense or any cash requirements to pay income taxes; and
- Adjusted EBITDA does not reflect the
impact of earnings or charges resulting from matters we do not
consider to be indicative of our ongoing operations, but may
nonetheless have a material impact on our results of
operations.
The presentation of Adjusted EBITDA is not meant
to be considered in isolation or as a substitute for or superior to
the company's financial results determined in accordance with GAAP.
In addition, the company's presentation of Adjusted EBITDA may not
be computed in the same manner as similarly titled measures used by
other companies, including other companies in our industry.
Conference Call
Information
Concurrent will host a conference call today,
Thursday, September 7 at 5:00 p.m. ET to review its fiscal 2017
fourth quarter and full year financial results. The call and
presentation materials will be webcast at www.concurrent.com,
on the "Investors" page, under the "Company" tab. The call can be
also be accessed live by dialing (800) 230-1059 (U.S.)
or (612) 234-9959 (International) and entering passcode
170907. A webcast replay will also be available
at www.concurrent.com.
About
Concurrent
Concurrent (NASDAQ:CCUR) is a global company that
develops software solutions focused on storing, protecting,
transforming, and delivering visual media assets. We enable the
world's leading innovators in visual media to entertain, inform,
and communicate, by providing the tools to help them unlock their
creativity and share it with the world. We accomplish this by
developing open software solutions that make the world's visual
media available online, when and where it is needed around the
world. Concurrent has offices located in North America, Europe and
Asia. Visit www.concurrent.com for further information and follow
us on Twitter: www.twitter.com/Concurrent_CCUR and
LinkedIn at www.linkedin.com/company/ccur.
Safe Harbor
Certain statements made or
incorporated by reference in this release may constitute
"forward-looking statements" within the meaning of the federal
securities laws. Statements regarding future events and
developments and the company's future performance, including, but
not limited to, management's expectations, beliefs, plans,
estimates, or projections relating to the future, are
forward-looking statements within the meaning of these laws. All
forward-looking statements are subject to certain risks and
uncertainties that could cause actual events to differ materially
from those projected.
The risks and uncertainties
which could affect our financial condition or results of operations
include, without limitation: the potential consolidation of the
markets that we serve;; delays or cancellations of customer orders;
non-renewal of maintenance and support service agreements with
customers; changes in product demand; economic conditions; various
inventory risks due to changes in market conditions; margins of the
content delivery business to capture new business; our ability to
reinvest the net proceeds from the sale of our Real-Time segment in
a manner that we believe will generate an adequate return to our
remaining business; fluctuations and timing of large content
delivery orders; uncertainties relating to the development and
ownership of intellectual property; uncertainties relating to our
ability and the ability of other companies to enforce their
intellectual property rights; the pricing and availability of
equipment, materials and inventories; the concentration of our
customers; failure to effectively manage change; delays in testing
and introductions of new products; the impact of reductions
in force on our operations; rapid technology changes; system errors
or failures; reliance on a limited number of suppliers and failure
of components provided by those suppliers; uncertainties associated
with international business activities, including foreign
regulations, trade controls, taxes, tariffs and currency
fluctuations; the impact of competition on the pricing of content
delivery products; failure to effectively service the installed
base; the entry of new, well-capitalized competitors into our
markets; the success of new content delivery products, including
acceptance of our new storage solutions; the success of our
relationships with technology and channel partners; capital
spending patterns by a limited customer base; the current
challenging macroeconomic environment; continuing unevenness of the
global economic recovery; global terrorism; privacy concerns over
data collection; our ability to utilize net operating losses to
offset cash taxes in the event of an ownership change as defined by
the Internal Revenue Service; earthquakes, tsunamis, floods and
other natural disasters in areas in which our customers and
suppliers operate; the process of evaluation of strategic
alternatives; and the availability of debt or equity financing to
support our liquidity needs.
Other important risk factors are
discussed in Concurrent's Form 10-K filed August 30, 2016 with the
Securities and Exchange Commission ("SEC"), and in subsequent
filings of periodic reports with the SEC. The risk factors
discussed in the Form 10-K and subsequently filed periodic reports
under the heading "Risk Factors" are specifically incorporated by
reference in this press release. Forward-looking statements are
based on current expectations and speak only as of the date of such
statements. Concurrent undertakes no obligation to publicly update
or revise any forward-looking statement, whether as a result of
future events, new information, or otherwise.
All Concurrent product names and
its logo are trademarks or registered trademarks of Concurrent
while all other product names are trademarks or registered
trademarks of their respective owners.
| |
| Concurrent Computer Corporation |
| Condensed Consolidated Statements of Operations
(Unaudited) |
| (In Thousands Except Share and Per Share
Data) |
| |
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
Three Months Ended June 30, |
|
Year Ended June 30, |
| |
|
|
|
|
2017 |
|
2016 |
|
2017 |
|
2016 |
| |
|
|
|
|
|
|
|
|
|
|
|
| Revenues: |
|
|
|
|
|
|
|
|
| |
Product |
|
$ |
5,248 |
|
|
$ |
6,034 |
|
|
$ |
17,141 |
|
|
$ |
22,044 |
|
| |
Service |
|
|
2,598 |
|
|
|
2,783 |
|
|
|
10,506 |
|
|
|
9,963 |
|
| |
|
|
Total revenues |
|
|
7,846 |
|
|
|
8,817 |
|
|
|
27,647 |
|
|
|
32,007 |
|
| Cost of sales: |
|
|
|
|
|
|
|
|
| |
Product |
|
|
2,234 |
|
|
|
1,858 |
|
|
|
7,632 |
|
|
|
8,544 |
|
| |
Service |
|
|
1,204 |
|
|
|
1,208 |
|
|
|
4,820 |
|
|
|
4,660 |
|
| |
|
|
Total cost of sales |
|
|
3,438 |
|
|
|
3,066 |
|
|
|
12,452 |
|
|
|
13,204 |
|
| Gross margin |
|
|
4,408 |
|
|
|
5,751 |
|
|
|
15,195 |
|
|
|
18,803 |
|
| Operating expenses: |
|
|
|
|
|
|
|
|
| |
Sales and marketing |
|
|
2,766 |
|
|
|
2,645 |
|
|
|
11,130 |
|
|
|
9,950 |
|
| |
Research and development |
|
|
2,096 |
|
|
|
2,292 |
|
|
|
8,233 |
|
|
|
10,549 |
|
| |
General and
administrative |
|
|
1,004 |
|
|
|
2,065 |
|
|
|
8,068 |
|
|
|
7,556 |
|
| |
Gain (loss) on sale of assets,
net |
|
|
- |
|
|
|
16 |
|
|
|
- |
|
|
|
(4,100 |
) |
| |
|
|
Total operating expenses |
|
|
5,866 |
|
|
|
7,018 |
|
|
|
27,431 |
|
|
|
23,955 |
|
| Operating loss |
|
|
(1,458 |
) |
|
|
(1,267 |
) |
|
|
(12,236 |
) |
|
|
(5,152 |
) |
| Other income (expense),
net |
|
|
(157 |
) |
|
|
183 |
|
|
|
88 |
|
|
|
446 |
|
| Loss before income taxes |
|
|
(1,615 |
) |
|
|
(1,084 |
) |
|
|
(12,148 |
) |
|
|
(4,706 |
) |
| Provision (benefit) for income
taxes |
|
|
(661 |
) |
|
|
8,379 |
|
|
|
(1,037 |
) |
|
|
8,031 |
|
| Loss from Continuing
Operations |
|
|
(954 |
) |
|
|
(9,463 |
) |
|
|
(11,111 |
) |
|
|
(12,737 |
) |
| Income (loss) from
Discontinued Operations, net of income taxes |
|
|
34,009 |
|
|
|
(3,395 |
) |
|
|
39,492 |
|
|
|
1,624 |
|
| Net income (loss) |
|
$ |
33,055 |
|
|
$ |
(12,858 |
) |
|
$ |
28,381 |
|
|
$ |
(11,113 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted earnings
(loss) per share: |
|
|
|
|
|
|
|
|
| |
Continuing operations |
|
$ |
(0.10 |
) |
|
$ |
(1.03 |
) |
|
$ |
(1.20 |
) |
|
$ |
(1.39 |
) |
| |
Discontinued operations |
|
|
3.65 |
|
|
|
(0.37 |
) |
|
|
4.27 |
|
|
|
0.18 |
|
| |
Net income (loss) |
|
$ |
3.55 |
|
|
$ |
(1.40 |
) |
|
$ |
3.07 |
|
|
$ |
(1.21 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
| Basic and diluted weighted
average shares outstanding |
|
|
9,313,977 |
|
|
|
9,174,852 |
|
|
|
9,252,275 |
|
|
|
9,154,437 |
|
| Cash dividends declared per
common share |
|
$ |
0.12 |
|
|
$ |
0.12 |
|
|
$ |
0.48 |
|
|
$ |
0.48 |
|
| Concurrent Computer Corporation |
| Condensed Consolidated Statements of Operations
(Unaudited) |
| (In Thousands Except Share and Per Share
Data) |
| |
|
|
|
|
|
|
|
| |
|
|
|
|
Three Months Ended |
| |
|
|
|
|
June
30, |
|
March
31, |
| |
|
|
|
|
2017 |
|
2017 |
| Revenues: |
|
|
|
|
| |
Product |
|
$ |
5,248 |
|
|
$ |
4,537 |
|
| |
Service |
|
|
2,598 |
|
|
|
2,908 |
|
| |
|
|
Total revenues |
|
|
7,846 |
|
|
|
7,445 |
|
| Cost of sales: |
|
|
|
|
| |
Product |
|
|
2,234 |
|
|
|
2,226 |
|
| |
Service |
|
|
1,204 |
|
|
|
1,152 |
|
| |
|
|
Total cost of sales |
|
|
3,438 |
|
|
|
3,378 |
|
| Gross margin |
|
|
4,408 |
|
|
|
4,067 |
|
| Operating expenses: |
|
|
|
|
| |
Sales and marketing |
|
|
2,766 |
|
|
|
2,588 |
|
| |
Research and development |
|
|
2,096 |
|
|
|
2,033 |
|
| |
General and
administrative |
|
|
1,004 |
|
|
|
2,792 |
|
| |
|
|
Total operating expenses |
|
|
5,866 |
|
|
|
7,413 |
|
| Operating loss |
|
|
(1,458 |
) |
|
|
(3,346 |
) |
| Other income (expense),
net |
|
|
(157 |
) |
|
|
21 |
|
| Loss before income taxes |
|
|
(1,615 |
) |
|
|
(3,325 |
) |
| Benefit for income taxes |
|
|
(661 |
) |
|
|
(143 |
) |
| Loss from Continuing
Operations |
|
|
(954 |
) |
|
|
(3,182 |
) |
| Income from Discontinued
Operations, net of income taxes |
|
|
34,009 |
|
|
|
1,524 |
|
| Net income (loss) |
|
$ |
33,055 |
|
|
$ |
(1,658 |
) |
| |
|
|
|
|
|
|
|
| Basic and diluted earnings
(loss) per share: |
|
|
|
|
| |
Continuing operations |
|
$ |
(0.10 |
) |
|
$ |
(0.34 |
) |
| |
Discontinued operations |
|
|
3.65 |
|
|
|
0.17 |
|
| |
Net income (loss) |
|
$ |
3.55 |
|
|
$ |
(0.18 |
) |
| |
|
|
|
|
|
|
|
| Basic and diluted weighted
average shares outstanding |
|
|
9,313,977 |
|
|
|
9,261,862 |
|
| Cash dividends declared per
common share |
|
$ |
0.12 |
|
|
$ |
0.12 |
|
| Concurrent Computer Corporation |
|
| Condensed Consolidated Statements of Comprehensive Income
(Loss) (Unaudited) |
|
| (In Thousands) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
Three Months Ended |
|
Year Ended |
|
| |
|
|
|
|
June
30, |
|
March
31, |
|
June
30, |
|
June 30, |
|
| |
|
|
|
|
2017 |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) |
|
$ |
33,055 |
|
|
$ |
(1,658 |
) |
|
$ |
(12,858 |
) |
|
$ |
28,381 |
|
|
$ |
(11,113 |
) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other comprehensive income
(loss): |
|
|
|
|
|
|
|
|
|
|
|
| |
|
Foreign currency translation
adjustment |
|
|
(225 |
) |
|
|
38 |
|
|
|
(29 |
) |
|
|
(478 |
) |
|
|
(231 |
) |
|
| |
|
Pension and post-retirement
benefits, net of tax |
|
|
204 |
|
|
|
(19 |
) |
|
|
(433 |
) |
|
|
292 |
|
|
|
(423 |
) |
|
| |
|
Other comprehensive income
(loss) |
|
|
(21 |
) |
|
|
19 |
|
|
|
(462 |
) |
|
|
(186 |
) |
|
|
(654 |
) |
|
| |
|
|
Comprehensive income
(loss) |
|
$ |
33,034 |
|
|
$ |
(1,639 |
) |
|
$ |
(13,320 |
) |
|
$ |
28,195 |
|
|
$ |
(11,767 |
) |
|
| Concurrent Computer Corporation |
| Condensed Consolidated
Balance Sheets (Unaudited) |
| (In Thousands) |
| |
|
|
|
|
|
| |
|
|
June 30, |
|
June 30, |
| |
|
|
2017 |
|
2016 |
| |
|
|
|
|
|
| |
|
|
|
|
|
| ASSETS |
|
|
|
|
| |
Cash and cash equivalents |
|
$ |
35,893 |
|
|
$ |
18,798 |
|
| |
Short-term investments |
|
|
6,870 |
|
|
|
- |
|
| |
Trade accounts receivable,
net |
|
|
6,930 |
|
|
|
8,862 |
|
| |
Inventories |
|
|
1,865 |
|
|
|
2,342 |
|
| |
Escrow receivable for sale of
Real-Time business |
|
|
2,000 |
|
|
|
- |
|
| |
Prepaid expenses and other
current assets |
|
|
1,366 |
|
|
|
711 |
|
| |
Current assets of discontinued
operations |
|
|
- |
|
|
|
9,215 |
|
| |
Total current assets |
|
|
54,924 |
|
|
|
39,928 |
|
| |
|
|
|
|
|
| |
Property, plant and equipment,
net |
|
|
1,726 |
|
|
|
2,578 |
|
| |
Deferred income taxes,
net |
|
|
15 |
|
|
|
146 |
|
| |
Other long-term assets,
net |
|
|
1,142 |
|
|
|
668 |
|
| |
Noncurrent assets of
discontinued operations |
|
|
- |
|
|
|
1,916 |
|
| |
Total assets |
|
$ |
57,807 |
|
|
$ |
45,236 |
|
| |
|
|
|
|
|
| LIABILITIES |
|
|
|
|
| |
Accounts payable and accrued
expenses |
|
$ |
8,164 |
|
|
$ |
6,315 |
|
| |
Deferred revenue |
|
|
1,454 |
|
|
|
4,017 |
|
| |
Current liabilities of
discontinued operations |
|
|
- |
|
|
|
6,985 |
|
| |
Total current liabilities |
|
|
9,618 |
|
|
|
17,317 |
|
| |
|
|
|
|
|
| |
Long-term deferred
revenue |
|
|
66 |
|
|
|
198 |
|
| |
Pension liability |
|
|
3,582 |
|
|
|
3,720 |
|
| |
Other long-term
liabilities |
|
|
1,072 |
|
|
|
1,056 |
|
| |
Noncurrent liabilities of
discontinued operations |
|
|
- |
|
|
|
1,947 |
|
| |
Total liabilities |
|
|
14,338 |
|
|
|
24,238 |
|
| |
|
|
|
|
|
| STOCKHOLDERS'
EQUITY |
|
|
|
|
| |
Common stock |
|
|
94 |
|
|
|
92 |
|
| |
Additional paid-in
capital |
|
|
212,018 |
|
|
|
210,971 |
|
| |
Accumulated deficit |
|
|
(165,498 |
) |
|
|
(189,265 |
) |
| |
Treasury stock, at cost |
|
|
(255 |
) |
|
|
(255 |
) |
| |
Accumulated other
comprehensive income (loss) |
|
|
(2,890 |
) |
|
|
(545 |
) |
| |
Total stockholders'
equity |
|
|
43,469 |
|
|
|
20,998 |
|
| Total liabilities and
stockholders' equity |
|
$ |
57,807 |
|
|
$ |
45,236 |
|
| Concurrent Computer Corporation |
| Reconciliation of GAAP to Non-GAAP
Financial Measures (Unaudited) |
| (In Thousands) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Three Months Ended |
|
Year Ended |
| |
|
June
30, |
|
March
31, |
|
June
30, |
|
June 30, |
| |
|
2017 |
|
2017 |
|
2016 |
|
2017 |
|
2016 |
| |
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
| GAAP Loss from Continuing
Operations |
|
$ |
(954 |
) |
|
$ |
(3,182 |
) |
|
$ |
(9,463 |
) |
|
$ |
(11,111 |
) |
|
$ |
(12,737 |
) |
| Addback (deduct): |
|
|
|
|
|
|
|
|
|
|
| Other (income) expense,
net |
|
|
157 |
|
|
|
(21 |
) |
|
|
(183 |
) |
|
|
(88 |
) |
|
|
(446 |
) |
| Provision (benefit) for income
taxes |
|
|
(661 |
) |
|
|
(143 |
) |
|
|
8,379 |
|
|
|
(1,037 |
) |
|
|
8,031 |
|
| Depreciation |
|
|
325 |
|
|
|
339 |
|
|
|
344 |
|
|
|
1,409 |
|
|
|
1,328 |
|
| Amortization |
|
|
3 |
|
|
|
3 |
|
|
|
3 |
|
|
|
12 |
|
|
|
45 |
|
| Share-based compensation |
|
|
233 |
|
|
|
122 |
|
|
|
205 |
|
|
|
857 |
|
|
|
708 |
|
| (Gain) loss on sale of assets,
net |
|
|
- |
|
|
|
- |
|
|
|
16 |
|
|
|
- |
|
|
|
(4,100 |
) |
| Non-GAAP Adjusted EBITDA from
Continuing Operations |
|
$ |
(897 |
) |
|
$ |
(2,882 |
) |
|
$ |
(699 |
) |
|
$ |
(9,958 |
) |
|
$ |
(7,171 |
) |