Allin Corp. Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2011
Allin Corp. reported consolidated earnings results for the first quarter ended March 31, 2011. The company recorded a net loss of $385,000 for the three-month period ended March 31, 2012, as compared to a net loss of $912,000 for the three-month period ended March 31, 2011. The $527,000 period-to-period improvement in profitability resulted from the increase in gross profit from operations of $346,000 and the decrease in selling, general and administrative expenses of $160,000. Capital expenditures during the quarter were $91,000. Capital expenditures included purchases of computer hardware and software to upgrade the company's technology infrastructure, and office furniture and equipment. Cash provided by operating activities was $738,000 against cash used for operating activities of $828,000 reported last year. Consolidated revenue was $3,062,000 against $1,976,000 reported last year.