Electronic Cigarettes International Group Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
August 11, 2015 at 01:31 am IST
Share
Electronic Cigarettes International Group Ltd. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $12,013,000 against $11,288,000 a year ago. Loss from operations was $7,687,000 against $28,441,000 a year ago. Income before income tax expense was $42,979,000 against loss before income tax benefit of $24,904,000 a year ago. Net income was $42,784,000 or $0.24 per diluted share against net loss of $367,000 or $0.07 per diluted share a year ago. EBITDA was $59,373,000 against LBITDA of $16,042,000 a year ago. Adjusted LBITDA was $1,234,000 against $5,279,000 a year ago.
For the six months, the company reported net sales of $23,104,000 against $15,426,000 a year ago. Loss from operations was $24,564,000 against $84,635,000 a year ago. Loss before income tax expense was $24,275,000 against loss before income tax benefit of $109,028,000 a year ago. Net income was $24,719,000 or $0.61 per basic and diluted share against $84,491,000 or $18.47 per basic and diluted share a year ago. EBITDA was $33,567,000 against LBITDA of $93,795,000 a year ago. Adjusted LBITDA was $5,937,000 against $8,165,000 a year ago.
Electronic Cigarettes International Group Ltd is a United States-based company. The Company is an independent marketer and distributor of vaping products and e-cigarettes. The e-cigarettes are battery-powered products that simulate tobacco smoking through inhalation of nicotine vapor without the fire, flame, tobacco, tar, carbon monoxide, ash, stub, smell and other chemicals found in traditional combustible cigarettes. The Company accommodates the various product preferences of e-cigarette users by offering a set of products, including disposables, rechargeables, tanks, starter kits, e-liquids, open and closed-end vaping systems and accessories. Its products consist of components and nicotine liquids. Its global brand portfolio includes the FIN, VIP, VAPESTICK, E-CIG, PRO VAPOR and VICTORIA brands. The Company offers E-cigarette cartridges in a range of flavors.
Electronic Cigarettes International Group Ltd. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015