ICTV Brands Inc. Reports Unaudited Consolidated Financial Results for the Fourth Quarter and Full Year Ended December 31, 2015
Revenues for the year ended December 31, 2015 were $24.1 million, compared to $32.3 million for the year ended December 31, 2014. The primary driver of the decline in sales was generated by the aforementioned decrease in media related expenditures and a decline in international third party distributor revenue. Net loss for the year ended December 31, 2015 was $1.4 million, compared to a net loss of $2.3 million in the year ended December 31, 2014. The resulting diluted LPS is $0.06, as compared to $0.10 in the year ended December 31, 2014. Adjusted LBITDA was $768,000 as compared to $1.0 million for year ended December 31, 2014. Operating loss was $1,388,228 against $2,297,893 for the same period of last year. Loss before provision for income tax was $1,387,521 against $2,304,996 for the same period of last year. Net cash used in operating activities was $1,514,821 against inflow of $161,169 for the same period of last year.