NTN Buzztime, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported total revenues of $5,651,000 against $5,549,000 a year ago, as hardware revenue increases offset lower subscription revenue. Operating loss was $27,000 against $26,000 a year ago. Loss before income taxes was $100,000 against $158,000 a year ago. Net loss was $124,000 against $164,000 a year ago. Net loss per basic and diluted share was $0.05 against $0.07 a year ago. Total EBITDA was $691,000 against $516,000 a year ago. Revenue was increased compared to the second quarter of 2017. Decreases in subscription revenue due to lower site count as well as lower average revenue per site in another Revenues were offset by an increase in hardware revenue, which includes they former sales type lease revenue and their new equipment revenue stream.

For the six months, the company reported total revenues of $11,412,000 against $10,780,000 a year ago. Operating loss was $340,000 against $860,000 a year ago. Loss before income taxes was $507,000 against $242,000 a year ago. Net loss was $533,000 against $254,000 a year ago. Net loss per basic and diluted share was $0.21 against $0.11 a year ago. Net cash provided by operating activities was $239,000 against $2,806,000 a year ago. Capital expenditures were $280,000 against $339,000 a year ago. Total EBITDA was $1,016,000 against $1,170,000 a year ago.

The company provided earnings guidance for the second half of 2018. The company anticipates EBITDA to remain positive for the second half of 2018, and they have a $1.5 million trailing 6-month adjusted EBITDA covenant under their credit facility with their primary lender and also anticipate the second half of 2018 will drive performance for shareholder value by launching new products and increasing top line revenue.