NTN Buzztime, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Provides Earnings Guidance for the Second Half of 2018
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.