PRGX Global, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Provides Earnings Guidance for the Year 2017
For the nine months, the company's revenue was USD 114,546,000 against USD 101,661,000 a year ago. Operating loss was USD 537,000 compared to profit of USD 860,000 a year ago. Income from continuing operations before income taxes was USD 1,340,000 compared to USD 2,031,000 a year ago. Net loss from continuing operations was USD 1,096,000 or USD 0.05 per basic and diluted share compared to net income from continuing operations of USD 2,052,000 or USD 0.09 per basic and diluted share a year ago. Net loss was USD 2,125,000 or USD 0.10 per basic and diluted share compared to income of USD 1,138,000 or USD 0.05 per basic and diluted share a year ago. EBIT was USD 538,000 compared USD 1,062,000 a year ago. EBITDA was USD 6,172,000 compared to USD 6,079,000 a year ago. Purchases of property and equipment, net of disposals was USD 6,433,000 compared to USD 4,648,000 a year ago. Adjusted EBITDA from continuing operations was USD 12,045,000 compared to USD 10,269,000 a year ago. Adjusted EBITDA was USD 11,022,000 compared to USD 9,420,000 a year ago. Net cash provided by operating activities was USD 3,557,000 compared to USD 6,174,000 a year ago.
Based on three solid quarters of performance and its outlook for the fourth quarter, the company remains confident that it will meet 2017 guidance of year-over-year double-digit revenue and Adjusted EBITDA growth on a constant dollar basis.