Social Reality Posts $1.8 million in Net Income for Second Quarter of 2016

The Company reported net income of $1,873,201, or $0.06 per share, for the three months ended June 30, 2016, compared to a net income of $415,591, or $0.02 per share, for the corresponding period of 2015.   

For the quarter ended June 30, 2016, Adjusted EBITDA was nearly break-even at ($4,945) compared to $1,803,538 in the first quarter of 2015. The decrease in the Adjusted EBITDA loss was primarily due to lower margins on certain product offerings and an impairment charge related to the carrying value of the goodwill associated with Steel Media.  

Balance Sheet as of June 30, 2016

Cash and cash equivalents totaled $674,820 at June 30, 2016 Current assets and total assets were $9,355,607 and $26,558,976, respectively, and current liabilities and total liabilities were $12,185,194 and $19,851,946 respectively. At June 30,2016 the Company had stockholders' equity of $6,707,030.

Conference call information:

Date:  Monday, August 15, 2016
Time:  4:15 P.M. Eastern Time (ET)
Dial in Number for U.S. & Canadian Callers: (877) 407-8293
Dial in Number for International Callers (Outside of the U.S. & Canada): (201) 689-8349

Participating on the call will be Social Reality's Chief Executive Officer Christopher Miglino and Chief Financial Officer Rahul Thumati, who will be providing a financial and operational summary of the second quarter 2016. To join the live conference call, please dial into the above referenced telephone numbers five to ten minutes prior to the scheduled conference call time.

If you are unable to participate in the call at this time, a replay will be available for 14 days starting on August 15, 2016 at approximately 10:30 P.M. ET. To access the replay, please dial 877-660-6853 in the U.S. and 201-612-7415 for international callers. The conference ID# is 13637035.

About Social Reality

Social Reality, Inc. is an Internet advertising company that provides tools to automate the digital advertising market. The company has built technologies and leveraged partner technologies that service social media and the Real Time Bidding (RTB) markets. For more information, please visit www.socialreality.com.

Forward-Looking Statements

This press release may contain forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict, including, without limitation: our ability to grow our revenues and manage our gross margins; our history of losses; our limited operating history; the terms of our financing agreement with Victory Park Management, LLC as agent for the lenders; the impact of our debt obligations on our liquidity and financial conditions; the impact of the earn out payment to Mr. Steel; our possible need for additional financing; risks associated with loss of access to the Facebook platform; risks associated with loss of access to RTB inventory buyers; the continued appeal of digital advertising; our dependence on our publishers; risks related to possible future acquisitions; the limited market for our Class A common stock; and the impact of penny stock rules on the trading in our Class A common stock, among others, all as set forth in our Annual Report on Form 10-K for the year ended December 31, 2015 as filed with the Securities and Exchange Commission, and our other filings with the SEC. Except for our ongoing obligations to disclose material information under the Federal securities laws, Social Reality undertakes no obligation to release publicly any revisions to any forward-looking statements, to report events or to report the occurrence of unanticipated events.

[Financial Tables to Follow]

SOCIAL REALITY, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
		Three Months ended June 30,						Six Months ended June 30,
		2016			2015			2016			2015
Revenues		$	9,249,410		$	10,761,573		$	14,718,746		$	14,782,857
Cost of revenue			6,262,807			5,158,443			9,443,370			7,400,918
Gross profit			2,986,603			5,603,130			5,275,376			7,381,939
Operating expense:
General, selling and administrative expenses			3,425,591			4,252,752			7,230,691			7,162,752
Impairment of goodwill			670,000			-			670,000			-
Income (loss) from operations			(1,108,988)			1,350,378			(2,625,315)			219,187
Other income (expense):
Write off of contingent consideration			3,744,496			—			3,744,496			—
Interest income (expense)			(762,307)			(934,787)			(1,647,634)			(1,858,057)
			2,982,189			(934,787)			2,096,862			(1,858,057)
Income (loss) before provision for income taxes			1,873,201			415,591			(528,453)			(1,638,870)
Provision for income taxes			—			—			—			—
Net income (loss)		$	1,873,201		$	415,591		$	(528,453) Werbung Mehr Nachrichten zur Social Reality Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 11:15 - PR Newswire Karelian Diamond Resources Plc - Holding(s) in Company 11:07 - PR Newswire Global Opportunities Trust Plc - Portfolio Holdings as at 30 April 2024 02:00 - PR Newswire Rightmove Plc - Trading Statement Vor Neubewertung    Geheimtipp aus der 2. Reihe könnte Kursbooster für dein Depot sein weiterlesen» Anzeige wo-site-teaser-box-16905_site-teaser-box_2024-05-10_08%253A00%253A00_2024-05-11_09%253A00%253A59