SmartPros Reports Second Quarter 2010 Financial Results
HAWTHORNE, N.Y., Aug. 10, 2010 (GLOBE NEWSWIRE) -- SmartPros Ltd. (Nasdaq:SPRO), a leader in the field of accredited professional education and corporate training, today announced its financial results for the three and six months ended June 30, 2010.
Financial results for the three months ended June 30, 2010, compared to 2009
- Net revenues of $5 million, compared to $4.7 million
- Operating income of $159,000, compared to $245,000
- EBITDA (earnings before interest, taxes, depreciation and amortization) of $414,000, compared to $494,000
- Net income was $86,000, or $.02 per diluted share, compared to $217,000, or $.04 per diluted share
Financial results for the six months ended June 30, 2010, compared to 2009
- Net revenues of $8.7 million, compared to $9.1 million
- Operating loss of $648,000, compared to an operating income of $272,000
- Loss before taxes, depreciation and amortization and other income (EBITDA) of $139,000, as compared to a gain of $768,000
- Net loss of $417,000, or $.08 per diluted share, compared to net earnings of $247,000, or $.05 per diluted share
|SIX MONTHS ENDED||THREE MONTHS ENDED|
|RECONCILIATION OF||June 30||June 30|
|NET INCOME TO EBITDA||2010||2009||2010||2009|
|Net (loss) income||$ (416,901)||$ 246,856||$ 86,149||$ 217,341|
|Income tax (benefit) provision||(223,500)||50,486||76,500||36,486|
|Depreciation and amortization||510,564||497,551||256,327||250,608|
|Interest and dividend income, (net)||(9,478)||(27,227)||(5,144)||(10,559)|
|EBITDA||$ (139,315)||$ 767,666||$ 413,832||$ 493,876|
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