Ascendant Solutions, Inc. Reports Second Quarter 2012 Earnings, Earnings Per Share And EBITDA

Ascendant Solutions, Inc. (“Ascendant” or the “Company”) today announced its results for the second quarter of fiscal 2012. The Company reported consolidated net loss of $347,000 for the fiscal quarter ended June 30, 2012, compared to net loss of $340,000 in 2011, resulting in net loss per share (“EPS”) of $0.01 compared to net loss per share of $0.01. Consolidated net loss for the six months ended June 30, 2012 was $547,000, compared to net loss of $1,178,000 for the six months ended 2011, resulting in net loss per share of $0.02 compared to net loss per share of $0.05. Average common shares outstanding for 2012 and 2011 were 24,447,931.

For the fiscal quarter ended June 30, 2012, the Company reported Consolidated Earnings (Loss) before Interest, Taxes, Depreciation and Amortization (“EBITDA”) of ($185,000) compared to Consolidated EBITDA of ($228,000) in 2011. EBITDA for the six months ended June 30, 2012, was ($230,000) compared to ($937,000) for the same period of 2011.

EBITDA is calculated as net income (loss) before deducting interest, taxes, depreciation and amortization. Although EBITDA is not a measure of actual cash flow because it does not consider changes in assets and liabilities that may impact cash balances, the Company’s management reviews these non-GAAP financial measures internally to evaluate the Company’s performance and manage the operations. Additionally, the Company believes it is a useful metric to evaluate operating performance and has therefore included such measures in the reporting of operating results.

Select Balance Sheet Items and Book Value per Share
(000's omitted, except per share amounts, unaudited)
		June 30,				December 31,
		2012				2011
Total Current Assets		$	3,380			$	3,937
Property and Equipment, net			1,181				1,355
Equity Method Investments			9,448				9,426
Deferred Tax Asset			6,000				6,000
Total Assets		$	20,009			$	20,718
Total Current Liabilities		$	2,370			$	2,832
Notes Payable, Long-Term			3,136				2,836
Total Liabilities			5,506				5,668
Stockholders' Equity			14,503				15,050
Total Liabilities and Equity		$	20,009			$	20,718
Common Shares Outstanding			24,447,931				24,447,931
Book Value per Share		$	0.59			$	0.62

About Ascendant Solutions, Inc.

Ascendant Solutions, Inc. (Pink Sheets: ASDS) is a value oriented, investment firm focused on making equity investments in underperforming or distressed U.S. lower middle-market businesses. Ascendant is primarily interested in investing or acquiring manufacturing, distribution, service, healthcare, finance and retail industries with $20 to $150 million in annual revenues that require access to capital or capital restructuring, and strategic support to improve operational performance. Ascendant currently has approximately $44 million in net operating loss carryforwards which can be used to shelter future income, thus enhancing free cash flow or debt service capabilities. Ascendant specializes in solving complex transactions where creative and quick solutions can add value to an enterprise.

1 2 Next › Last »