Company Increases Dividend by 20%
Annual Meeting to be Held on June 20, 2013
HAWTHORNE, N.Y., March 7, 2013 (GLOBE NEWSWIRE) -- SmartPros Ltd. (Nasdaq:SPRO), a leader in the field of accredited professional education and corporate training, today reported results for the fiscal year ended December 31, 2012.For the year ended December 31, 2012, compared to 2011:
- Net revenue of $15.89 million, compared to $16.99 million
- Operating loss of $1.18 million, compared to operating income of $198,000
- Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of $500,000, compared to $1.37 million
- Net loss of $1.90 million, or $0.40 per share, compared to a net income of $154,000, or $0.03 per share
|RECONCILIATION OF NET (LOSS) INCOME||DECEMBER 31,|
|TO ADJUSTED EBITDA||2012||2011|
|Net (loss) income||$ (1,895,465)||$ 154,127|
|Provision for income taxes||735,379||44,614|
|Depreciation and amortization||1,118,157||1,178,538|
|Interest and dividend income||(27,023)||(12,022)|
|Impairment of goodwill||568,000||--|
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