Perion Reports Q3 2016 Results

TEL AVIV, Israel and NEW YORK, Nov. 08, 2016 (GLOBE NEWSWIRE) -- Perion Network Ltd. (NASDAQ:PERI), a global technology leader in high-quality advertising solutions for brands and publishers, announced today its financial results for the third quarter and nine months ended September 30, 2016.

Financial Highlights*(In thousands, except per share data)
  Three months ended
  September 30,
  2015   2016
Revenues $   52,637     $ 74,460
GAAP Net Income (loss) from continuing operation $   (69,034 )   $ 2,884
Non-GAAP Net Income $   8,310     $ 7,670
Adjusted EBITDA $   11,450     $ 12,362
GAAP Diluted Earnings (Loss) Per Share from continuing operation $   (0.97 )   $ 0.04
Non-GAAP Diluted Earnings Per Share $   0.12     $ 0.10

* Reconciliation of GAAP to Non-GAAP measures follows.

Josef Mandelbaum, Perion's CEO commented, "Perion delivered both sequential and year-over-year EBITDA growth for the first time in two years, reflecting the stability of our business and the continued reduction in expenses, which have enabled us to deliver consistent profitability. This translated into another excellent quarter of cash generation, whereby cash flow from continuing operations was $9.6 million, and for the first nine months of the year now stands at $21.7 million."

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