Wright Investors' Service Holdings, Inc. Reports Third Quarter 2016 Results

Wright Investors' Service Holdings, Inc. (OTC Markets:WISH) announced today $1,417,000 of revenue for the three month period ended September 30, 2016, compared to $1,536,000 of revenue reported for the three month period ended September 30, 2015. Net loss was $(398,000) for the three month period ended September 30, 2016, $(0.02) per basic and diluted share, compared to a net loss of $(766,000), $(0.04) per basic and diluted share, for the three month period ended September 30, 2015.

The Company reported revenue of $4,348,000 for the nine month period ended September 30, 2016, compared to $4,519,000 of revenue reported for the nine month period ended September 30, 2015. Net loss was $(1,747,000) for the nine month period ended September 30, 2016, $(0.09) per basic and diluted share, compared to a net loss of $(2,399,000), $(0.12) per basic and diluted share, for the nine month period ended September 30, 2015. Included in the net loss for the nine months ended September 30, 2016 is $294,000 for the Company's share of loss from an equity investment in an LLC.

For the three months ended September 30, 2016, Adjusted EBITDA of the operating segment (Earnings (loss) Before Interest, Taxes, Depreciation and Amortization), as stated before corporate expenses, equity compensation expense, change in liability for contingent consideration, amortization of stay and retention bonuses, and share of loss from equity investment in LLC, was $225,000 as compared to $187,000 for the same period last year.

For the nine month period ended September 30, 2016, Adjusted EBITDA of the operating segment, before corporate expenses, equity compensation expense, change in liability for contingent consideration, amortization of stay and retention bonuses, relocation and severance costs and share of loss from equity investment in LLC, was $550,000 as compared to $245,000 for the first nine months of 2015.

Mr. Harvey Eisen, Chairman and Chief Executive Officer stated that "Our operating results have continued to improve due to reduced operating costs. We are committed to our goal of increasing assets under management in all of our business channels as well as working to improve our operating results."