Intersections Inc. Reports Third Quarter 2016 Results

Intersections Inc. (NASDAQ: INTX) today announced financial results for the quarter ended September 30, 2016.

Consolidated revenue for the quarter ended September 30, 2016 was $43.1 million, compared to $48.9 million for the quarter ended September 30, 2015. Loss before income taxes for the quarter ended September 30, 2016 was $(8.2) million, compared to $(6.7) million for the quarter ended September 30, 2015. Consolidated adjusted EBITDA (loss) before share related compensation and non-cash impairment charges for the quarter ended September 30, 2016 was $(2.8) million, compared to $(3.5) million for the quarter ended September 30, 2015. Diluted loss per share for the quarter ended September 30, 2016 was $(0.35), compared to $(0.22) for the quarter ended September 30, 2015. Consolidated revenue for the nine months ended September 30, 2016 was $133.5 million, compared to $156.4 million for the nine months ended September 30, 2015. Loss before income taxes for the nine months ended September 30, 2016 was $(17.8) million, compared to $(19.4) million for the nine months ended September 30, 2015. Consolidated adjusted EBITDA (loss) before share related compensation and non-cash impairment charges for the nine months ended September 30, 2016 was $(4.8) million, compared to $(2.6) million for the nine months ended September 30, 2015. Diluted loss per share for the nine months ended September 30, 2016 was $(0.76), compared to $(1.57) for the nine months ended September 30, 2015.

"The improvement in our third quarter consolidated adjusted EBITDA compared to the prior year was driven by our Core Business and is particularly encouraging as we prepared for the fourth quarter launch of our exciting new product, Privacy Now™ with Watson," said Michael Stanfield, Chairman and Chief Executive Officer. "Privacy Now™ with Watson demonstrates our commitment to driving growth through innovative, data-driven technologies. We are pleased with the advancement of our Voyce technology and product offerings while we evaluate the previously announced proposal to divest the Voyce business and consider other alternatives that we believe will enhance shareholder value."

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