Top Image Systems (TISA) Misses Q2 EPS by 3c, Slight Beat on Revenues

Top Image Systems (NASDAQ: TISA) reported Q2 EPS of ($0.06), $0.03 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $7.4 million versus the consensus estimate of $7.36 million.

Second Quarter Financial Results

• Quarterly revenues were $7.4 million, compared to $7.3 million in the first quarter of 2017 and $8.5 million in the same period in 2016;
• Quarterly recurring revenues were $4.8 million, representing 64% of total revenue, compared to $4.5 million, representing 61% of total revenues, in the first quarter of 2017 and $4.9 million, representing 57% of total revenues, in the same quarter of 2016;
• Gross profit for the second quarter of 2017 was $3.2 million, the same as the first quarter of 2017 and $4.3 million in the same period in 2016;
• Gross margin for the second quarter of 2017 was 43%, compared to 44% in the first quarter of 2017 and 50% million in the same period in 2016;
• Second quarter operating net loss was ($1.3) million, compared to ($1.7) million in the first quarter of 2017 and ($.1) million in the same period in 2016;
• Second quarter 2017 GAAP loss per share was ($0.10), consistent with the first quarter of 2017;
• For the six months ended June 30, 2017, GAAP loss per share was ($.20) compared to ($.13) in the same period last year;
• Second quarter 2017 Non-GAAP* loss per share was ($0.06), compared to ($0.07) in the first quarter of 2017;
• For the six months ended June 30, 2017, Non-GAAP loss per share was ($.13), compared to 0 in the same period last year;
• Adjusted EBITDA was a loss of ($ 0.5) million, compared to a loss of ($0.9) million in the first quarter of 2017.

For earnings history and earnings-related data on Top Image Systems (TISA) click here.

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