B. Riley Financial (RILY) Offers Prelim. Q4 Results

B. Riley Financial, Inc. (NASDAQ: RILY), a diversified provider of financial and business advisory services, has reported certain preliminary results for its fourth quarter and full year ended December 31, 2016.

Based on preliminary unaudited information, B. Riley Financial expects to report adjusted EBITDA for the fourth quarter of 2016 in the range of $21.5 million to $23.0 million and net income for the fourth quarter of 2016 in the range of $10.2 million to $11.0 million. B. Riley Financial also expects to report adjusted EBITDA for the full year 2016 in the range of $45.3 million to $46.8 million and net income for the full year in the range of $19.3 million to $20.1 million. These preliminary full year results include the operations of United Online, Inc. from July 1, 2016 through December 31, 2016. Actual results for the fourth quarter and full year of 2016 may differ from these preliminary estimates as a result of the completion of the company's customary year-end closing and review procedures, the completion of the annual audit, and the filing of the company's Form 10-K.

"Our preliminary fourth quarter and full year 2016 financial results reflect continued strong performance in our auction and liquidation segment, driven primarily by a robust quarter in our retail liquidation business," said company chairman and CEO, Bryant Riley. "Our fourth quarter results were also augmented by a significant improvement in our capital markets segment when compared to the third quarter of 2016. Additionally, we had another good quarter in both our appraisal and valuation segment and our communications segment which continue to generate steady and predictable cash flow. While it is not our policy to report preliminary results or provide regular financial guidance, we believe it's important to communicate the overall strength and opportunities in our auction and liquidation segment to the extent that we have adequate visibility."

B. Riley Financial plans to report complete fourth quarter and full year 2016 financial results in March.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Zeo Energy Corp (ZEO) Misses Q2 EPS by 7c
• StablecoinX reports Q2 2026 results with $34.2M net loss