Marathon Patent Group (NASDAQ: MARA) reported Q3 EPS of $1.20, $1.38 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $13.5 million versus the consensus estimate of $3.5 million.

Commenting on the Company's third quarter financial results, Doug Croxall, Founder & Chief Executive Officer of Marathon, stated, "Marathon saw significant growth in the third quarter. Revenues of $13.5 million were up 255% on a sequential basis and were more than 18 times higher year-over-year. This increase in our top-line can be attributed to strong execution of our patent licensing campaigns and the expansion of our patent portfolio, which we continue to diversify across a wide range of industries, technology areas and stages of maturity."

Mr. Croxall continued, "In addition to our strong top-line growth, Marathon achieved GAAP profitability for the first time in the Company's history. GAAP net income for the quarter totaled $3.5 million, equating to $0.61 per basic share and $0.44 per diluted share. These results are indicative of our ability to execute our business plan, and we continue to strive to drive profitable growth and create value for our shareholders."

"Looking forward, we believe that we will continue to make strides in the fourth quarter. At the end of October, a court in Germany ruled in favor of Marathon's German subsidiary, MedTech Development Deutschland GmbH, by finding that Stryker GmbH & Co. infringes the asserted patents. As a result of this ruling, we expect to pursue an injunction within the borders of Germany," Mr. Croxall concluded.

For earnings history and earnings-related data on Marathon Patent Group (MARA) click here.