Top Image Systems (TISA) Tops Q4 EPS by 8c
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Top Image Systems’ Q1 Revenues Grow 28% Sequentially to $8.5 Million, 60% of Revenue is Recurring
May 17, 2016 9:03 AM EDTTEL AVIV, Israel and PLANO, Texas, May 17, 2016 (GLOBE NEWSWIRE) -- Top Image Systems, Ltd. (NASDAQ: TISA), a global innovator of intelligent content processing solutions, today announced its financial results for the first quarter ended March 31, 2016.
First Quarter 2016 Highlights
Revenues increased 28% sequentially to $8.5 million compared to Q4 2015;Adjusted EBITDA* of $0 compared to $(2.5) million in the fourth quarter of 2015;Recurring revenues represented 60% of total revenue;Restructuring initiative incurred pre-tax employees severance costs of $1.2 million;Quarterly non-GAAP operational costs decreased by $680,000 compared to Q4... More