Earnings out and they're not good... - Revenue from OpenJaw operations was $4.9 million compared to $5.3 million in Q2 2015 which reflects a slight quarter over quarter decline in this operation. The decline in revenue Q over Q was specifically attributed to seasonality of professional services and initial deployment revenues which have a historic softening in summer months.
- Revenue from the GuestLogix onboard operations was $6.1 million compared to $10.1 million in the previous quarter.
- Adjusted EBITDA(1) of $(3.5) million, compared to $0.8 million in Q3 F2014. The Adjusted EBITDA includes $2.1 million of one-time expenses described below.
- Net loss of $5.3 million, compared to a net loss of $0.3 million in Q3 F2014, materially driven by the cost of restructuring efforts and lower revenues.
"Closing out the third quarter, we were able to successfully reduce the Company's operating overhead through a major restructuring plan including both headcount and contractor reduction and several operational efficiency measures that will begin to drive the company towards positive operating results moving forward," said John Gillberry, Chief Executive Officer, GuestLogix Inc. "Revenue declined within the quarter, which was primarily a result of delay in device deployments and initial services. All client deployments in the pipeline remain scheduled, however several have been delayed as a result of software customization and / or configuration requests by clients."
Read more at https://www.stockhouse.com/news/press-releases/2015/11/12/guestlogix-announces-q3-fiscal-2015-results-initiation-of-strategic-review#pBzEGMFeK89w3y0X.99