TORONTO, ONTARIO--(Marketwired - July 24, 2013) - ENGINEERING.com Incorporated (TSX VENTURE:EGN), a digital media company that informs, inspires and engages engineers, today announced its unaudited financial results for the second quarter ended June 30, 2013.

Revenue was $459,552 for the three months ended June 30, 2013 and $874,229 for the year-to-date, compared to revenue of $471,625 for the second quarter and $1,053,590 for the first half of 2012. The first half of 2012 included non-recurring software orders as disclosed at the time.

Operating loss (EBITDA) measured as earnings before interest, taxes, amortization and stock-based compensation, was ($4,704) for the second quarter of 2013 and ($25,984) for the year-to-date, compared with an operating loss of ($13,118) for the three month period ended June 30, 2012 and ($10,754) for the first half of 2012.

The operating expenses in the latest quarter were $302,747 compared to $293,246 in the second quarter a year earlier and $585,644 for year-to-date, compared to $594,170 for the first half of 2012. 

The net loss for the three months ended June 30, 2013, totaled ($8,521) and $0.00 per Common Share and ($20,946) and $0.00 per Common Share for the June 30, 2013 year-to-date. These results are compared to a net loss of ($20,946) and $0.00 per Common Share for the second quarter of 2012 and ($26,994) and $0.00 per Common Share for the first half of 2012.

"During the second quarter, ENGINEERING.com added depth and breadth to our editorial coverage, ramping up the volume of content with multiple engaging stories every weekday," said John Hayes, President of ENGINEERING.com. "This in turn led to more unique visitors, more registered members, and higher advertising revenue than in prior quarters."

As at June 30, 2013, the Company had a cash balance of $260,054 compared to a cash balance of $231,196 as at December 31, 2012. 

About ENGINEERING.com Incorporated

ENGINEERING.com Incorporated (TSX VENTURE:EGN) inspires, informs and entertains a worldwide audience of engineers through the www.ENGINEERING.com web site, mobile and social media channels. ENGINEERING.com offers marketing services to manufacturers, technology inventors and engineering academia. The ENGINEERING.com Incorporated head office is located in Mississauga, Ontario, Canada and can be reached toll-free at 1-877-997-9917, by facsimile at 905-273-6691 or through the Internet at www.ENGINEERING.com.

EBITDA

EBITDA is defined by the Company as operating income before interest expense, income taxes, amortization, stock-based compensation, asset dispositions and provision for discontinued operations. The Company has included information concerning EBITDA because it believes that EBITDA is used by certain investors as one measure of the Company's financial performance. EBITDA is not a measure of financial performance under International Financial Reporting Standards and is not necessarily comparable to similarly titled measures used by other companies. EBITDA should not be construed as an alternative to operating income or to cash flows from operating activities as a measure of liquidity.

Forward Looking Statements

This press release may contain forward-looking statements based on management's current projections, beliefs and opinions at the date of this press release. Actual results could differ materially from those anticipated in these statements. ENGINEERING.com Incorporated undertakes no responsibility to update forward-looking statements if circumstances or management's projections, beliefs or opinions change.

The contents of this News Release have been reviewed and approved by the Audit Committee and the Board of Directors.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.