Ominto, Inc. Reports Fiscal Third Quarter 2016 Financial Results
Ominto, Inc. (OTC PK: OMNT), a global leader in online Cash Back shopping, today reported financial results for the fiscal
third quarter and nine months ended June 30, 2016.
For the quarter ended June 30, 2016, revenue was approximately $4.0 million, compared to $4.8 million for the
same quarter in the previous fiscal year. Loss from continuing operations for the fiscal quarter ended June 30, 2016 was
approximately $1.9 million compared to $1.3 million in the fiscal third quarter of 2015. Net loss for the fiscal third quarter
of 2016 was approximately $1.9 million resulting in loss per share of $0.16 compared to a net loss of $1.2
million, or a loss per share of $0.15 for the fiscal third quarter of 2015.
For the nine months ended June 30, 2016, revenue was approximately $13.4 million, compared to $13.3 million for
the same period of the previous fiscal year. Loss from continuing operations for the fiscal nine months ended June 30,
2016 was approximately $7.0 million compared to a loss of $4.7 million in the same period of 2015. The higher
loss resulted primarily from an increase in selling, general, and administrative cost compared to the prior year period. The
increase was primarily due to higher payroll and severance obligations related to the relocation of the company’s worldwide
headquarters from Seattle, WA to Boca Raton, FL. In addition, SG&A expenses were adversely impacted by foreign exchange
from the significant fluctuation of the Euro versus the US Dollar during 2016.
Net loss for the fiscal nine month period of 2016 was approximately $7.0 million resulting in loss per share
of $0.59 compared to a net loss of $4.3 million, or a loss per share of $0.54 during the same period of
2015.
Michael Hansen, Chief Executive Officer, stated, “With the launch of our new platform, we now have the ability to fully leverage
our relationships around the world through our Partner Programs and offer customers a unique Cash Back shopping experience. As
such, we expect to increase our global customer base significantly over the coming quarters. Furthermore, we continue to advance
the sophistication of our new platform in an effort to enhance the customer experience and increase customer engagement.”
For more information, please visit Ominto's corporate website http://inc.ominto.com.
About Ominto, Inc.
Ominto, Inc. is a global e-commerce leader and pioneer of online Cash Back shopping delivering value-based shopping and
travel deals through its primary shopping platform and affiliated Partner Program websites. At DubLi.com or at Partner sites powered by Ominto.com, consumers shop at their favorite stores, save
with the best coupons and deals, and earn Cash Back with each purchase. The Ominto.com platform features thousands of
brand name stores and industry-leading travel companies from around the world, providing Cash Back savings to consumers in more
than 120 countries. Ominto Enterprise Partner Programs offer a white label version of the Ominto.com shopping and travel
platform to businesses and non-profits, providing them with a professional, reliable web presence that builds brand loyalty with
their members, customers or constituents while earning commission for the organization and Cash Back for shoppers on each
transaction.
Forward-looking Statements
This document contains forward-looking statements that involve substantial risks and uncertainties. All statements, other than
statements of historical facts, included in this press release regarding Ominto's strategy, future operations, future
financial positions, prospects, plans and objectives of management are forward-looking statements. Without limiting the generality
of the foregoing, words such as "may," "will," "to," "plan," "expect," "believe," "anticipate," "intend," "could," "would,"
"estimate," "target" or "continue" and similar expressions (or the negative of these terms) are intended to identify
forward-looking statements. These forward statements include, among other things, statements about management's estimates regarding
future revenues and financial performance and other statements about management's beliefs, intentions or
goals. Ominto may not actually achieve the expectations disclosed in the forward-looking statements and you should not
place undue reliance on Ominto's forward-looking statements. These forward-looking statements involve risks and
uncertainties that could cause actual results or events to differ materially from the expectations disclosed in the forward-looking
statements, including, but not limited to: our ability to successfully obtain consumer and/or market acceptance of our membership
Cash Back program; the ability to attract customers who purchase through our website; our ability to obtain additional funding
and/or generate sufficient working capital to fund our operations; the ability to establish and/or maintain a large growing base of
productive business associates; the ability to develop and/or maintain our growing Partner programs; the ability to obtain and
maintain digital coupon content on our website; the risks related to Ominto's ability to manage its growth, including
accurately planning and forecasting its financial results; the competitive environment
for Ominto's business; Ominto's ability to protect consumer data and our intellectual property; the ability to
adapt to mobile and technological change; the need to manage regulatory, tax and litigations risk; Ominto's ability to
manage international business uncertainties; along with other risks and potential factors that could
affect Ominto's business and financial results identified in Ominto's filings with the Securities and
Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended September 30, 2015.
Ominto, Inc.
Michael Hansen, 561-362-2399
investors@ominto.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20160822005941/en/