Please wait while we load the requested 10-Q report or click the link below:
For more information contact:
Market Street Partners
SIZMEK REPORTS SECOND QUARTER 2015 RESULTS
· Repositioned Sales Force Gaining Traction with Global Wins
· Enhanced Mobile Programmatic Solution to Drive 2H Revenues
Austin, TX. August 12, 2015 Sizmek Inc. (NASDAQ: SZMK), a global open ad management company that delivers multiscreen campaigns, today reported financial results for the second quarter ended June 30, 2015. Revenues for the three months ended June 30, 2015 were $40.2 million compared to the same period of 2014, a decrease of 9%. On a constant currency basis, revenues were $43.0 million compared to $44.0 million the prior year when adjusted for the effect of changes in foreign currency. Core products, consisting of all products except rich media, grew 8% for the three months when adjusted for the effect of the change in foreign currencies, comprising 81% of the business for the second quarter.
Adjusted EBITDA for the three months ended June 30, 2015 decreased 57% to $2.9 million compared to Adjusted EBITDA for the same period of 2014, or a 48% decrease over the prior year when adjusted for the effects of changes in foreign currency.
We anticipated that first half 2015 results would be challenged due largely to the repositioning of our global sales organization, exacerbated by foreign currency trends, which impacted revenues by $5.0 million or 6% of our growth for the six months, said Neil Nguyen, CEO of Sizmek. Looking toward to the balance of the year, we are gaining traction from the capital investments made in our technology platform, with a number of large global customer wins validating our value proposition. In addition the formal launch of our Data Hub and continued enhancements to our mobile programmatic platform will further distinguish Sizmek from the rest of the solutions in market. We believe pairing our leading global ad management platform with a robust mobile programmatic offering will drive growth in the second half of 2015 and beyond.
The Company is updating its full year guidance to reflect the projected impact of $9-10 million of negative foreign currency; revenues are now expected to be $180-184 million, representing 5 8% growth over full year 2014, or 10-13% growth after giving effect to the negative impact in foreign currency changes.
Second quarter highlights include:
· Completed acquisition of StrikeAd Mobile DSP and began the expansion of additional channels are on track for introduction in 2016.
· Core products, including mobile, video, and data driven products, saw high growth despite the significant impact from foreign currency:
The following information was filed by Sizmek Inc. (SZMK) on Wednesday, August 12, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
View differences made from one quarter to another to evaluate Sizmek Inc.'s financial trajectory
Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Sizmek Inc..