InnerWorkings Inc. Announces Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Reaffirms Earnings Guidance for the Full Year 2015
Aug 6 15
InnerWorkings Inc. announced consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenue of $252,227,148 against $260,349,591 a year ago. Income from operations was $3,600,541 against $3,396,893 a year ago. Income before income taxes was $2,535,211 against $2,338,726 a year ago. Net income was $1,431,161 against $1,605,372 a year ago. Basic and diluted earnings per share were $0.03 against $0.03 a year ago. Net cash provided by operating activities was $7,262,599 against $4,220,257 a year ago. Non-GAAP adjusted EBITDA was $10,110,121 against $9,544,817 a year ago. Non-GAAP adjusted operating cash inflow was $7,842,744 against $6,416,166 a year ago. Adjusted net income was $2,099,687 or $0.04 per diluted share against $2,198,588 or $0.04 per diluted share a year ago. Excluding a foreign currency impact of $16.4 million, the company’s revenue grew 3.2% to $268.6 million.
For the six months, the company reported revenue of $494,322,645 against $501,839,255 a year ago. Income from operations was $6,613,744 against $4,934,267 a year ago. Income from operations was $4,508,625 against $2,760,427 a year ago. Net income was $2,569,881 against $1,894,779 a year ago. Basic and diluted earnings per share were $0.05 against $0.04 a year ago. Net cash provided by operating activities was $987,003 against net cash used in operating activities of $4,188,086 a year ago. Non-GAAP adjusted EBITDA was $19,588,333 against $18,047,108 a year ago. Non-GAAP adjusted operating cash inflow was $1,655,985 against adjusted operating cash outflow of $1,992,177 a year ago. Adjusted net income was $3,549,258 or $0.07 per diluted share against $3,217,588 or $0.04 per diluted share a year ago. Excluding currency impacts of $31 million, the company’s revenue grew by 5% to $525.3 million. This growth was driven mostly by revenue from new clients like Staples, Energizer, FedEx and Mondelez. New organic enterprise growth accounted for $19 million or 7% growth in the quarter and $40.7 million, an 8% growth year-to-date.
The company reaffirmed its 2015 revenue guidance of 8% to 11% growth over 2014 in constant currency, which equated to a 4% to 6% growth rate based on the currency rates at that time of the company’s guidance on February 12. Based on the most recent exchange rates, the company’s full year reported revenue is currently expected to be impacted by an additional 2%. The company reaffirmed its 2015 Non-GAAP adjusted EBITDA guidance of $49 million to $51 million and Non-GAAP diluted earnings per share guidance of $0.25 to $0.27 in reported terms. The company continues to improve its operating margins. And its full year 2015 adjusted EBITDA margin are projected to grow by 50 basis points to 70 basis points through 2014, keeping the company on track to reach its long-term margin objectives.
Things Remembered Selects InnerWorkings Inc. for In-Store and At-Home Marketing Expertise
Aug 5 15
InnerWorkings Inc. has partnered with Things Remembered, to produce and manage both in-store and at-home marketing efforts. Under the multi-year, multi-million dollar agreement, InnerWorkings will oversee the development and production of Things Remembered’s in-store signage, point-of-sale, and catalogs across the U.S. In addition, by leveraging its VALO® technology platform, InnerWorkings will heighten delivery efficiencies of in-store marketing materials for Things Remembered’s 600+ Things Remembered also will benefit from greater brand consistency, strategic sourcing, transparency, and better project management through the InnerWorkings partnership. InnerWorkings is uniquely positioned to help leading retailers such as Things Remembered overcome brand challenges across the marketing execution spectrum – from ideation to production.
InnerWorkings, Inc. Expands Marketing Execution Partnership with Gannett Co., Inc
Aug 3 15
InnerWorkings, Inc. has expanded its marketing execution partnership with Gannett Co., Inc. Under the new multi-year agreement, InnerWorkings will exclusively manage Gannett's direct response team and will provide a comprehensive solution for marketing execution from creative ideation and design through production. Gannett expanded its relationship based on InnerWorkings longstanding track record of improving direct response capabilities while managing Gannett's U.S. consumer marketing print operations. InnerWorkings creative services team of 30 design professionals will sit onsite at Gannett and collaborate with InnerWorkings current print management team to enhance accountability, shorten turnaround times, and optimize marketing efforts. InnerWorkings creative services team will offer end-to-end creative execution, including graphic design, creative ideation, versioning, copywriting, and pre-press support. Gannett will benefit from efficiencies in its marketing operations and InnerWorkings proven expertise as a direct marketer.
InnerWorkings Inc. Presents at CL King’s 13th Annual Best Ideas Conference 2015, Sep-10-2015 09:30 AM
Jul 29 15
InnerWorkings Inc. Presents at CL King’s 13th Annual Best Ideas Conference 2015, Sep-10-2015 09:30 AM. Venue: Omni Berkshire Place Hotel, New York, New York, United States. Speakers: Eric D. Belcher, Chief Executive Officer, President, Director and Chairman of Executive Committee, Jeffrey P. Pritchett, Chief Financial Officer and Executive Vice President.
InnerWorkings, Inc. to Provide AstraZeneca Exclusive Marketing Execution
Jul 15 15
InnerWorkings Inc. has become the exclusive North American marketing execution partner of AstraZeneca. Under the seven-year agreement, InnerWorkings will manage AstraZeneca’s marketing print operations across North America, which will improve AstraZeneca’s transparency and reporting as well as strengthen its brand impact. Strategically placed across the U.S., InnerWorking's three onsite teams based in Delaware, Maryland, and Pennsylvania will help AstraZeneca sharpen its financial visibility, unify its brands, and enhance its marketing effectiveness. In addition to AstraZeneca, InnerWorking's also serves top-tier global pharmaceutical clients such as Pfizer, Sanofi, and Novartis, all of whom benefit from InnerWorking's leverage, global reach, and ability to navigate the most sophisticated marketing supply chains across the globe.