InnerWorkings Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015
Feb 12 15
InnerWorkings Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, revenue was $242,877,133 compared to $246,641,995 a year ago. Income from operations was $52,437 compared to $38,864,758 a year ago. Loss before income taxes was $1,042,569 compared to income before income taxes of $37,101,553 a year ago. Net loss was $468,526 compared to net income of $37,453,475 a year ago. Diluted loss per share was $0.01 compared to diluted earnings per share of $0.69 a year ago. Non-GAAP Adjusted EBITDA was $5,503,484 compared to $12,505,495 a year ago. Non-GAAP Adjusted operating cash outflow was $27,056,583 compared to $3,608,898 a year ago. Adjusted net loss was $1,254,065 or $0.02 per diluted share compared to adjusted net income of $3,555,920 or $0.07 per diluted share a year ago.
For the full year, revenue was $890,959,963 compared to $1,000,132,771 a year ago. Loss from operations was $5,980,528 compared to income from operations of $51,892,928 a year ago. Loss before income taxes was $9,216,277 compared to income before income taxes of $46,775,070 a year ago. Net loss was $8,660,349 compared to net income of $44,461,925 a year ago. Diluted loss per share was $0.17 compared to diluted earnings per share of $0.84 a year ago. Net cash provided by operating activities was $37,370,935 compared to net cash used in operating activities of $12,048,138 a year ago. Non-GAAP Adjusted EBITDA was $26,901,011 compared to $42,838,311 a year ago. Non-GAAP Adjusted operating cash outflow was $33,485,492 compared to non-GAAP adjusted negative operating cash flow of $9,711,616 a year ago. Adjusted net income was $4,446,718 or $0.09 per diluted share compared to $10,382,131 or $0.20 per diluted share a year ago.
The company provided earnings guidance for the year 2015. The company expects annual revenue to range between $1.04 billion and $1.06 million, representing growth of 4% to 6% over 2014 (8% to 11% over 2014 on a constant currency basis). 2015 Non-GAAP Adjusted EBITDA is forecasted to be between $49 million and $51 million, representing growth of 14% to 19% over 2014. Non-GAAP diluted earnings per share, which exclude contingent liability impacts, are expected to be $0.25 to $0.27, representing growth of 25% to 35% over 2014.
Edrington Group Selects InnerWorkings,Inc. as its Marketing Partner in the US
Jan 28 15
Edrington Group has selected InnerWorkings Inc., as its marketing partner in the US. Under the long-term multi-year agreement, InnerWorkings will produce Edrington's print, point-of-sale, and other branded materials throughout the US.
Edrington Names InnerWorkings, Inc. as U.S. Marketing Partner
Jan 22 15
InnerWorkings Inc. was named U.S. marketing partner of Edrington. Under the long-term multi-year agreement, InnerWorkings will produce Edringtons print, point-of-sale, and other branded materials throughout the U.S. This agreement expands InnerWorkings relationship with Edrington into the U.S.