On November 5, 2015, Sajan announced its financial results for 3rd Quarter 2015 and the nine month period ending on September 30, 2015.
Revenues were $7,333,000 for the quarter ended September 30, 2015, compared to $7,340,000 for the quarter ended September 30, 2014. Sajan’s reported net loss was $127,000 for the quarter ended September 30, 2015, compared to net income of $101,000 for the quarter ended September 30, 2014. Adjusted EBITDA was $212,000 for the quarter ended September 30, 2015, compared to $449,000 for the quarter ended September 30, 2014.
Revenues for the nine months ended September 30, 2015, were $22,192,000 compared to $20,734,000 in the same period of 2014, an increase of 7 percent. Net loss for the first nine months of 2015 was $121,000 compared to a net loss of $115,000 in the same period of 2014. Adjusted EBITDA was $873,000 in the first nine months of 2015 compared to $919,000 in the same period of 2014.
“Our third quarter revenue reflects increases from three of our top four domestic clients, increases from our Global Life Sciences Services Practice, and revenue from new 2015 clients. These increases were offset by a decline in international revenue due to reduced spending at IBM, and lower revenue due to timing of anticipated translation projects from several of our larger domestic clients. Our results also reflect continued investments in our operational staff and processes as well as new sales and marketing initiatives we have undertaken. I believe these key actions will drive future revenue and earnings growth.”
“Although the delayed spending by some of our larger clients was disappointing, our relationships with these and all of our clients are strong. I am pleased with our overall progress and, specifically, our execution on the following key initiatives:
Management discussed its business operations, financial results and growth strategies on November 5th. Investors may listen to a replay until 11:59 p.m. CT on November 12, 2015, by dialing (888) 566-0647.
More details are included in the full article HERE.