Sajan’s Financials for 2nd Quarter and First Half of 2016

Sajan, Inc., A McGowan Capital Group Portfolio Company Announces Financial Results

 

From Globe Newswire – August 4, 2016 — Sajan, Inc. (NASDAQ: SAJA), a leading provider of global language services and translation management system technology, today reported its financial results for the second quarter and six months ended June 30, 2016.

 

Sajan Revenues for the Second Quarter

 

Revenues were $7,264,000 for the quarter ended June 30, 2016, compared to revenues of $7,377,000 for the quarter ended June 30, 2015. The Company reported a new loss of ($296,000) for the quarter ended June 30, 2016 compared to net income of $3,000 for the quarter ended June 30, 2015. Adjusted EBITDA was ($85,000) for the quarter ended June 30, 2016, compared to $317,000 for the quarter ended June 30, 2015. See the section entitled “Non-GAAP Financial Measures” below for a reconciliation of Adjusted EBITDA to net income (loss).

 

Sajan Revenues for the First Half of 2016

 

Revenues for the six months ended June 30, 2016 were $14,040,000 compared to $14,858,000 in the same period of 2015. Net loss for the first six months of 2016 was ($496,000) compared to net income of $7,000 in the same period in 2015. Adjusted EBITDA was ($57,000) in the first six months of 2016 compared to $663,000 in the same period of 2015.

 

Sajan CEO, Shannon Zimmerman Comments

 

Shannon Zimmerman, CEO of Sajan, commented on the Company’s second quarter results:  “The translation business has always been project-oriented and subject to the timing and nature of the translation needs of our customers. During 2016, we have devoted substantial sales and marketing activities directed towards obtaining new customers and increased business from our current customers. These efforts have included adding a channel partner program, changing the focus of our VP of Life Sciences from operational towards winning new international Life Science customers, and the establishment of a Global Solutions Architect program (‘GSA’) within the company. The GSA is a dedicated team that will promote the customer experience and is designed to win more business. Although these initiatives resulted in higher costs during the second quarter of 2016 compared to 2015, we believe that along with continued technological improvements to Transplicity, our translation technology platform, the actions and investments will result in future revenue growth.”

 

Non-GAAP Financial Measures – Adjusted EBITDA

 

3 months ended  June 30 6 months ended  June 30
EBITDA 2016 2015 2016 2015
Net (loss) income $ (296) 3 $ (496) 7
Interest Expense 4 17 11 36
Income Taxes 4 10
Depreciation and Amortization 145 232 288 462
Stock-based Compensation 62 65 136 148
Adjusted EBITDA $ (85) 317 $ (57) 663

 

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