Noble Iron Inc. announced its interim unaudited consolidated financial results for the three- and six-month periods ended June 30, 2015, highlighting a 28-percent increase in total revenues, year over year.
“During the second quarter of 2015, we began realizing the results of the reorganization plan we initiated in 2014,” stated Nabil Kassam, Noble Iron’s Founder, Chairman and CEO. “We rebuilt our management and operating team; consolidated our four Southern California operations into a single hub in Los Angeles; and made significant investments in technology development. Our Southern California operations achieved record revenues in April and June, and our consolidated revenues, earnings, and Adjusted EBITDA have improved each quarter over the last three quarters. We believe our positive trajectory will be further catalyzed by other initiatives at our equipment operations and our release of new software products later this year.”
Second Quarter Highlights
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Total revenues of $6.6 million, an increase of $1.4 million or 28% compared to the second quarter of 2014
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Construction and Industrial Equipment Rental and Distribution segment revenue of $5.3 million, an increase of $1.2 million or 29% compared to the second quarter of 2014
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Software segment revenue of $1.3 million, an increase of $0.2 million or 23% compared to the second quarter of 2014
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Net loss for the second quarter of $2.4 million, an increase of $0.6 million or 36% compared to the second quarter of 2014
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Adjusted EBITDA of $0.2 million versus break even compared to the second quarter of 2014
For more about Noble Iron's second quarter results...
