Cision Ltd. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company's revenue was $177,236,000 against $159,729,000 a year ago. Operating income was $14,231,000 against $13,894,000 a year ago. Loss before income taxes was $2,978,000 against $60,062,000 a year ago. Net loss was $6,048,000 against $46,409,000 a year ago. Basic and diluted net loss per share was $0.05 against $0.38 a year ago. EBITDA was $50.1 million against $51.0 million a year ago. Adjusted EBITDA was $62.7 million against $57.0 million a year ago. Adjusted income before income taxes was $36.0 million against $27.0 million a year ago. Adjusted net income was $26.6 million against $18.1 million a year ago. Adjusted net income per diluted share was $0.20 against $0.15 a year ago. Net cash provided by operating activities was $26.2 million against $20.2 million a year ago. Adjusted net cash provided by operating activities $39.0 million against $25.5 million a year ago. Revenue, excluding the impact from purchase accounting, increased 10.7% to $177.5 million.

For the nine months, the company's revenue was $544,004,000 against $462,678,000 a year ago. Operating income was $48,722,000 against $31,072,000 a year ago. Loss before income taxes was $2,908,000 against $116,488,000 a year ago. Net loss was $12,924,000 against $88,550,000 a year ago. Basic and diluted net loss per share was $0.10 against $1.47 a year ago. Net cash provided by operating activities was $89,789,000 against $38,342,000 a year ago. Purchases of property and equipment were $10,325,000 against $7,746,000 a year ago. Software development costs were $12,026,000 against $11,365,000 a year ago. EBITDA was $159.6 million against $135.1 million a year ago. Adjusted EBITDA was $187.1 million against $164.4 million a year ago. Adjusted income before income taxes was $106.9 million against $53.2 million a year ago. Adjusted net income was $79.1 million against $35.6 million a year ago. Adjusted net income per diluted share was $0.62 against $0.37 a year ago. Adjusted net cash provided by operating activities $122.4 million against $63.9 million a year ago.

The company revised earnings guidance for the full year ending December 31, 2018. The company expects revenue in the range of $724 million - $728 million, compared with previous guidance range of $722 million - $730 million. Revenue, excluding the impact from purchase accounting expected revenue in the range of $725 million - $729 million, compared with previous guidance range of $724 million - $732 million. Net loss expected revenue in the range of $12.0 million - $8.0 million, compared with previous guidance range of net loss of $6 million – net income of $6 million. Adjusted EBITDA expected revenue in the range of $250 million - $253 million, compared with previous guidance range of $249 million - $253 million. Adjusted net income expected revenue in the range of $106 million - $109 million, compared with previous guidance range of $106 million - $109 million. Adjusted net income per diluted share expected revenue in the range of $0.83 - $0.85, compared with previous guidance range of $0.83 - $0.85. The company expects depreciation expense in the range of $30 million - $32 million. Amortization expense expected in the range of $104 million - $106 million, compared with previous guidance range of $105 million - $107 million. Amortization expense included in cost of revenue expected in the range of $23 million - $24 million. Interest expense expected in the range of $77 million - $79 million, compared with previous guidance range of $78 million - $80 million. Cash interest expense expected in the range of $64 million - $66 million. Capital expenditures, inclusive of capitalized software development expected revenue in the range of $33 million - $35 million, compared with previous guidance range of $34 million - $36 million.

The change in exchange rate assumption for the British Pound, the Euro and the Canadian Dollar reduced revenue outlook for the fourth quarter of 2018 by approximately $1.0 million, reduced Adjusted EBITDA outlook for the fourth quarter of 2018 by approximately $0.4 million, and reduced Adjusted net income per diluted share outlook for the fourth quarter of 2018 by $0.01.