Innovaro, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Announces Impairment Charge for Second Quarter of 2012
August 14, 2012 at 04:15 pm EDT
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Innovaro, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported revenue of $1,883,610 compared to $4,667,562 a year ago. Loss from continuing operations before income taxes was $5,308,868 compared to $1,640,905 a year ago. Loss from continuing operations was $4,793,337 or $0.32 per basic and diluted share compared to $1,631,091 or $0.11 per basic and diluted share a year ago. Net loss attributable to company stockholders of $4,864,107 or $0.32 per basic and diluted share compared to $1,464,501 or $0.10 per basic and diluted share a year ago.
For six months, the company reported revenue of $2,705,447 compared to $7,838,298 a year ago. Loss from continuing operations before income taxes was $6,706,499 compared to $1,812,994 a year ago. Loss from continuing operations was $6,190,968 or $0.41 per basic and diluted share compared to $1,793,366 or $0.12 per basic and diluted share a year ago. Net loss attributable to company stockholders of $4,864,107 or $0.41 per basic and diluted share compared to $1,464,501 or $0.11 per basic and diluted share a year ago. Net cash used in operating activities of continuing operations of $73,864 compared to net cash flows from operating activities of continuing operations of $496,090 a year ago. Capital expenditure was $661 compared to $22,758 a year ago.
The company announced impairment loss of $4,756,898 for the second quarter ended June 30, 2012.
Innovaro, Inc. is a United States-based company, which was previously engaged in software services. The Company does not have any products or services. The Company has no operations nor generated any revenue.
Innovaro, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Announces Impairment Charge for Second Quarter of 2012