Intermolecular, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported total revenues of $9,675,000 compared with $9,945,000 for the same period a year ago. Loss from operations was $815,000 compared with $5,987,000 for the same period a year ago. Loss before provision for income taxes was $622,000 compared with $5,835,000 for the same period a year ago. Net loss was $623,000 or $0.01 per basic and diluted share compared with $5,836,000 or $0.12 per basic and diluted share for the same period a year ago. Non-GAAP operating loss was $545,000 compared with $5,331,000 for the same period a year ago. Non-GAAP net income was $353,000 or $0.01 per basic and diluted share compared with $5,180,000 or $0.12 per basic and diluted share for the same period a year ago. Net cash provided by operating activities was $1,690,000 compared to $553,000 for the same period a year ago. Purchase of property and equipment was $194,000 compared with $264,000 for the same period a year ago. Adjusted EBITDA was $965,000 compared with adjusted LBITDA of $1,909,000 for the same period a year ago. The company's improved financial performance is the result of the actions the company has taken over the past year to both increase customer engagements and reduce the company's cost structure.

The company provided earnings guidance for the second quarter ending June 30, 2018. Revenue is projected to be in the range of $9.8 million to $10.2 million; Net profit is projected to be between a loss of $0.3 million, or $0.01 per share, and a profit of $0.3 million, or $0.01 per share, based on approximately 49.6 million shares expected to be outstanding; Non-GAAP net income, excluding stock-based compensation expense, is projected to be between breakeven and $0.6 million, or between $0.00 to $0.01 per share based on 49.6 million shares expected to be outstanding; and Adjusted EBITDA is projected to be between $1.2 million and $1.7 million.