True Link Motion Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Reports Impairment Charges for the Fourth Quarter Ended December 31, 2017
For the year, the company reported total net revenues of $57,611,000 compared to $60,644,000 a year ago. Loss from operations was $181,748,000 compared to $172,200,000 a year ago. Loss before income taxes was $203,849,000 compared to $197,151,000 a year ago. Net loss from continuing operation was $203,138,000 compared to $192,316,000 a year ago. Net loss attributable to the company was $5,274,000 compared to $127,593,000 a year ago. Net loss per Class A and Class B common share, basic & diluted was $0.0104 compared to $0.2588 a year ago. Net loss per Class A and Class B common share from continuing operations, basic & diluted was $0.3487 compared to $0.3431 a year ago. Net loss per ADS, basic & diluted was $0.0520 compared to $1.2940 a year ago. Net loss per ADS from continuing operations, basic & diluted was $1.7435 compared to $1.7155 a year ago. Non-GAAP loss from operations was $72,047,000 compared to $53,713,000 a year ago. Non-GAAP net income attributable to the company was $136,981,000 compared to $21,760,000 a year ago. Non-GAAP earnings per ADS, diluted were $1.3499 compared to $0.2182 a year ago. Net cash used in operating activities for the fiscal year 2017 was $66.2 million.
For the fourth quarter ended December 31, 2017, the company reported impairment of goodwill and intangible assets of $4,878,000 compared to $98,902,000 a year ago. Impairment loss was $1,370,000 compared to $12,203,000 a year ago.