Speedemissions, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2016
August 15, 2016 at 08:00 am EDT
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Speedemissions Inc. announced earnings results for the second quarter and six months ended June 30, 2016. For the quarter, the company's total revenue increased by 5.9% or $46,937 to $841,797 as compared to $794,860 for the quarter ended June 30, 2015 due to the increase in same store sales. Net loss was significantly reduced to $29,282 as compared to a net loss of $246,832 for the quarter ended June 30, 2015, an improvement of $217,550. The company reported a positive EBITDA of $53,369 as compared to a negative EBITDA of $57,320 for the same period a year ago.
For the six months, the company's total revenue increased by 6.1% or $99,684 to $1,727,348 as compared to $1,627,664 for the six months June 30, 2015 primarily due to an increase in same store sales. EBITDA was positive $82,273 as compared to a negative EBITDA of $218,094 for the same period last year. Net loss was significantly reduced to $54,289 as compared to a net loss of $359,428 for the same period ended June 30, 2015, an improvement of $305,139.
Speedemissions, Inc. (Speedemissions) is a retail brand emissions testing and safety inspections company. The Company is operating approximately 19 stores and three mobile testing units in the Atlanta and St. Louis markets. The Company has performed over 2.5 million vehicle emission inspections and nearly 1.25 million vehicle safety inspections. Its emission testing store does not repair cars that fail the emission and/or safety inspection, nor does it offer any other repair services, such as oil changes, brakes, or mufflers. The Company is in the Atlanta, Georgia and St. Louis, MO markets. The Company also offers its customers vehicle emissions testing and repair services in convenient locations.