READ MORERevenue of $71.0 million for 3Q 2018 increased 20.1% compared to 2Q 2018 and decreased 10.7% compared to 3Q 2017.
Cash SG&A of $12.4 million for 3Q 2018 (excluding stock compensation expense of $2.2 million) decreased 5.3% compared to 2Q 2018 and decreased 25.2% compared to 3Q 2017.
Net income (loss) of ($3.9) million for 3Q 2018, compared to ($75.0) million for 2Q 2018 and net loss from continuing operations of ($3.4) million for 3Q 2017.
GAAP earnings (loss) per share ("EPS") of ($0.07) for 3Q 2018, compared to ($1.30) for 2Q 2018 and EPS from continuing operations of ($0.06) for 3Q 2017.
Adjusted EPS of ($0.06) for 3Q 2018, compared to ($0.34) for 2Q 2018
nd adjusted EPS from continuing operations of ($0.06) for 3Q 2017. Adjusted EPS for 3Q 2018 excludes an after tax charge of $0.4 million, or $0.01 per share, related to a loss on sale of business and deferred tax asset valuation allowance.
Adjusted EBITDA, a non-GAAP measure, of $2.0 million for 3Q 2018, compared to ($4.0) million in 2Q 2018 and $3.3 million in 3Q 2017, a $6.0 million sequential improvement.
Free cash flow (operating cash flow less capital expenditures) of ($6.2) million for 3Q 2018, compared to ($8.7) million for 2Q 2018 and $6.8 million for 3Q 2017. This was primarily due to working capital investments of $6.5 million as our Days Sales Outstanding ("DSOs") increased, due to the growth of our foreign revenues which carry longer payment terms compared to our domestic revenue.
Net debt position of $51.6 million at end of 3Q 2018 increased from $46.0 million at end of 2Q 2018, principally due to an increase in DSOs. We are striving to reduce net debt by year end. ■