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ModusLink Global Solutions Q1 2015 net revenue was $187.4 million

Staff writer ▼ | December 12, 2014
ModusLink Global Solutions reported financial results for its first quarter of fiscal year 2015 ended October 31, 2014. Net revenue was $187.4 million for the first quarter of fiscal 2015, compared to $191.4 million in Q1 2014.
ModusLink Global Solutions
Lower revenues   $191.4 million in Q1 2014
This change in net revenue was primarily driven by decreased revenues from clients in the computing and consumer electronics markets and decreased revenues from an aftermarket services program related to the repair and refurbishment of mobile devices, offset by a significant increase in revenue from a consumer electronics client.

Gross margin for the first quarter of fiscal 2015 was 10.0% compared to 11.5% in the first quarter of the previous year. The decline was primarily due to an unfavorable revenue mix, primarily associated with lower volumes for a client in the computing industry.

Operating income for the first quarter of fiscal 2015 was $1.2 million, compared to $2.6 million in the first quarter of the previous year.

Net income for the first quarter of fiscal 2015 was $0.2 million, or $0.00 per basic and diluted share, compared with net income of $0.6 million, or $0.01 per basic and diluted share in the first quarter of the previous year.

For the first quarter of fiscal 2015, Adjusted EBITDA was $7.5 million compared to $8.8 million for the same period in fiscal 2014. EBITDA represents earnings before interest, income tax expense, depreciation and amortization, and Adjusted EBITDA represents EBITDA excluding certain items.


 

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