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Revenues gain 14% at CommerceHub in Q3

Published 11/07/2016, 07:42 PM
Revenues gain 14% at CommerceHub in Q3
CHUBA
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  • Recent spin-off CommerceHub (NASDAQ:CHUBA) saw more of the same in its Q3 results, as revenues grew in double digits (as in its first report this summer) but adjusted profits declined again.
  • Revenues were up 14% -- up 18% if excluding revenue from customers in the Mercent acquisition -- and gross margin grew to 74% from 68%. Adjusted net income fell to $1.7M from a previous $4.1M, and EBITDA slipped to $5.3M from the previous $8.2M.
  • Total customers came to 9,930, up from a year-ago 9,316.
  • Free cash flow was $12M vs. the prior year's $4M; cash at quarter's end was $17.6M, vs. total borrowings outstanding of $41M.
  • Press Release

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