ICG Announces First Quarter 2014 Financial Results: Company Reports Strong First Quarter Results (ICGE) ("ICG") today reported its results for the first quarter ended March 31, 2014.
Revenue was $18.4 million for the first quarter of 2014, compared to $12.0 million for the first quarter of 2013. Net loss for the first quarter of 2014 was $(10.2) million, or $(0.27) per diluted share, compared to net income of $19.1 million, or $0.52 per diluted share, for the corresponding 2013 period. The first quarter of 2013 reflects the gains that ICG realized on the Channel Intelligence and Investor Force sales. Non-GAAP net income (loss) for the first quarter of 2014 was $(3.6) million, or $(0.10) per share, compared to a Non-GAAP net income (loss) of $(5.2) million, or $(0.14) per diluted share, for the prior year quarter.
"We were pleased to start 2014 with a strong first quarter," said Walter Buckley, chief executive officer of ICG. "We experienced excellent revenue growth across all of our businesses, demonstrating the success of our aggressive sales and marketing efforts, and we look forward to building on our positive momentum throughout the remainder of the year."
"We continue to drive growth at our existing businesses and we are also poised to capitalize on the power of the cloud to transform other industry-specific vertical markets," added Buckley. "As a reflection of ICG's evolution in our pursuit of this significant opportunity, we are engaged in a renaming and rebranding process and adopting a new ticker symbol. We are seeking stockholder approval for our new name, Actua Corporation, and look forward to unveiling our new brand in the coming months." |