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root9B Technologies Announces 2016 Second Quarter Financial Results and Revised 2016 Financial Outlook
root9B Technologies Announces 2016 Second Quarter Financial Results and Revised 2016 Financial Outlook.
About this update from Root9b Holdings Inc
[{"type":"text","content":"\n\n\n\nroot9B Technologies Announces 2016 Second Quarter Financial Results and Revised 2016 Financial Outlook\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:1pt; BORDER-RIGHT:1pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:1pt; PADDING-LEFT:0.50em; BORDER-LEFT:1pt; PADDING-RIGHT:0.50em\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n\n\n\n\n\n\nroot9B Technologies Announces 2016 Second Quarter Financial Results and Revised 2016 Financial Outlook\nPR Newswire\nNEW YORK, Aug. 18, 2016\n\n\n\nNEW YORK, Aug. 18, 2016 /PRNewswire/ -- root9B Technologies (OTCQB: RTNB), announced today its results from operations for the second quarter and revised outlook for certain financial operating metrics for the year ended December 31, 2016.\n\nSecond Quarter 2016 Summary\n\n\nQ2 2016 net revenue rose 28.3% to $10.2 million from $7.9 million in Q2 2015. \nLoss from operations of $3.9 million as compared to $3.1 million in Q2 2015. \nNet loss available to common stockholders of $4.8 million or ($0.06) per diluted share, compared to a net loss of $1.1 million or ($0.02) per diluted share in Q2 2015. Net income in Q2 2016 included $437,000 of derivative expense, while Q2 2015 included a one-time $2.4 million of derivative income. Excluding the derivative effects, the net loss available to common stockholders for Q2 2016 was approximately $4.4 million or ($0.05) per diluted share and for Q2 2015 was approximately $3.6 million or ($0.05) per diluted share.\nOther Business Highlights\n\n\nCompany continues to focus on commercialization, development and growth of our proprietary capabilities within its wholly-owned cybersecurity subsidiary, root9B. We focus our core competencies on cybersecurity and regulatory risk mitigation. \nCompany completed $7.0 million in aggregate financings in the first six months of 2016.\n\"Our Q2 2016 results are disappointing despite new client engagements, which while resulting in increased revenues did not scale to levels sufficient to offset the ramp up of our cybersecurity footi...