Earnings Roundup: PRGX Global, Inc. (NASDAQ: PRGX)

On Monday, PRGX Global, Inc. (NASDAQ: PRGX) negotiated 37,131 shares against it an average volume of 91,492 shares. The stock concluded the recent trade at $9.45 with downbeat trend move of -1.05 percent. The company has total market value of 218.854 million. The company has got a 52-week exceptional price of $10.30 and reached a 52-week lowest of the share price at $5.40. The daily trading range was observed between a day’s low price of $9.40 to a day’s high price of $9.60.

PRGX Global, Inc. (PRGX) recently revealed its unaudited financial results for the 1^st quarter ended March 31, 2018.

Consolidated Results from Continuing Operations for the 3- Months Ended March 31, 2018

Consolidated revenue from continuing operations for the 1^st quarter of 2018 was $36.7M, contrast to $33.6M for the same period last year, a raise of 9.4 percent.  1^st quarter 2018 revenue from the Recovery Audit Services sections was $36.0M contrast to $32.2M in the previous year, and from the Adjacent Services section was $0.7M contrast to $1.4M in 2017.  On a constant dollar basis adjusted for changes in foreign exchange rates, revenue raised by 5.7 percent in the first quarter of 2018, and contrast to the same period in the previous year.  On a constant dollar basis, revenue from the Recovery Audit Services sections raised 8.1 percent in the first quarter of 2018 contrast to the same period in 2017.

Total cost of revenue from continuing operations for the 1^st quarter of 2018 was $24.8M, or 67.6 percent of revenue, contrast to $23.0M, or 68.5 percent of revenue, in the same period last year, representing a 0.9 percent improvement as a percentage of revenue.

SG&A expenses from continuing operations for the 1^st quarter of 2018 were $11.3M, contrast to $10.5M in the previous year period.  The raise in SG&A expenses was primarily attributable to stock- based compensation expense and investments in our sales, marketing and product development teams.

Consolidated net loss from continuing operations for the 1^st quarter of 2018 was $2.3M, or $(0.10) per basic and diluted share, contrast to a net loss of $1.8M, or $(0.08) per basic and diluted share, for the same period in 2017.

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) from continuing operations for the 1^st quarter of 2018 was $3.3M, or 9.0 percent of revenue, contrast to Adjusted EBITDA of $2.2M, or 6.4 percent of revenue, in the first quarter of 2017, an raise of $1.1M or 52.0 percent.  Schedule 3 attached to this press release provides a reconciliation of net income (loss) to each of EBIT (Earnings before Interest and Taxes), EBITDA and Adjusted EBITDA.

Cash Flow and Liquidity

Net cash used in operating activities for the 1^st quarter of 2018 was $3.0M, contrast to net cash used of $3.3M in the 1^st quarter of the previous year.  The 1^st quarter 2018 use of operating cash included the payout of $5.4M related to performance based restricted stock units granted in 2016.  Not Including this payout, cash flow from operating activities was $2.4M, an improvement of $5.8M contrast to the previous year.

At March 31, 2018, the Company had unrestricted cash and cash equivalents of $15.0M, and borrowings of $13.6M against its $35.0M revolving credit facility.

(PRGX) has price-to-cash ratio of 14.84 and price to sale ratio of 1.34. The stock price is moving up from its 20 days moving average with 0.15 percent and isolated negatively from 50 days moving average with -0.47 percent. The company net profit margin is 1.60 percent and gross profit margin is 37.00 percent.

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