Marathon Patent Group (MARA) Tops Q1 EPS by 8c

Marathon Patent Group (NASDAQ: MARA) reported Q1 EPS of ($0.16), $0.08 better than the analyst estimate of ($0.24). Revenue for the quarter came in at $2.1 million versus the consensus estimate of $2 million.

Doug Croxall, Chief Executive Officer of Marathon, stated, "When we released our 2015 year end results at the end of March, I indicated that we believed we were well positioned for 2016, believing it would be a very different year for our Company. I'm pleased to announce that as of today, our year-to-date 2016 revenues are in the approximate $35 million range, rapidly approaching almost double our entire 2015 fiscal year end results, leading to a substantial strengthening of our balance sheet."

Croxall continued, "While we have made considerable progress as of late due to numerous sizeable successful licensing agreements, we still continue to maintain a full calendar of potential revenue events during the balance of 2016 and into 2017. We are keenly aware of the importance of replenishing our asset base. While we still possess the ability to add additional defendants in existing portfolios, we have been in active discussions to further bolster our IP asset base."

For earnings history and earnings-related data on Marathon Patent Group (MARA) click here.

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