Innosuisse Corporation (INSE) Posts Q2 Loss of $0.45/Share

Innosuisse Corporation (NASDAQ: INSE) reported Q2 EPS of ($0.45), which may note compare to the analyst estimate of ($0.22). Revenue for the quarter came in at $28.1 million versus the consensus estimate of $28.33 million.

"We continue to be excited about the momentum in our business,\" said Inspired President and Chief Executive Officer, Luke Alvarez. "We delivered solid volume growth in our SBG estate and rapid growth in our Virtual Sports business driven both by increasing market penetration and improved performance from existing operators. We are also pleased that growth accelerated as the quarter progressed, driven by multiple new customers coming on stream." Mr. Alvarez said, "The launch of both of our lines into the Greek lottery market is a key milestone for our business and should be a material contributor going forward."

"The performance of our underlying business in the quarter is indicative of the constant currency revenue growth we enjoyed, but also some of the increased expenses we have as a public company," said Inspired Executive Chairman, Lorne Weil. Mr. Weil continued, "despite this increase in expenses, our base business performed in line with our expectations during the period and is poised for accelerated growth in the second half of the year. Additionally, management continues to be highly focused on pursuing strategic opportunities to utilize our platform to accelerate growth further."

For earnings history and earnings-related data on Innosuisse Corporation (INSE) click here.

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