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Creative Realities announces 3Q19 financial resultsLOUISVILLE, Ky., Nov. 7, 2019 /PRNewswire/ -- Creative Realities, Inc. ("Creative Realities," "CRI," or the "Company") (NASDAQ: CREX, CREXW), a leading provider of digital marketing solutions, announced its financial results for the three- and nine-months ended September 30, 2019. Rick Mills, Chief Executive Officer, remarked, "First and foremost I would like to thank Alec Machiels, who has stepped down effective November 8, 2019 as the Company's Chairman of the Board, for his service to the Company over the past 5 years. Alec has provided excellent leadership for the Board and to me as Chief Executive Officer of CRI. That said, I am incredibly excited by the opportunity to announce Dennis McGill as Chairman of the Board effective November 8, 2019. Dennis has had a tremendous career assisting various public and private companies accelerate their growth and we look forward to him joining our team as we look to take further steps to grow this company." Mr. Mills added, "CRI achieved quarterly revenue of $6.7 million for the three-months ended September 30, 2019, resulting in year-to-date revenue $25.5 million for the nine-months ended September 30, 2019. These results represent 48% growth year-over-year for the nine-months. The Company achieved Adjusted EBITDA of $426 thousand in the quarter and $1.8 million year-to-date, reflecting the operating leverage inherent in our model as we grow revenues." 2019 Third Quarter Financial Overview
Conference Call Details The Company will host a conference call to review the results and provide additional commentary about the Company's recent performance, which is scheduled for Friday, November 8, 2019 at 9:00 am Eastern Time. Prior to the call, participants should register at http://bit.ly/criearnings2019Q3. Once registered, participants can use the weblink provided in the registration email to listen to the live webcast. An archived edition of the second quarter earnings conference call will also be posted on our website at www.cri.com later that same day and will remain available to interested parties via the same link for one year. About Creative Realities, Inc. Cautionary Note on Forward-Looking Statements These forward-looking statements may reflect management's present expectations and estimates regarding future expenses, revenue and profitability, trends affecting our financial condition and results of operations, operating efficiencies, revenue opportunities, potential new markets, and the ability of the Company to effectively compete in a highly competitive market. Nevertheless, and despite the fact that management's expectations and estimates are based on assumptions management believes to be reasonable and data management believes to be reliable, the Company's actual results, performance, or achievements are subject to future risks and uncertainties, any of which could materially affect the Company's actual performance. Risks and uncertainties that could affect such performance include, but are not limited to: the adequacy of funds for future operations; future expenses, revenue and profitability; trends affecting financial condition and results of operations; ability to convert proposals into customer orders; the ability of customers to pay for products and services; the impact of changing customer requirements upon revenue recognition; customer cancellations; the availability and terms of additional capital; ability to develop new products; dependence on key suppliers, manufacturers and strategic partners; industry trends and the competitive environment; the impact of the Company's financial condition upon customer and prospective customer relationships; and the impact of losing one or more senior executives or failing to attract additional key personnel. These and other risk factors are discussed in Company reports filed with the Securities and Exchange Commission. Given these uncertainties, and the fact that forward-looking statements represent management's estimates and assumption as of the date of this press release, you should not attribute undue certainty to these forward-looking statements. We assume no obligation to update any forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in any forward-looking statements contained in this press release, even if new information becomes available in the future. View original content to download multimedia:http://www.prnewswire.com/news-releases/creative-realities-announces-3q19-financial-results-300954428.html SOURCE Creative Realities, Inc. |