B. Riley Financial Reports Financial Results for the Third Quarter of 2018
LOS ANGELES, Nov. 05, 2018 (GLOBE NEWSWIRE) — B. Riley Financial, Inc. (NASDAQ:RILY or the “Company”), a diversified financial services company which operates through several wholly-owned subsidiaries, reported results for its third quarter ended September 30, 2018.
Third Quarter 2018 Financial Highlights
- Total revenues of $99.7 million
- Net income of $2.8 million or $0.10 per diluted share
- Adjusted EBITDA of $21.0 million
- Adjusted net income of $6.4 million or $0.24 per diluted share
“Our third quarter results demonstrate strong operating results in our capital markets segment and steady performance of our appraisal and principal investments businesses. We are seeing true leverage from our diversified platform and more instances where clients can engage us for multiple services which has resulted in increased revenue opportunities,” said Bryant Riley, Chairman and Co-Chief Executive Officer, B. Riley Financial. “Highlights for the quarter include our merger with GlassRatner, successful completion of our bond offering, continued penetration of GACP Fund II, our ongoing work related to the Bon-Ton Stores liquidation, and our partnership with bebe stores. Our enhanced platform has also enabled us to attract a number of new key hires as we look to further expand our presence in the marketplace.”