Walker Innovation Inc fka WLKR

[TallTrader]

Walker Announces Fourth Quarter and Full Year 2016 Results

Fourth Quarter 2016 Highlights

- The Company recorded a realized gain of approximately $7.1 million in connection with its exercise and sale of 3.75 million shares associated with its warrant to acquire shares of The Upside Commerce Group, LLC (“Upside”), a new business travel service founded and launched by Jay Walker.
- The Company recorded a non-cash, unrealized gain of approximately $7.6 million in connection with the ownership of its warrant to acquire shares of Upside. The Company still holds a warrant to purchase 12.65 million shares of Upside.
- The Company recognized revenue of approximately $1.9 million during the fourth quarter of 2016 compared to $2.0 million for the fourth quarter 2015.
- The Company reported net income for the fourth quarter of 2016 of $15.4 million, or $0.43 per share on a diluted basis, compared to a net loss of $0.4 million, or a loss per share of $0.02, in the prior-year period.
- As of December 31, 2016, Walker Innovation had $10.3 million in cash and no outstanding long-term debt on its consolidated balance sheet.

http://www.businesswire.com/news/home/20170207006291/en/Walker-Innovation-Announces-Fourth-Quarter-Full-Year