Kirsten Hoover
Interim Chief Financial Officer at Acacia Research
The company reported first quarter GAAP operating income of 38,300,000.0 compared to GAAP operating loss of 2,100,000.0 in the same quarter last year, primarily due to the increase in revenues. Energy operations contributed $4,000,000 in operating income during the quarter, which included $4,000,000 in non cash depreciation, depletion and amortization expense and does not reflect a nominal realized hedge loss. Adjusted EBITDA for our energy operations was 7,900,000.0 Manufacturing operations contributed 300,000.0 in operating income during the quarter, which included 1,500,000.0 in non cash depreciation and amortization expense and $400,000 in non recurring transaction related expenses, and $200,000 in severance costs as part of our operational initiatives at Deflecto. Adjusted EBITDA for our manufacturing operations was $2,400,000 Industrial operations contributed $300,000 in operating income during the quarter, which included $600,000 in non cash depreciation and amortization expense, and $200,000 in severance costs as part of our continued operational initiatives at PrintRonix. Adjusted EBITDA for our industrial operations was $1,000,000 GAAP net income attributable to Acacia Research Corporation in the first quarter was 24,300,000.0 or $0.25 per share, compared to a net loss attributable to Acacia of $200,000 or $0 per share in the prior year period.