GlobalOptions Group Announces Second Quarter Results

GlobalOptions Group, Inc. GLOI today announced results for the second quarter ended June 30, 2010. Revenue for the second quarter of 2010 was $6.5 million compared to $5.4 million for the same period in 2009. Operating income for the company's Forensic DNA Solutions and Products unit grew by 39% to $0.7 million, compared to $0.5 million for the second quarter last year. The operating loss for the second quarter of 2010 was $2.8 million, compared to an operating loss of $2.4 million for the second quarter of last year. Included in the operating loss for the second quarter of 2010 is approximately $1.1 million of professional fees associated with the company's review of strategic and financial alternatives and various sales transactions completed and/or negotiated during the quarter. EBITDA from continuing operations for the second quarter of 2010 was $(2.4) million compared to $(2.1) million last year, and EBITDAS (EBITDA before stock based compensation) from continuing operations was $(2.0) million, compared to $(1.3) million last year. GlobalOptions Group's loss from continuing operations for the second quarter of 2010 was $3.0 million, compared to a loss from continuing operations of $2.6 million for the second quarter of 2009. After factoring in results from discontinued operations, net loss for the second quarter of 2010 was $8.1 million, or $0.58 per share, compared to net losses of $0.8 million, or $0.06 per share, for the second quarter of 2009.