Shares in InterCloud Systems, Inc. (NASDAQ:ICLD) are down 14% pre-market after the single source provider of end-to-end IT technology reported that its Q4 net loss widened.
The net loss was $23.4 million, or $3.24 per diluted share, compared to $0.4 million, or $0.91 per share, a year earlier. Q4, 2013 included items such as a $13.7 million in non-cash expense related to derivative liabilities, $2.3 million in a non-cash expense arising from the change in fair value of contingent consideration, $1.8 million in non-recurring consulting fees and $2.4 million in stock-based compensation.
Adjusted EBITDA showed a loss of $0.03 a share, from a loss of $3.30 a year earlier. Analyst estimates weren’t available.
Revenue gained 5.4% to $11.8 million.
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