IMRIS, Inc. reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported sales of $4,258,000 compared to $10,226,000 a year ago. Operating loss was $6,782,000 compared to $7,707,000 a year ago. Net loss was $7,027,000 compared to $8,203,000 a year ago. Adjusted LBITDA was $5,676,000 compared to $6,260,000 a year ago. Basic and diluted loss per share was $0.14 compared to $0.16 a year ago.

For the six months, the company reported sales of $12,409,000 compared to $18,292,000 a year ago. Operating loss was $12,901,000 compared to $15,481,000 a year ago. Net loss was $14,928,000 compared to $16,581,000 a year ago. Adjusted LBITDA was $10,592,000 compared to $12,632,000 a year ago. Basic and diluted loss per share was $0.29 compared to $0.34 a year ago. Net cash used in operating activities were $2,277,000 against $21,560,000 a year ago. Acquisition of property, plant and equipment was $1,850,000 against $5,067,000 a year ago.

The company provided earnings guidance for the third quarter, full year of 2014 and full year of 2015. For the period, the company expects revenues to be in the range of $6 million to $7 million.

For the full year, the company expects revenues in the range of $30 million to $34 million, compared with the previous range of $44 million to $46 million. The company continues to expect improved 2014 full-year gross profit performance against the prior year. The company anticipates a gross profit margin of approximately 35% to 36%. Total capital expenditures in 2014 are anticipated to be approximately $2.5 million. Total operating expenses expected to be of $33.0 million.

For the full year of 2015, the company anticipates revenues of approximately $60 million to $65 million, reflecting growth in the business and the timing of installations from 2014 to 2015.