InnerWorkings Q1 Impacted by Spending Reduction; Harwood Feffer Investigates Company

CHICAGO—May 9, 2013—InnerWorkings Inc., a leading global marketing supply chain company, reported results for the three months ended March 31, 2013.

Quarterly Highlights:

• Revenue was $204.3 million, compared to $188.5 million in the first quarter of 2012.
• Non-GAAP Adjusted EBITDA was $5.8 million, compared to Non-GAAP Adjusted EBITDA of $9.6 million in the first quarter of 2012.
• GAAP diluted earnings per share were $0.02, compared to GAAP diluted earnings per share of $0.07 in the first quarter of 2012.
• Non-GAAP Adjusted Operating Cash Flow was $6.4 million, compared to Non-GAAP Adjusted Operating Cash Outflow of $3.3 million in the first quarter of 2012.
• New organic enterprise account growth was $18.1 million in the first quarter.

"Our team is excited about our global enterprise opportunity," said Eric D. Belcher, CEO of InnerWorkings. "Our pipeline is strong and we expect to achieve our new organic enterprise revenue goals again this year."