TheStreet.com Posts Loss, Revenue Declines

Marketing services revenue was $30.7 million, up 14% from last year. Advertising revenue reached the highest total in the company's history at $23.1 million, 5% above last year's $22 million. Paid services revenue for the year was $41.2 million, up 7%, and subscription revenue was $30.4 million, 11% below 2007.

Syndication, licensing and information services revenue was $10.8 million, more than double the previous year's total of $4.3 million.

As of Dec. 31, cash, restricted cash, cash equivalents and debt securities available for sale totaled $76.4 million. The company has no bank debt. For the full year, the company generated cash flow from operations of $8.7 million, while free cash flow totaled $3 million.

Separately, the company said in a filing with regulators that it won't renew existing contracts with Ashman, Editor-in-Chief David Morrow, General Counsel Teresa Santos and certain other executives. They will instead receive new documents detailing the terms of their employment.

The company said the shift away from contracts follows recent trends in corporate governance and executive compensation that are more favorable to both companies and their shareholders.

Shares of TheStreet.com fell 8 cents, or 3%, to $2.57 in after-hours trading.

>To order reprints of this article, click here: Reprints