This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Knot Reports First Quarter 2011 Financial Results

The Knot, Inc. (NASDAQ: KNOT, www.theknot.com), the premier media company devoted to weddings, nesting and babies, today reported financial results for the first quarter ended March 31, 2011.

First Quarter Summary Results

Total revenue for the quarter was $27.5 million, flat compared to the first quarter of 2010. The results were again led by online advertising as national online advertising grew 18% and local online advertising was up 15% compared to the first quarter last year. The increase in both national and local online advertising was boosted by 15% growth in publishing as both national and local print publications saw solid gains in advertising. These gains were mostly offset by the anticipated declines in registry services and merchandise revenue, which were primarily the result of the change in the Macy’s relationship announced last January. Revenue in the first quarter of 2010 included a one-time $1 million termination fee paid to the Company by Macy’s. Despite flat revenue year over year, gross profit for the quarter was $22.3 million, up 3% year over year due to the shift in revenue mix to higher margin online advertising.

For the quarter ended March 31, 2011, the Company’s operating loss was $1.1 million compared with an operating loss of $0.2 million in the first quarter of 2010. The net loss for the quarter was $0.7 million or a net loss of $0.02 per share, compared to a net loss of $0.1 million and $0.00 per share last year in the first quarter.

The Company’s balance sheet reflects cash and cash equivalents of $101.0 million, down $38.6 million from $139.6 million at December 31, 2010, primarily due to the repurchase of 3.7 million shares of common stock from Macy’s on February 25, 2011.

“Our multi-platform strategy is yielding strong results in our profitable national and local advertising businesses as our brands continue to deliver a targeted audience to our advertisers’ services and products, “said Chief Executive Officer David Liu. “With a strong start to the year, these businesses are leading the way as we continue to execute on the long-term opportunities to serve our advertisers, brides, newlyweds, and first-time parents.”

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,947.95 +32.88 0.19%
S&P 500 1,966.82 +2.14 0.11%
NASDAQ 4,413.4610 +17.2570 0.39%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs