TheStreet ( NASDAQ: TST), a leading digital financial media company, today reported financial results for the third quarter of 2011. The Company reported revenue of $14.3 million, a net loss of $(1.5) million and Adjusted EBITDA (1) of $0.5 million for the quarter.
"We made solid progress on our key strategic initiatives during the third quarter. Notable proof points include robust audience growth, continued subscription bookings growth under suboptimal market conditions, important new product launches and improved subscription churn statistics. While performance in the marketing services business reflected sentiments in the financial markets, the overall results benefited from our diversified revenue streams, the stability of subscription revenue and careful cost and cash flow management," said Daryl Otte, the Company’s Chief Executive Officer.
Financial Highlights of Third Quarter 2011
The Company’s revenue of $14.3 million in the third quarter of 2011 was flat compared to the third quarter of 2010.
- Premium Services revenue was $10.0 million in the third quarter of 2011, an increase of 4% compared to the prior year period.
- Premium Services bookings increased 5% in the third quarter of 2011 as compared to the prior year period. As the overwhelming majority of the Company’s Premium Services products are sold on an annual subscription basis, Premium Services bookings over the trailing twelve months are a key determinate of revenue in a given period.
- The average number of paid subscriptions reached 91,539 in the third quarter of 2011, compared to an average of 90,685 in the third quarter of 2010, an increase of 1%.
- Average monthly churn (2) declined to 2.7% in the third quarter of 2011, an improvement of 110 basis points as compared to 3.8% in the third quarter of 2010.
- Marketing Services revenue was $4.3 million in the third quarter of 2011, a decrease of 7% compared to the prior year period.
- Average monthly unique visitors to the Company’s network of sites for the third quarter of 2011, as measured internally, increased more than 40% as compared to the prior year period.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV