The Company’s balance sheet and financial position remain strong. As of September 30, 2011, the Company’s cash, cash equivalents and investments totaled $56.3 million, working capital is $60.4 million, and the Company has no outstanding bank debt.
Recent Company Highlights
- Announced the release of TechTarget Social Engage™, an innovative new social media platform that enables technology buyers to collaborate with other buyers simultaneously across different online media. Dell was the first customer to take advantage of this platform for their “The power to do more” campaign.
- Announced the launch of three new websites aimed at the cloud market. The sites are: SearchCloudProvider.com™. SearchCloudSecurity.com™ and SearchCloudStorage.com™. These new sites build on the Company’s existing portfolio of cloud and virtualization media by targeting the specific areas of cloud computing that are experiencing the most rapid growth and are in need of the most resources. These sites complement the existing properties in the TechTarget cloud and virtualization portfolio which include: SearchCloudComputing.com™, SearchServerVirtualization.com™, SearchVirtualDesktop.com™, SearchVirtualStorage.com™ and BrianMadden.com™.
- Was the official media sponsor for the fifth consecutive year at VMworld for the “Best of VMworld” Award program in Las Vegas in September and for the second consecutive year in Copenhagen in October.
In the fourth quarter of 2011, the Company expects total revenues to be within the range of $28.7 million to $30.1 million; online revenues within the range of $26.0 million to $27.0 million; events revenues within the range of $2.7 million to $3.1 million and adjusted EBITDA to be within the range of $8.5 million to $9.5 million.Conference Call and Webcast TechTarget will discuss these financial results in a conference call at 5:00 p.m. (Eastern Time) today (November 9, 2011). Supplemental financial information and prepared remarks for the conference call will be posted to the Investor Information section of our website simultaneously with this press release.