WebMediaBrands Inc. (Nasdaq: WEBM) today reported financial results for the quarter ended September 30, 2012.
Highlights for the third quarter of 2012 include:
|•||Revenues for the third quarter of 2012 were $2.9 million and revenues from research and advertising increased 13% and 12%, respectively, compared to the same period last year.|
|•||Net loss for the third quarter of 2012 was $1.2 million. Non-GAAP loss, excluding interest, taxes, depreciation, amortization and stock-based compensation expense, or EBITDA, was $773,000 during the third quarter of 2012, and included severance-related costs and a loss on the sale of certain assets totaling $352,000. We track the EBITDA metric and present it here because we believe it helps in the analysis of the performance of our core operations. Non-cash stock-based compensation expense was $121,000 during the third quarter of 2012.|
“The third quarter results were anticipated and were discussed in both our first and second quarterly conference calls,” stated Alan M. Meckler, Chairman and CEO of WebMediaBrands, Inc. “Our third quarter results are typically impacted by the fewer number of trade shows we hold and by the type of education courses we offer. We have continued to invest in our product offerings, specifically with our research business. In addition, we have identified cost efficiencies in certain areas of the business and we have entered into a new lease for our New York City location, which will reduce our annual lease expense by more than $250,000,” added Meckler.
WebMediaBrands Inc. Third Quarter 2012 Financial Results Conference Call AlertWebMediaBrands Inc. invites you to participate in its conference call reviewing 2012 third quarter results on Wednesday, October 24, 2012 at 5:00 pm ET.