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TechTarget Reports Fourth Quarter And Full Year 2012 Financial Results

Technology media company TechTarget, Inc. (NASDAQ: TTGT) today announced financial results for the three months and year ended December 31, 2012.

With respect to results for the quarter, total Q4 2012 revenues decreased 12% to $25.4 million compared to Q4 2011. Q4 2012 online revenue decreased by 13% to $22.6 million compared to Q4 2011. Online revenues represented 89% of total Q4 2012 revenues. Q4 2012 events revenue decreased by 7% to $2.7 million compared to Q4 2011 and represented 11% of total Q4 2012 revenues. Total 2012 revenues decreased 5% to $100.0 million compared to 2011. Total 2012 online revenue decreased by 4% to $88.2 million compared to 2011. Online revenues represented 88% of total 2012 revenues. Total 2012 events revenue decreased by 11% to $11.8 million compared to 2011 and represented 12% of total 2012 revenues.

Adjusted EBITDA (earnings before interest, other income and expense, income taxes, depreciation, and amortization, as further adjusted to eliminate stock-based compensation) for Q4 2012 decreased 32% to $5.8 million compared to $8.5 million for Q4 2011. Adjusted EBITDA for full year 2012 decreased 21% to $20.0 million compared to $25.3 million for the full year 2011.

The Company generated $3.8 million of cash in the quarter and $13.1 million in the year.

Total gross profit margin for Q4 2012 was 74%, compared to 77% for Q4 2011. Online gross profit margin decreased to 75% for Q4 2012, compared to 79% for Q4 2011. Events gross profit margin increased to 63% for Q4 2012, as compared to 60% for Q4 2011. Total gross profit margin for full year 2012 was 72%, compared to 74% for full year 2011. Online gross profit margin decreased to 73% for full year 2012, compared to 76% for full year 2011. Events gross profit margin remained flat at 64% for full year 2012.

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