This Day On The Street
Continue to site
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

Limelight Networks(R) Reports First Quarter 2013 Financial Results

TEMPE, Ariz., May 9, 2013 (GLOBE NEWSWIRE) -- Limelight Networks, Inc. (Nasdaq:LLNW) ("Limelight"), a global leader in Digital Presence Management, today announced first quarter 2013 financial results.

"Today Limelight reported revenue for the first quarter of 2013 of $45.8 million and adjusted EBITDA of $2.8 million. In my first full quarter at Limelight, I placed a strong emphasis on driving focus and a high level of execution across our business in order to deliver superior service to our customers and build shareholder value," said Bob Lento, Chief Executive Officer. "We began to implement changes to improve our sales organization's productivity and increase the effectiveness of our sales and marketing investments, and we put in place processes within R&D to accelerate product time to market and increase the quality of each solution. I am encouraged by our progress during the quarter."

Recent Business Highlights

Limelight continues to enhance its position as a leader in the Digital Presence Management marketplace.
  • First quarter 2013 value added services were 35% of total revenue, up from 32% in the fourth quarter of 2012.
  • Limelight was named a Strong Performer by Forrester in the Forrester Wave: Online Video Platform report.
  • We launched our thought leadership book, Digital Presence for Dummies, which was published by Wiley and is the industry's first guide to digital presence. Demand for the book is strong, and within just a few weeks of hitting the digital airwaves, the book was named a 2013 Killer Content Award winner by the DemandGen Report.
  • During the first quarter of 2013, Limelight announced George Vonderhaar as Chief Sales Officer and Jonathan Smith as Managing Director and Vice President of Europe, Middle East and Africa.

Financial highlights for Limelight's 2013 first quarter included:
  • Revenue from continuing operations of $45.8 million.
  • Adjusted EBITDA of $2.8 million.
  • Cash flows from operations of $2.7 million.
  • Non-GAAP net loss, before share-based compensation, litigation expenses, amortization of intangible assets, acquisition-related expenses, and discontinued operations of $4.0 million, or $0.04 cents per basic share.
  • GAAP loss from continuing operations of $8.1 million, or $0.08 cents per basic share.
  • Capital expenditures of $2.6 million.
  • The Company ended the quarter with no bank debt and approximately $120 million in cash and cash equivalents and short-term marketable securities.

Stock Buyback Program

During the first quarter, the Company repurchased approximately $5.5 million of common stock under the $10 million repurchase plan that the Board of Directors authorized on October 29, 2012. The Board of Directors previously authorized the repurchase of a total of $50 million in common stock under three separate repurchase plans, the first of which was authorized in September 2011. With the first quarter repurchases, the third stock repurchase program is now complete.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs