WebMediaBrands Inc. Reports Financial Results For Its Fourth Quarter And Year Ended December 31, 2012

WebMediaBrands Inc. (Nasdaq: WEBM) today reported results for the fourth quarter and full year ended December 31, 2012.

Highlights for the fourth quarter of 2012 include:
  • Revenues for the fourth quarter of 2012 were $3.3 million and revenues from trade shows and research increased 24% and 6%, respectively, compared to the same period in 2011.
  • Net loss for the fourth quarter of 2012 was $6.5 million and included a non-cash impairment charge of $5.5 million related to the write-down of goodwill, compared to a net loss of $9.1 million for the same period in 2011.

Highlights for the year ended December 31, 2012 include:
  • Revenues for the year ended December 31, 2012 were $14.0 million compared to revenues of $12.4 million for the year ended December 31, 2011, an increase of 12%. Revenues from research, trade shows and advertising increased 80%, 35% and 18%, respectively, compared to 2011. Inside Network’s market research and data services business, which includes AppData, contributed $1.7 million in revenues during 2012. We acquired Inside Network in May 2011.
  • Net loss was $8.7 million for the year ended December 31, 2012, and included a non-cash impairment charge of $5.5 million related to the write-down of goodwill, compared to a net loss of $11.9 million for the year ended December 31, 2011. Non-GAAP loss, excluding interest, taxes, impairment, depreciation, amortization and stock-based compensation, or EBITDA, was $1.5 million for the year ended December 31, 2012 and included severance-related costs and a loss on the sale of certain assets totaling $402,000. EBITDA loss was $1.6 million for the same period in 2011. Stock-based compensation expense was $528,000 during the year ended December 31, 2012 compared to $991,000 during the same period in 2011.

“Our financial results for the year ended December 31, 2012, included revenue growth of 12%, with our research and trade show businesses leading the way with growth of 80% and 35%, respectively,” stated Alan M. Meckler, Chairman and CEO of WebMediaBrands, Inc. “We have continued to invest in our product offerings, specifically with our research and trade show businesses,” added Meckler. “We remain optimistic and encouraged about the future success and value of our business.”

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