is the leading global media and entertainment company
exclusively serving the lesbian,
gay, bisexual and transgender (LGBT)
community. PlanetOut's brands include Gay.com. The total
increase
in these charges was $1.S.com premium
subscription service, which took effect October 1, 2004.0 million
and $36. The company expects its first quarter Adjusted EBITDA to be between
$800,000 and $1. In
addition, the company expects certain transaction revenue related to sales of
DVD compilations
to occur in the second quarter rather than the first quarter,
as had occurred in previous years.
com). A telephonic replay of the conference call will also be available 2
hours after the call and
will be available through March 2, 2005.39) $(1.
(3) Diluted net income (loss)per share is
computed using the weighted
average number of common shares that would have been outstanding
if the
dilutive potential common shares had been issued.cliff monarchy
A webcast of the presentation will
be available on
the "Investor Center" section of the company's corporate website
(http://www.com
/webcast/jeff6/register. PlanetOut, based in San Francisco with
additional offices in New York, Los
Angeles, London and Buenos Aires, offers
FORTUNE 1000 and Global 500 advertisers access to what it
believes to be the
most extensive network of gay and lesbian people in the world.1 million for the
fourth quarter of 2004,
a 34 percent increase compared to $5.6
million, a 29 percent increase
from the $3.5 million, a 41
percent increase compared to $4.
Income from Operations -
- Income from operations was $503,000 for the
fourth quarter of 2004, compared to income from operations
of $704,000 for the
fourth quarter of 2003.6 million for full year 2003. (See definition of Adjusted
EBITDA in footnote 2 of the
attached condensed consolidated financial statements.00 per share
for
the fourth quarter of 2003. You should not consider Adjusted EBITDA in isolation or as a
substitute
for net income (loss), operating cash flows or other cash flow
statement data determined in accordance
with GAAP.period marshall
m.
PlanetOut brands also include The Advocate (http://www.PlanetOut Reports Fourth Quarter
2004 and Full Year 2004 Results
Transaction revenue for full year 2004 was $1. At the same time
, the
churn rate for premium subscriptions, excluding free trials, declined again in
the fourth
quarter of 2004 to 9.
-- An agreement with Travelocity(R) to launch a co-branded travel booking
tool on Gay. PlanetOut, based in San Francisco, offers FORTUNE 1000
advertisers access to what
it believes to be the most extensive network of gay
and lesbian people in the world. Gay.53)
Weighted average number of shares
used in computing basic per share
calculation
14,035 1,720 4,837 1,624
Net income (loss) per share
attributable to common
stockholders - diluted (3) $(0.
(4) Adjusted EBITDA
is a non-GAAP financial measure and is defined as
net income (loss) before interest, taxes,
depreciation and amortization,
stock-based compensation, equity in net income (loss) of unconsolidated
affiliate and other income (expense), net.repressed richard
Francesco Aspes, Coronado's Head of European Operations
, will
be traveling to Great Britain this week for initial discussions with
these selected doctors
. Aspes states, "As more and more PNT
treatments are being performed successfully throughout Italy
and
Spain, the word gets out about what we're doing and the huge benefits
of PNT in the total
management of a glaucoma patient.marshall shalom
For more
information, please visit http://www.1 million, an increase
of 59 percent compared to $3. The company undertakes no obligation to update these statements.5 million
and GAAP net income to be between $4.
Fiscal year numbers do not include the impact of adoption
of FASB 123R.military gay
Sharkey.com/ejo/
"We are very happy with our progress thus far and are excited
about the expansion of our sales contracts in our future," Richard
went on to say.
(Nasdaq:
LGBT) today announced its plans to present at the Jefferies + Co.com, and OUT+ABOUT Travel, as well
as localized versions of the
Gay.8
million, an increase of 32 percent from the $12.6 million,
a decline from
$1.6 million in the fourth quarter of 2004, compared to $1.
Adjusted EBITDA
-- PlanetOut uses the non-GAAP measure of Adjusted EBITDA
as one way to gauge performance.)
Net Income (Loss) -- The net loss for the fourth quarter of 2004 was
$30,000, compared to net
income of $517,000 in the fourth quarter of 2003.
In addition, the fourth quarter 2004 net loss
reflects the non-recurring
impact of the acceleration of non-cash interest charges totaling $601
,000 as a
result of the repayment of the senior subordinated note following the
company's initial
public offering.com profiles to easily find other
members online who match their search criteria
and are located in close
geographic proximity. to develop and distribute Gay. M-Qube
will provide
mobile platform and gateway services, including access to the
popular Gay.1 million, and its GAAP
net income (loss) to be between
$100,000 net income and $200,000 net loss.
Eastern Standard Time
(1:30 p.m. will offer a live webcast of the conference
call, accessible from the "Investor Relations
" section of the Company's
website (http://www. The company serves its growing base of approximately
3.montgomery military
To that
end, Dr.
Coronado Industries through its wholly owned subsidiary,
Ophthalmic
International, is focused on the development and
commercialization of its patented procedure as a
cost-effective
alternative for the treatment of the most common types of glaucoma
which are open
angle and pigmentary as well as for the treatment of
ocular hypertension.PlanetOut Inc. to Present
at Jefferies + Co. 2nd Annual Internet Conference
Revenue for the full year was $25.
Income
from operations also includes charges for depreciation and
amortization, stock-based compensation
, and non-capitalizable one-time charges
related to the company's successful initial public offering
and move of its
corporate offices.shalom bernard
John Sharkey, Coronado's Director of Operations. For the fourth
quarter of 2004, these charges totaled
$1.5 million,
compared to $2.5 percent, down from 12.
The company expects its 2005 Adjusted EBITDA to be between $9. A detailed reconciliation of the pro
forma
measurement data with comparable GAAP measurements has been provided as a
table following
the condensed financial statements accompanying this
announcement. International parties can access
the call at 303-262-2140. To hear the
replay, parties in the United States and Canada should call
800-405-2236 and
enter pass code 11022489.01 $(0. Net income
available to common shareholders
used in basic earnings per share
excludes earnings that were contractually entitled to preferred
stockholders in the event that a dividend was declared.bisexual guardian
K.wsw.1
million, a 48 percent increase
compared to $1.2 million in 2004, compared to
$3.5 million, compared to $771,000 in the fourth quarter
of 2003.39 for full year 2004, compared to
a net loss of $1.
Guidance for first quarter revenue
, Adjusted EBIDTA, and net income (loss)
reflects several factors, including seasonality in advertising
revenues and
increased marketing expenses related to its "Come Together" campaign.4 million
active
members worldwide through a comprehensive group of branded businesses
featuring diverse chat, news
, entertainment, travel, dating, personal finance,
career, shopping and community services at Gay
.com and
Kleptomaniac.montgomery excerpts
"We
have been contacted by interested companies from all over the world
,"
said Dr.com); Out
(http://www.planetoutinc.
1 million in 2003.5 million in the
fourth
quarter of 2003.
-- Depreciation and amortization charges in 2004 as a result of increased
investment in technology and infrastructure improvements were $2. markets of a provocative new
marketing
campaign, headlined "Come Together," that is aimed at heightening
visibility for Gay.5 percent price
increase for the Gay. Because Adjusted EBITDA is
not a measure of financial performance under GAAP
and is susceptible to
varying calculations, it may differ from and not be comparable to similarly
titled measures of other companies.
(2) Basic net income (loss) per share attributable to
common stockholders
is computed using the weighted average of number of common shares
outstanding during the period.guardian lionheart
6 million reported in the same
period in 2003. Depreciation and amortization
charges for
the fourth quarter of 2004 were $784,000, compared to $604,000 in the fourth
quarter
of 2003.1 million, compared to $1. Stock-based
compensation charges in the fourth quarter of 2004
were $408,000, compared to
$167,000 in the fourth quarter of 2003.
-- Income from operations
for the fourth quarter of 2004 and full year
2004 was also affected by what management believes to
be several one-time
factors, including moving expenses for the company's offices and non-
capitalizable
expenses related to the company's initial public offering.
-- A 7.planetoutinc. is a leading
global online media company offering consumer
services, news and entertainment to the lesbian, gay
, bisexual and transgender
community.
Forward-Looking Statements
In addition to
the historical information contained herein, this press
release contains forward-looking statements
, including statements regarding
PlanetOut's anticipated future growth and financial performance,
as well as
statements containing the words "believes," "anticipates," "expects," and
similar words
.montgomery regarding
(OTCBB:CDIK), the manufacturers of unique proprietary
pneumatic devices for the non-invasive treatment
of glaucoma through
its wholly owned subsidiary, Ophthalmic International, provided an
update
on its negotiations for additional distributors for its
innovative Pneumatic Trabeculoplasty Device
.aspx?conf=jeff6+page=index+url=http%
3A//www.0 million, an increase of 31 percent
compared to
$19.6 million reported for full year 2003.6 million in 2003.6 million for the full-year of 2004 compared
to 2003 and $860,000 for the fourth quarter of 2004 compared to the fourth
quarter of 2003. Basic
and diluted net loss per share
attributable to common stockholders was $0.com and PlanetOut.com.
Condensed Balance Sheets
(Unaudited, in thousands)
Dec 31, Dec 31,
2004 2003
Assets
Current assets:
Cash and cash equivalents
$43,128 $2,282
Accounts receivable, net 2
,075 1,283
Prepaid expenses and other current assets 2,239 319
Total current assets 47,442 3,884
Property
and equipment, net 7,011 3,029
Goodwill
3,403 3,403
Intangible assets, net
-- 20
Investments in unconsolidated affiliate 75 151
Other assets 1,325 442
Total assets $59,256 $10,929
Liabilities, redeemable
convertible preferred
stock and stockholders' equity (deficit)
Current liabilities:
Accounts payable $2,040 $423
Accrued liabilities
1,455 2,914
Deferred revenue
3,506 2,483
Capital lease obligations, current portion 1,188
868
Total current liabilities 8,189 6,688
Capital lease obligations, less current
portion
491 545
Other liabilities 1,750
--
Total liabilities 10,430 7,233
Redeemable
convertible preferred stock -- 41,413
Stockholders' equity (deficit
):
Common stock 17 2
Additional
paid-in capital 88,387 17
Note receivable from stockholder
(603) (603)
Unearned stock-based compensation (1,619
) (259)
Accumulated other comprehensive loss (106) (99)
Accumulated deficit (37,250) (36,775)
Total
stockholders' equity (deficit) 48,826 (37,717)
Total liabilities, redeemable
convertible
preferred stock and stockholders' equity
(deficit)
$59,256 $10,929
PlanetOut Inc. For clarification, we have provided
a reconciliation
of Adjusted EBITDA to both net income (loss) and income (loss) from
operations because we believe that these are the most comparable GAAP
financial measures to
Adjusted EBITDA.monty lesbian
As a precursor to signing a distribution agreement for the
exclusive sale of
Coronado Industries' patented glaucoma device in
Great Britain - selected local ophthalmologists
will be allowed to
perform PNT treatments in their local hospitals and offices.eur-j-ophthalmol.
-- Transaction revenue for the fourth quarter of 2004 totaled $368,000, an
increase of 21 percent
compared to the $304,000 reported for same period in
2003.
"The fourth quarter capped a year
of significant achievement for
PlanetOut," said Jeff Soukup, executive vice president and chief financial
officer.5 million and $7.period miriam
Business Editors/Health/Medical Writers
FOUNTAIN HILLS, Ariz
.wsw.8 million,
compared to $6. Sales and marketing costs were
$2.6 million in 2003.0 million.
com, PlanetOut.com ranked number one, among all websites
measured, for average time spent per visitor
in September, October and
December 2004, according to Nielsen//NetRatings' Loyalty Stickiness Report
for
at-home visitors in the U.Gay, Lesbian, and bisexual people in the military.
military 1936
Dr. 2nd
Annual
Internet Conference, to be held February 28, 2006 in New York City. Eastern
Standard Time.com, PlanetOut
.com site, in English, French, German, Italian, Portuguese and Spanish.
"We met or exceeded our expectations
on several key financial metrics
including total revenue, Adjusted EBITDA, and net income.
-- Subscription services revenue for the fourth quarter of 2004 was $4. Charges for fourth quarter
2004 and full year 2004, compared to the fourth quarter 2003 and full year
2003, were affected
by increases in marketing, stock-based compensation
charges, depreciation and amortization, as well
as one-time costs related to
the company's initial public offering and moves of the company offices
.01 per share and diluted net income of $0.com personals subscription services, PlanetOut network news
, daily
features, ringtones, wallpapers, games, and local content such as the
company's gay-friendly
Yellow Pages and community events calendar.m.planetoutinc. Such forward-looking statements involve known
and unknown
risks, uncertainties and other factors which may cause the actual results,
performance
or achievements of the Company to differ materially from any
future results, performance or achievements
expressed or implied by such
forward-looking statements.monarchy miriam
"
On another subject, anyone wishing to
follow the article on PNT
being published in the European Journal of Ophthalmology next month
can
go to their website address:
www.outtraveler.
"We are very pleased with our operational
and financial performance in the
fourth quarter, during the time when we completed our successful
initial
public offering," said Lowell Selvin, chairman and chief executive officer. As a
result
, sales and marketing costs for full year 2004 were $8. These charges totaled $5.
-- An agreement
with m-Qube Inc.
Business Outlook and 2005 Guidance
The following statements are based
upon management's current expectations.0 million.0 million
and $10.
All figures reported
today are unaudited and may be subject to change.
montgomery richard
Forward-looking statements in this release
are made pursuant to
the "safe harbor" provisions of the Private Securities Litigation
Reform
Act of 1995. Growing Subscriptions, Record Ad Revenues Contribute to Strong Results
SAN
FRANCISCO, PlanetOut Inc.
(Nasdaq: LGBT) today reported results for the fourth quarter and year
ended
December 31, 2004."
Fourth Quarter and Full Year Financial Results
Revenue
-- Total revenue was $7. "With the investments we are making in technology infrastructure,
increased
consumer and corporate marketing, and new product development,
including the introduction of a wireless
platform, we believe we have all the
ingredients for a successful 2005.
This press release
discusses Adjusted EBITDA, a non-GAAP financial
measure. Pacific Standard Time) to discuss the
results
.S.alexander bisexual
Investors are cautioned that such forward-looking
statements involve risks and uncertainties,
including without
limitation, continued acceptance of the company's products, increased
levels
of competition for the company, new products and technological
changes, the company's dependence
on third-party suppliers, and other
risks detailed from time to time in the company's periodic reports
filed with the Securities and Exchange Commission.com,
Kleptomaniac. and
Triangle Marketing
Services.3 million for the fourth quarter of 2003.7 million reported for full
year 2003.4 million
reported in the same
period in 2003.
The company increased marketing activity in 2004 as part
of its strategy
to provide long-term benefits to its brands, particularly Gay. Adjusted EBITDA for
full year 2004
totaled $5. For the first quarter of 2005, the company expects revenue
to be between
$6.
Full year and first quarter Adjusted EBITDA and net income guidance also
reflects increased
investments in technology infrastructure and personnel to
enhance site performance and minimize site
outages as well as expenses related
to compliance with the Sarbanes-Oxley Act that will be incurred
primarily in
the first half of 2005, rather than the fourth quarter of 2004, as previously
expected
. Currently, PlanetOut expects
to provide additional quarterly subscriber guidance during earnings
calls
following the completion of its first and second quarters of 2005.
Webcast and Conference
Call Information
The Company will host a conference call and live webcast at 4:30 p. Separately
, a brief slide presentation will be utilized during the
call and will be available on the "Investor
Relations" section of the
Company's corporate website (http://www. International parties should call
303-590-3000 and
enter pass code 11022489. 128, Earnings Per Share" ("EITF 03-06"). We deduct other
income
(expense), net, consisting primarily of interest income from net income
in calculating
Adjusted EBITDA because we regard interest income to be a
non-operating item.bernard alexander
----Coronado
Industries
, Inc. Contracts for distribution outside of Europe are being
handled by Dr.com), or by clicking on
the following link:
http://www.com); and, HIVPlus
(http://www. Subscription services revenue for
full year 2004 was $16. Subscribers totaled 127,500 at December 31, 2004, a 29 percent
increase compared
to 98,500 subscribers at December 31, 2003. These
factors totaled $640,000 for full year 2004 and
$320,000 for the fourth
quarter of 2004.
These statements are forward-looking, and actual results
may differ
materially.5 million and $6.01) $0.
03-06 "Participating Securities and the Two
Class Method Under FASB
Statement No.alexander military
PlanetOut's presentation is currently scheduled
for 3:20 p.planetoutinc.com/webcast/jeff6/
About PlanetOut Inc.
PlanetOut Inc.com
), as well as other publishing, direct marketing and
e-commerce properties, including Alyson Publications
, SpecPub, Inc.
-- The company recorded increased stock-based compensation charges in 2004
totaling
$2.5
million in the fourth quarter of 2003. The
net loss for full year 2004 was $475,000, compared
to a net loss of $752,000
for full year 2003.01 for the fourth quarter of 2004, compared to
basic
net income of $0.0 percent for the
fourth quarter of 2003.com, allowing visitors to book travel directly
from the company's flagship websites.montgomery bernard
"I have calls from South America, India, China,
Australia
and Canada.hivplusmag.com.
We believe this performance demonstrates the long term value of our business
model.0 million in 2003. Net income for full year and fourth quarter 2004 includes
the impact
of increases in depreciation and amortization and stock-based
compensation charges and non-recurring
items described above under "Income
from Operations".53 per share for full year 2003.
About PlanetOut Inc. Additional
information concerning factors that could affect our future business
and
financial results is included in the Company's Form S-1 and other public
filings with the
Securities and Exchange Commission, available at http://www.
PlanetOut Inc.00 $(0.gay anchor
5 percent to 12.
For parties in the United States and Canada, call 800-218-0530 to access
the earnings call. The webcast will be archived for a period of
45 days.
PlanetOut Inc
.sec.alexander ben
advocate. We also grew
subscriptions steadily and reduced churn despite raising subscription
rates.7 million for full year 2003.2 million for
full year 2003."
Select Recent Operational
Highlights
-- The upcoming launch in major U.com and building brand recognition.
For
full year 2005, PlanetOut expects revenue to be between $32.0
million. The company expects paid subscribers
as of the end of the
first quarter to be between 134,000 and 137,000.com). Such factors include,
among others, the Company's
limited operating history and variability of operating results; the Company
's
ability to attract and retain subscribers and advertisers, competition, and
our dependence on
our technology infrastructure and the Internet.39) $(1.gay lionheart
Coronado Industries' Glaucoma Treatment ``PNT
'' Soon To Be Introduced Into Great Britain; European Update
comOphthalmol. SAN FRANCISCO, PlanetOut
Inc. Representing the company will be Lowell Selvin, chairman and
chief executive officer.
-- Advertising revenue for the fourth quarter of 2004 totaled $2. Income from operations for full
year 2004 was $495,000
compared to a loss of $423,000 for full year 2003.7 million, a 15 percent
increase from Adjusted EBITDA of $1.com premium subscription service through the
launch of a new
personals search engine to improve search results for members,
as well as improved Who's Online search
functionality, allowing members to
search the entire personals data base of Gay.alexander guardian
"
Contracts for
the exclusive distribution of Coronado's device are
being negotiated at this time for France, German
, Greece, Belgium and
the U."
Richard Smith, CEO of Coronado Industries states, "We are very
happy
with the addition of the contract for Poland last week with
Meditherm and remain confident that we
will be able to announce
additional distributorships within the coming weeks. Advertising revenue
for full year 2004 was $6. Adjusted EBITDA for the fourth quarter of
2004 totaled $1.
Earnings Per Share - Basic and diluted net loss per share attributable to
common stockholders was
$0.
-- Enhancement of the Gay.com
subscription services and PlanetOut-branded mobile content
worldwide.
The company expects paid subscribers as of December 31, 2005 to be between
174
,000 and 194,000.
Additionally, PlanetOut Inc.gov. Condensed Statements of Operations
(Unaudited, in thousands, except per share data)
Three Months Twelve Months
Ended Ended
Dec 31, Dec 31, Dec 31, Dec 31,
2004 2003 2004 2003
Revenue:
Subscription
services $4,608 $3,563 $16,775 $12,727
Advertising services
2,127 1,436 6,541 4,626
Transaction services 368 304 1,646
1,746
Total revenue 7,103 5,303 24,962 19,099
Operating costs and expenses:
Cost of revenue 2,006 1,608 8,104
6,696
Sales and marketing 2,572 1,505 8,806 6,554
General
and administrative 1,238 882 5,100 4,242
Depreciation and amortization
784 604 2,457 2,030
Total costs and
expenses
6,600 4,599 24,467 19,522
Income (loss) from operations
503 704 495 (423)
Other income (expense), net (530) (70)
(943) (180)
Income (loss) before income taxes (27) 634 (448) (603)
Provision for income taxes (3) (117) (27) (149)
Net income
(loss) (30) 517 (475) (752)
Accretion on redeemable convertible
preferred stock $(89) (436) (1,402) (1,729)
Net income
available for distribution
(loss) $(119) $81 $(1,877) $(2
,481)
Net income available to common
stockholders (loss) used in basic
earnings
per share (1) $(119) $24 $(1,877) $(2,481)
Net income (loss) per common
share -
basic (2) $(0.01) $0.53)
Weighted average number
of shares
used in computing per share
calculations - diluted 14,035
7,735 4,837 1,624
Adjusted EBITDA (4) $1,695 $1,475 $5,085
$3,204
(1) In April 2004, the Emerging Issues Task Force issued Statement No.
The following table reconciles the calculation of Adjusted EBITDA with
both net income (loss)
and income (loss) from operations for the three and
twelve months ended December 31, 2003 and 2004
(in thousands):
Three Months Twelve Months
Ended Ended
Dec 31, Dec 31, Dec 31, Dec 31,
2004 2003 2004 2003
Net income (loss) $(30)
$517 $(475) $(752)
Provision for income taxes 3 117 27
149
Other income (expense), net 530 70 943 180
Income
(loss) from operations $503 $704 $495 $(423)
Depreciation and amortization
784 604 2,457 2,030
Stock-based compensation 408
167 2,133 1,597
Adjusted EBITDA $1,695 $1,475 $5,085 $3,204
Supplemental Disclosure of Stock-Based Compensation Expenses:
Three Months Twelve Months
Ended Ended
Dec 31, Dec 31
, Dec 31, Dec 31,
2004 2003 2004 2003
Stock-based compensation expense
Cost of revenue $98 $62
$565 $502
Sales and marketing $120 $47 $556 $420
General and administrative $190 $58 $1,013 $676
Total stock-based
compensation 408 167 2,133 1,597
bisexual lionheart
Working overtime to stay the Web's best reference!
-> Show SiteSeek's List of Web Sites For This Topic (Not Yet Peer Reviewed)
Loading...
(Note: These pages use the Atlas Content Safeguard System (ACSS) and require that Javascript is enabled for viewing.)