Business
LiveWorld Announces Q1 2005 Results: $2.2 Million Revenue, 131% Revenue Growth, Substantial Growth in Profit Margins
LiveWorld Announces Q1 2005 Results: $2.2 Million Revenue, 131% Revenue Growth, Substantial Growth in Profit Margins.
About this update from Liveworld, Inc.
[{"type":"text","content":"Full-service online community agency invests in foundation and growth.\r\n\r\nLos Gatos, Calif., April 19, 2005 - LiveWorld, Inc. (Pinksheets: LVWD.PK) today announced its Q1 2005 financial results, including doubling revenue and significantly increasing both ordinary and net income.\r\n\r\nRevenue: Revenues for Q1 2005 were $2,235,207, representing 131% growth over Q1 2004 revenues of $968,216, and 42% growth over Q4 2004 revenues of $1,572,219. \r\n\r\nOrdinary Income: Q1 2005 ordinary income was $249,763, or a $0.0094 EPS, representing 530% growth over Q1 2004 ordinary income of $39,663, or a $0.0015 EPS. Q1 2005 Ordinary Income grew 76% over Q4 2004 Ordinary Income of $141,717.\r\n\r\nNet Income: During Q1, 2005 the Company settled a lawsuit in which it sought to collect past money owed to it. The net impact of this lawsuit favorably affected financial results such that Other Income was $226,718. This in turn brought the Company's Net Income to $476,481, or a $0.0179 EPS, representing 390% growth over Q1, 2004 Net Income of $97,293, or $0.0037. Q1 2005 Net Income grew 188% over Q4 2004 Net Income of $165,567. (EPS calculations are based on current outstanding shares of 26,584,707, which do not include stock options.)\r\n\r\n\"We have achieved substantial revenue momentum and profit growth,\" said Peter Friedman, Chairman & CEO of LiveWorld. \"We will continue our strategy of investing in the foundation of the business, future growth, and our leadership position.\"\r\n\r\nOn February 8, 2005, the Company announced bookings for 2005 revenue of over $7 Million, representing 34% growth over 2004. (See Feb. 8, 2005 Press Release.) The Company stated today it expects additional revenue growth for the year. Further, based on current forecasts and its strategy to invest profit margins in foundation and growth, the Company currently expects Ordinary Income for Year 2005 to grow approximately 50%-75% compared to Year 2004, and Net Income for Year 2005 to grow approximately 75%-125% compared to year 2004. (As described above, Net Income for Q1 2005 was favorably impacted by a one-time legal settlement event.). Actual results could vary widely due to many business factors. (See safe harbor statement below.)\r\n\r\nThe company's cash position at end of Q1 2005 was just over $1,100,000.\r\n\r\nAbout LiveWorld, Inc.\r\nLiveWorld (Pinksheet...