Business
LiveWorld Reports $2.5 Million Revenue, 70% Year-Over-Year Growth in Third Quarter 2005
LiveWorld Reports $2.5 Million Revenue, 70% Year-Over-Year Growth in Third Quarter 2005.
About this update from Liveworld, Inc.
[{"type":"text","content":"Los Gatos, Calif., November 9, 2005 - LiveWorld, Inc. (LVWD.PK), a leading online community agency, today reported 70% year-over-year revenue growth for the third quarter ended September 30, 2005. \r\n\r\nRevenue: Revenues for the third quarter 2005 were $2,513,187, representing 70% year-over-year growth compared to third quarter 2004 revenues of $1,477,422 and 3% sequential growth over second quarter 2005 revenues of $2,431,298.\r\n\r\nOrdinary Income: Third quarter 2005 ordinary income was $209,557, or a $0.0079 EPS, representing 1,086% growth over third quarter 2004 ordinary income of $17,666, or a $0.0007 EPS. Third quarter 2005 ordinary income was 44% lower than second quarter 2005 ordinary income of $373,791. \r\n\r\nNet Income: Net income for the third quarter 2005 was $221,878, or $0.0083 EPS, representing 969% growth over third quarter 2004 net income of $20,757, or $0.0008 EPS. Third quarter 2005 net income was 42% lower than second quarter 2005 net income of $381,359. \r\n\r\nIncome in the second half of the year is projected to be lower than the first half due to the Company's previously stated strategy of investing in new product development and due to a one time favorable legal settlement in Q1 2005 (see April 19, 2005 press release). The company's cash position at end of the third quarter 2005 was $1,203,225.\r\n\r\n\"Third quarter revenue was driven by the increasing demand for online community services and continuing acceptance of LiveWorld's extensive offerings by leading brands,\" said Peter Friedman, Chairman and CEO. \"We continue to execute on our strategy of growing revenue and maintaining profitability while investing significantly in new product development.\" \r\n\r\nBusiness Outlook: The Company stated that it currently has more than $9.25 million in revenue bookings for 2005, representing 77% growth over 2004 total revenue of $5.2 million. Due to seasonality aspects of select clients, LiveWorld's fourth quarter revenue is historically lower or in line with third quarter revenue. \r\n\r\nA detailed quarterly financial history for LiveWorld is available at http://www.liveworld.com/company/financials.html\r\n\r\n* The above income results do not include impact of stock option expensing. Such expensing would be a non-cash impact. See the above referenced financial history for more detail.\r\n\r\nAbout Liv...