Delivers EBITDA Profitability in the Fourth Quarter NEW YORK, March
9 /PRNewswire-FirstCall/ -- NetRatings, Inc. (NASDAQ:NTRT), a
global leader in Internet media and market research, today
announced financial results for the fourth quarter and year-ended
Dec. 31, 2005. Revenues for the fourth quarter of 2005 were $17.7
million, an 11 percent increase compared to revenues of $15.9
million for the fourth quarter of 2004. Revenues for the year-ended
Dec. 31, 2005 were $68 million, up 15 percent compared to revenues
of $59.3 million in 2004. During the fourth quarter of 2005,
NetRatings reported a net loss of ($713,000), or ($0.02) per share,
on approximately 36 million shares, compared with a net loss of
($2.3) million, or ($0.07) per share, on approximately 35.3 million
shares, in the fourth quarter of 2004. For 2005, the company
reported a net loss of ($8.4) million, or ($0.23) per share, on
approximately 36 million shares, compared with a net loss of
($17.4) million, or ($0.50) per share, on approximately 34.6
million shares in 2004. For the fourth quarter of 2005, on an
EBITDA basis (a non-GAAP measure that reflects net income/loss
excluding interest income/expense, taxes, depreciation, and
amortization of intangibles and stock-based compensation),
NetRatings reported its first quarter of profitability, earning
$779,000, or $0.02 per share, compared to an EBITDA loss in the
fourth quarter of 2004 of ($948,000), or ($0.03) per share. During
2005, NetRatings decreased its pro forma EBITDA loss, which
excludes a one-time restructuring charge recorded during the third
quarter of 2005, to ($1.2 million), or ($0.03) per share, versus a
loss of ($8.5) million or ($0.25) per share in 2004. A complete
reconciliation of GAAP results to EBITDA and pro forma EBITDA
results may be found in the accompanying financial tables and
footnote. "We are pleased to have delivered on our fourth quarter
objectives, and to report, for the first time, EBITDA
profitability," said William Pulver, president and CEO, NetRatings.
"Since our inception, we have balanced strategic and prudent
investments with our goal of profitability, to position NetRatings
for a strong future. Today -- as we look toward a full year of
EBITDA profitability in 2006 -- our assets include a comprehensive
Internet media and market research product portfolio based on
patented technologies, a client base of more than 1,600 companies,
and a globally recognized brand that stands for quality and
innovation. As Internet advertising grows and the digital media
landscape continues to evolve, we look forward to providing
relevant Nielsen//NetRatings products and services to meet the
needs of the industry." Patent Enforcement Update In early 2005,
NetRatings commenced a patent enforcement program to protect the
company's investments in its patented technologies related to the
collection, analysis and reporting of computer usage and activity.
Under the program, NetRatings filed patent infringement lawsuits
against six companies, and, to date, has signed licensing
agreements with three of these companies: Visual Sciences LLC,
SageMetrics, Corp., and Omniture, Inc. Pulver commented, "We are
delighted with the early success of this program, confident in the
strength of our patents, and optimistic about our opportunity to
add additional licensees to the program." Stock Repurchase Program
Update In November 2005, NetRatings' board of directors authorized
the repurchase of up to $25 million of the company's common stock.
Under the plan, NetRatings spent $13.5 million to repurchase one
million shares in the fourth quarter of 2005, and an additional
$11.5 million to purchase 900,000 shares in 2006. The company ended
the year with $180 million in cash and marketable securities,
compared to $194 million at the end of the third quarter of 2005.
Guidance For the first quarter ending March 31, 2006, NetRatings is
projecting the following: -- Revenue is expected to be between
$17.6 million and $18 million -- Net loss per share on a GAAP basis
is expected to be between ($0.03) and ($0.05) -- EBITDA per share
is expected to be between $0.00 and $0.02 For the full year 2006,
NetRatings is projecting the following: -- Revenue is expected to
be between $75 million and $78 million -- Net loss per share on a
GAAP basis is expected to be between ($0.07) and ($0.13) -- EBITDA
per share is expected to be between $0.09 and $0.15 Fourth
Quarter/Year-End 2005 Conference Call Today at 4:30 p.m. ET,
NetRatings management will host a conference call and Webcast to
discuss its fourth quarter and FY 2005 results and 2006 business
outlook. The company welcomes all members of the financial and
media communities to visit the "Investor Relations" area of
http://www.netratings.com/ to listen to the conference call via
live Webcast. About NetRatings NetRatings, Inc. delivers leading
Internet media and market research solutions, marketed globally
under the Nielsen//NetRatings brand. With high quality,
technology-driven products and services, Nielsen//NetRatings is the
global standard for Internet audience measurement and premier
source for online advertising intelligence, enabling clients to
make informed business decisions regarding their Internet and
digital strategies. The Nielsen//NetRatings portfolio includes
panel-based and site-centric Internet audience measurement
services, online advertising intelligence, user lifestyle and
demographic data, e-commerce and transaction metrics, and custom
data, research and analysis. For more information, please visit
http://www.nielsen-netratings.com/. Safe Harbor Statement This
press release contains statements that may constitute
forward-looking statements pursuant to the safe harbor provisions
of the Private Litigation Reform Act of 1995. These forward-looking
statements are based on current expectations and assumptions and
involve a number of uncertainties and risks that could cause actual
results to differ materially from those currently expressed in any
such forward-looking statements. Information about potential
factors that may affect NetRatings' business and financial results
is included in its annual report on Form 10-K for the fiscal year
ended Dec. 31, 2004 and its quarterly reports on Form 10-Q,
including, without limitation, under the captions "Management's
Discussion and Analysis of Financial Condition and Results of
Operations" and "Risk Factors That May Affect Our Performance."
Each of these documents is on file with the SEC and is available
free of charge. Readers of this press release are referred to such
filings. The forward-looking statements herein speak only as of the
date of this press release. NetRatings does not undertake to update
any forward-looking statement that may be made from time to time by
it or on behalf of NetRatings. NetRatings, Inc. Statements of
Operations (in thousands, except per share data) Three Months Ended
Twelve Months Ended December 31, December 31, 2005 2004 2005 2004
unaudited unaudited Revenue $17,683 $15,932 $68,017 $59,294 Cost of
revenue 5,547 5,467 22,651 23,057 Gross profit 12,136 10,465 45,366
36,237 Operating expenses: Research and development 2,732 2,624
11,580 12,029 Sales and marketing 6,391 5,687 25,718 22,801 General
and administrative 3,027 3,676 12,130 12,588 Restructuring expenses
-- -- 1,700 (525) Litigation settlement recovery -- -- -- (1,800)
Amortization of intangibles 594 781 2,761 3,742 Amortization of
stock- based compensation 1,046 759 3,377 7,587 Total operating
expenses 13,790 13,527 57,266 56,422 Loss from operations: (1,654)
(3,062) (11,900) (20,185) Equity in earnings of joint ventures --
48 56 129 Interest income, net 1,453 776 4,519 2,879 Minority
interest in gains of consolidated subsidiaries (192) (73) (750)
(242) Net loss before provision for income taxes (393) (2,311)
(8,075) (17,419) Provision for income taxes (320) -- (320) -- Net
loss $(713) $(2,311) $(8,395) $(17,419) Basic and diluted net loss
per common share $(0.02) $(0.07) $(0.23) $(0.50) Shares used to
compute basic and diluted net loss and pro forma EBITDA net
income/(loss) per common share 35,989 35,307 35,985 34,637 Pro
Forma EBITDA (1) unaudited Net loss $(713) $(2,311) $(8,395)
$(17,419) Less: Interest income, net (1,453) (776) (4,519) (2,879)
Provision for income taxes 320 -- 320 -- Restructuring expenses --
-- 1,700 (525) Litigation settlement recovery -- -- -- (1,800)
Depreciation 985 599 3,565 2,763 Amortization of intangibles 594
781 2,761 3,742 Amortization of stock-based compensation 1,046 759
3,377 7,587 Pro Forma EBITDA $779 $(948) $(1,191) $(8,531) Pro
Forma EBITDA income/(loss) per common share $ 0.02 $(0.03) $(0.03)
$(0.25) (1) Pro Forma EBITDA reflects net income/loss excluding
interest income/expense, taxes, depreciation, restructuring
expenses, litigation settlement recovery, amortization of
intangibles and stock-based compensation. Management uses this
measure internally to evaluate the company's performance.
NetRatings provides results, guidance and associated reconciliation
of this non-GAAP measure to the investment community, as we believe
it provides consistent and comparable measures to help investors
understand our current and future operating cash flow performance.
Interest income/expense is excluded as it is not related to our
operating performance. Depreciation expenses and amortization of
stock-based compensation are excluded as they are non-cash charges.
NetRatings excludes restructuring expenses and litigation
settlement recoveries as they are one-time items not directly
related to operations. NetRatings excludes amortization of
intangibles as it is a non- cash charge not directly related to
operations. Pro Forma EBITDA data is provided as a complement to
results provided in accordance with GAAP, and should be considered
in addition to, and not as a substitute for or superior to, other
measures of financial performance prepared in accordance with GAAP.
Reconciliation of net loss per share to EBITDA per share for first
quarter and full year 2006 guidance. Three months ending Year
ending Mar. 31, 2006 Dec. 31, 2006 Net loss $(0.05) $(0.03) $(0.13)
$(0.07) Adjustments Interest income, net (0.03) (0.03) (0.13)
(0.13) Provision for income taxes 0.01 0.01 0.03 0.03 Depreciation
0.02 0.02 0.12 0.12 Amortization of intangibles 0.02 0.02 0.07 0.07
Amortization of stock-based compensation 0.03 0.03 0.13 0.13 EBITDA
income per share guidance range $0.00 $0.02 $0.09 $0.15 NetRatings,
Inc. Balance Sheets (in thousands) December 31, December 31, 2005
2004 ASSETS unaudited Current assets Cash, cash equivalents &
marketable securities $151,671 $146,195 Accounts receivable 16,537
13,679 Other current assets 3,867 4,276 Total current assets
172,075 164,150 Long-term marketable securities 28,581 51,407
Property and equipment 7,827 5,977 Intangibles 13,278 16,039
Goodwill 76,856 74,897 Other assets 1,637 1,987 Total assets
$300,254 $314,457 LIABILITIES AND STOCKHOLDERS' EQUITY Current
liabilities Accounts payable & accrued expenses $21,436 $20,612
Deferred revenue 12,666 11,435 Restructuring liabilities 1,038 625
Total current liabilities 35,140 32,672 Restructuring liabilities,
less current portion 418 799 Total liabilities 35,558 33,471
Minority interest 1,298 548 Stockholders' equity 263,398 280,438
Total liabilities and stockholders' equity $300,254 $314,457
Contact: Susan Hickey NetRatings, Inc. 212-703-5909 DATASOURCE:
NetRatings, Inc. CONTACT: Susan Hickey of NetRatings, Inc.,
+1-212-703-5909, or Web site: http://www.netratings.com/
Copyright
Netratings (NASDAQ:NTRT)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Netratings (NASDAQ:NTRT)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024