WebMediaBrands Inc. Reports Results For Its Second Quarter Ended June 30, 2010; Revenues Increase 72%
(Norwalk, CT - August 11, 2010) -- WebMediaBrands Inc. (Nasdaq: WEBM) today reported results for the quarter ended June 30, 2010.
Revenues for the second quarter of 2010 were $2.5 million compared to revenues of $1.4 million for the same period in 2009, an increase of 72%. Revenues from online advertising sales and job board operations were up 171% and 110%, respectively, compared to the same period last year and were up 27% and 15%, respectively, compared to the first quarter of 2010. Operating expenses for the second quarter of 2010 were $3.4 million compared to $3.9 million for the same period last year. Loss from continuing operations was $945,000 during the second quarter of 2010 compared to $2.1 million during the same period in 2009.
"Our second quarter demonstrated significant year-over-year and sequential quarterly growth in revenues and reductions in operating expenses," stated Alan M. Meckler, Chairman and CEO of WebMediaBrands. "We are excited by the success of our trade shows that ran during the second quarter and that covered a variety of social media topics. We continue to develop blogs dealing with social media, social networks, virtual goods and social gaming as well as traditional media topics. We expect these investments should continue to show positive results in future quarters," added Meckler.
In November 2009, WebMediaBrands completed the sale of the assets related to its Internet.com business to QuinStreet, Inc. Prior year financial results have been presented to include WebMediaBrands’s Internet.com business as a discontinued operation for the periods presented.
In February 2009, WebMediaBrands completed the sale of its online images business to Getty Images, Inc. Prior year financial results have been presented to reflect WebMediaBrands’s online images segment as a discontinued operation for the periods presented.
WebMediaBrands Inc. 2nd Quarter 2010 Financial Results Conference Call Alert
WebMediaBrands Inc. invites you to participate in its conference call reviewing 2010 second quarter results on Wednesday, August 11, 2010 at 5:00 pm EDT.
The conference call number is 866-288-9872 for domestic participants and 913-312-2900 for international participants; confirmation code "713481." Please call five minutes in advance to ensure that you are connected prior to the presentation. The conference call replay will be available until Sunday, August 15, 2010. Replay call numbers are 888-348-4629 for domestic participants and 913-312-2900 for international participants; confirmation code "713481."
About WebMediaBrands Inc.
WebMediaBrands Inc. (Nasdaq: WEBM, www.webmediabrands.com), is an Internet media company that provides content, education, trade shows and online job board services to media and business professionals.
All current WebMediaBrands press releases can be found online at www.webmediabrands.com/corporate/press.html
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