Mediabistro reports lower Q4 and full year revenue, but trims losses
The Internet media company Mediabistro reported Q4 and full year earnings this morning. Revenue for Q4 was $3.028 million, down 8.8 percent from the same quarter in 2012. For the full year, the company reported revenue down 10.6 percent.
Mediabistro was able to trim losses compared to 2012, however, as its impairment costs were less in 2013 than in 2012. Mediabistro reported an operating loss for 2013 of $5.7 million, versus $8.7 million in 2012. Without the downward revaluation of fixed assets, Mediabistro had an operating loss of about $2.398 million in 2013, versus a loss of $2.590 million in 2012.
“Our financial results for the fourth quarter included the second iteration of our Inside Bitcoins trade show, held in December in Las Vegas. This trade show was financially successful,” lan M. Meckler, Chairman and CEO of Mediabistro Inc. said in the earnings statement. “While recent events have highlighted the risks of this early-stage market, we remain excited about the long-term growth possibilities of this brand along with our Inside 3D Printing Conference and Expo trade show brand.”
“We also most recently held our first German Inside Bitcoins and Inside 3D Printing Conference and Expo in Berlin during the first quarter of 2014 and we have scheduled inaugural Inside 3D Printing and Inside Bitcoin events throughout the world in 2014, including Brazil, Hong Kong, Australia, Italy, Israel and China, among others. In addition, our second annual New York City Inside 3D Printing Conference and Expo and Inside Bitcoins trade shows will be held in April and there has been significant interest in these events,” said Meckler.