MediaBistro reports higher revenues, cuts into losses
NEW YORK, NY – May 6, 2014 — Mediabistro Inc. today reported results for the quarter ended March 31, 2014.
Highlights for the first quarter of 2014 include:
- Revenues for the first quarter of 2014 were $3.2 million compared to revenues of $2.5 million for the same period in 2013.
- Net loss for the first quarter of 2014 was $746,000, compared to a net loss of $924,000 for the same period in 2013. Non-GAAP loss, excluding interest, taxes, depreciation, amortization and stock-based compensation expense, or EBITDA, was $417,000 during the first quarter of 2014 compared to EBITDA loss of $595,000 for the same period in 2013. We track the EBITDA metric and present it here because we believe it helps in the analysis of the performance of our core operations. However, non-GAAP metrics should not be considered as replacements for their closest GAAP counterparts, and you should be aware that different companies might calculate similarly titled metrics in a different way. Non-cash stock-based compensation expense was $55,000 during the first quarter of 2014 compared to $81,000 during the same period last year.
“Our financial results for the first quarter included our Inside Bitcoin trade show, held in February in Berlin, Germany. This trade show was financially successful. 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,” stated Alan M. Meckler, Chairman and CEO of Mediabistro Inc. “We also most recently held our Inside 3D Printing Conference and Inside Bitcoin trade shows in New York during the second quarter of 2014 and we have scheduled inaugural Inside 3D Printing and Inside Bitcoin events throughout the world in 2014, including Hong Kong, Australia, Italy, Israel and South Korea, among others.”