Exellent Financials of Local Corp and a market-cap for such numbers of only 36 million is a big joke
Exellent Financials of Local Corp
• Ended FY-13 with $5.1M in total cash
• Reached FY-13 revenue of $94.4M and Adjusted EBITDA of $4.5M
• Finished Q4 with $1.4M of Adjusted EBITDA
• 2014 guidance: Revenue between $103M and $107M, and Adjusted EBITDA between $3M and $4M Less
Without the building of a Less LEC reserve (1,721), we have a GAAP-net-income, too - not only an positive EBITDA of 1.4 million
SUMMARY RESULTS
(in thousands, except per share amounts)
Q4 2013 Q3 2013 Q4 2012
Consumer Properties:
Owned & Operated $ 10,701 $ 8,932 $ 12,940
Network 16,104 14,540 7,636
Revenue $26,805 $ 23,472 $20,576
Adjusted EBITDA* $ 1,353 $ 1,320 $ (771)
Plus interest and other income (expense), net (522) (537) (100)
Less (provision for) benefit from income taxes (18) 109 9
Less non-cash depreciation, amortization and stock compensation (1,552) (1,514) (2,132)
Plus (less) revaluation of derivatives 871 (413) 30
Less net loss from discontinued operations (90) (154) (3,469)
Less LEC reserve (1,721) — (1,407)
Less severance charges — (5) (51)
Less settlement accrual — (550) —
GAAP net income (loss) $ (1,679) $ (1,744) $ (7,891) Less
Local Corp could activate the costs in the balance sheet, for example for the further development of Krillion, but waive to activate. But on the other side, bought asset was written down.
The results are a lot of hidden reserves
Exellent Financials of Local Corp
• Ended FY-13 with $5.1M in total cash
• Reached FY-13 revenue of $94.4M and Adjusted EBITDA of $4.5M
• Finished Q4 with $1.4M of Adjusted EBITDA
• 2014 guidance: Revenue between $103M and $107M, and Adjusted EBITDA between $3M and $4M Less
Without the building of a Less LEC reserve (1,721), we have a GAAP-net-income, too - not only an positive EBITDA of 1.4 million
SUMMARY RESULTS
(in thousands, except per share amounts)
Q4 2013 Q3 2013 Q4 2012
Consumer Properties:
Owned & Operated $ 10,701 $ 8,932 $ 12,940
Network 16,104 14,540 7,636
Revenue $26,805 $ 23,472 $20,576
Adjusted EBITDA* $ 1,353 $ 1,320 $ (771)
Plus interest and other income (expense), net (522) (537) (100)
Less (provision for) benefit from income taxes (18) 109 9
Less non-cash depreciation, amortization and stock compensation (1,552) (1,514) (2,132)
Plus (less) revaluation of derivatives 871 (413) 30
Less net loss from discontinued operations (90) (154) (3,469)
Less LEC reserve (1,721) — (1,407)
Less severance charges — (5) (51)
Less settlement accrual — (550) —
GAAP net income (loss) $ (1,679) $ (1,744) $ (7,891) Less
Local Corp could activate the costs in the balance sheet, for example for the further development of Krillion, but waive to activate. But on the other side, bought asset was written down.
The results are a lot of hidden reserves