Welcome!

News Feed Item

LiveWorld Reports Financial Results for the 4th Quarter

LiveWorld, Inc. (OTC Markets: LVWD), today announced the financial results for the quarter ended December 31, 2012. Total revenues were $4.3 million for the quarter as compared to the $2.5 million for the quarter ended December 31, 2011. This was an increase of approximately $1.8 million or 75% period-over-period. The Company’s revenues for full year 2012 were approximately $13.6 million, as compared to $8.3 million for 2011. This was an increase of approximately $5.3 million or 64% year-over-year.

The Company reported net income for the fourth quarter of 2012 of $714,000, or 16% of total revenues. This result was an improvement of $1.1 million when compared to the net loss of $356,000, or 14% of total revenues reported for the quarter ended December 31, 2011. The Company’s net income for the 2012 was approximately $1.8 million, as compared to the net loss of $292,000 for 2011.

The Company ended the quarter with approximately $3.4 million in cash and cash equivalents. The Company reported a positive working capital balance of approximately $2.8 million for the period ended December 31, 2012 as compared to the $1.0 million it had at the end of 2011. The Company currently anticipates a cash burn for the first quarter of 2013, and to be cash neutral for the full fiscal 2013 year.

“Overall 2012 was a positive year for us, as we made tremendous progress across the company,” stated David Houston, Chief Financial Officer of LiveWorld. “As we move forward in 2013 we will continue creating innovative technologies and services to grow and diversify our offerings. We remain committed to investing in all aspects of our business paying particular attention to our sales and marketing efforts in 2013.”

Detailed quarterly financial information may be downloaded at www.liveworld.com (financials page) or at www.otcmarkets.com.

LiveWorld Solutions

LiveWorld, a user content management company, protects the world’s largest brands and provides them with real actionable insights and relationship engagement by using cutting edge technology that scales human management of user content:

  • Social Content Management System (SCMS) Technology Platform: The LiveWorld SCMS aggregates user content across social channels and enables high scale, high quality cost efficient review and management by human moderators and community managers. The SCMS is directly integrated with the Facebook Wall, other Facebook native applications, Twitter, custom applications built for Facebook as well as other social networks and community platforms such as LiveWorld Jive.
  • Protecting Brands With Moderation: The combination of our SCMS platform and services protects brands by reviewing, removing, escalating and responding at a rate of up to 1,000 actions/hr./moderator The SCMS connects to 1 social web page or can integrate thousands of Facebook pages, Twitter pages and community web sites into a common, consistent workflow. Coverage ranges from a few hours/day to 24×7 to thousands of hours/day.
  • Actionable Business Insight: Including tagging of all user content reviewed, metrics reporting and qualitative analysis based on LiveWorld’s unique culture-tone-engagement framework. Enables brands to know what their customers actually think and what to do about it.
  • Engagement for Marketing and Service & Support: For customer engagement and social service & support, including social media strategy with a focus on community cultural models, community programming plans, community management, day-to-day online engagement and social media crisis management.
  • Global: Solutions available in up to 70 country-language combinations.

LiveWorld is a Facebook ® Preferred Marketing Developer (PMD) in the Pages category.

About LiveWorld

LiveWorld, a user content management company, is a trusted partner to the world’s largest brands, including the top companies in retail, CPG, pharmaceutical, and financial/travel services. We revolutionize the management of user content through innovative proprietary technology, leading edge services, and deep integration with client marketing and customer support teams. Scaling human review of user content and human touch points, LiveWorld removes obstacles that brands face, allowing them to engage more deeply in social media. In an innovative approach that encompasses review, management, and analysis of user content, LiveWorld provides 24/7 brand protection through “always on” moderation and engagement across social channels, applications, and sites. The LiveWorld solution offers a competitive advantage through management of user content in sheer volume, resulting in amplified brand presence, and proven to improve social media marketing and increase customer loyalty. LiveWorld is headquartered in California, with offices in San Jose, CA and New York City. For more information, go to www.liveworld.com (OTC Markets: LVWD). Follow us at @LiveWorld

“Safe Harbor" Statement Under The Private Securities Litigation Reform Act

This press release may contain forward-looking information concerning LiveWorld's plans, objectives, future expectations, forecasts and prospects. These statements may include those regarding LiveWorld’s current or future financial performance including but not limited to lists of clients, revenue and profit, use of cash, investments, relationships and the actual or potential impact of stock option expense, and the results of its product development efforts. The balance sheet, operating results, and statements of cash flows for the periods ended December 31, 2011 and 2012 where neither audited nor reviewed by an independent accounting firm and are subject to change upon such a review or audit being completed. Actual results may differ materially from those expressed in the forward looking statements made as a result of, among other things, final accounting adjustments and results, LiveWorld’s ability to attract new clients and preserve or expand its relationship with existing clients, LiveWorld’s ability to retain and attract high quality employees, including its management staff, the ability to deliver new innovative products in a timely manner, changing accounting treatments, and other risks applicable to the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances.

 
LIVEWORLD, INC.
UNAUDITED CONDENSED BALANCE SHEETS
(In thousands, except share data)
   
December 31, December 31,
2012 2011
ASSETS
Current assets
Cash and cash equivalent $ 3,382 $ 1,323
Accounts receivable, net 1,415 857
Prepaid expenses   268     135  
Total current assets 5,065 2,315
 
Property and equipment, net 234 132
Other assets   17     17  
Total assets $ 5,316   $ 2,464  
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable $ 235 $ 12
Accrued employee expenses 504 348
Other accrued liabilities 17 10
Current portion of note payable ---- 15
Deferred revenue   1,478     889  
Total current liabilities   2,234     1,274  
Total liabilities 2,234 1,274
 
Stockholders' equity
Common stock: $0.001 par value, 100,000,000 shares authorized 33,257,634 and 33,157,634 issued and outstanding as of December 31, 2012 and December 31, 2011 respectively 33 33
Additional paid-in capital 141,178 141,094
Accumulated deficit   (138,129 )   (139,938 )
Total stockholders' equity   3,082     1,190  
Total liabilities and stockholders' equity $ 5,316   $ 2,464  
 
 
LIVEWORLD, INC.
UNAUDITED CONDENSED STATEMENT OF OPERATIONS
(In thousands, except per share data)
       
Three Months Ended Twelve Months Ended
December 31, December 31,
2012 2011 2012 2011
Total revenues $ 4,350 $ 2,491 $ 13,557 $ 8,271
Cost of revenues   1,447   832     4,419   2,840  
Gross Margin 2,903 1,659 9,138 5,431
Operating Expense
Product development 556 374 1,898 1,398
Sales and marketing 1,042 534 3,250 2,041
General and administrative 524 362 2,068 1,427
Stock based compensation   23   26     81   114  
Total operating expense   2,145   1,297     7,297   4,979  
Income from operations 758 363 1,841 451
Interest expense, net   ----   ----     ----   (2 )
Other income ---- ---- 12 ----
Income before tax   758   363     1,853   449  
Provision for income taxes/(benefit)   44   ----     44   (5 )
Equity in net loss of unconsolidated affiliate   ----   (719 )   ----   (736 )
Net income / (loss)   714   (356 )   1,809   (292 )
 
Basic income / (loss) per share $ 0.02 $ (0.01 ) $ 0.05 $ (0.01 )
Shares used in computing basic loss per share 33,257,634 33,157,634 33,197,981 33,157,634
Diluted net income / (loss) per share $ 0.02 $ (0.01 ) $ 0.04 $ (0.01 )
Shares used in computing diluted income (loss) per share 44,085,483 33,157,634 42,148,213 33,157,634
 
Departmental allocation of stock-based compensation:
Product development $ 5 $ 11 $ 30 $ 56
Sales and marketing 10 10 29 37
General and administrative   8   5     23   21  
Total stock-based compensation $ 23 $ 26   $ 81 $ 114  
 
 
LIVEWORLD, INC.
UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS
(In thousands)
 
  Three Months Ended   Twelve Months Ended
December 31, December 31,
2012   2011 2012   2011
Cash flows from operating activities:
Net income (loss) $ 714 $ (356 ) $ 1,809 $ (292 )
Adjustments to reconcile net income (loss) provided by (used in) operating activities:
Depreciation of long-lived assets 26 17 87 80
Stock-based compensation 23 26 81 114
Loss on sale of assets
Equity in net loss of unconsolidated affiliate ---- 797 ---- 815
Changes in operating assets and liabilities:
Accounts receivable 992 666 (558 ) (165 )
Other assets (122 ) (9 ) (134 ) (56 )
Accounts payable (11 ) (189 ) 223 (49 )
Accrued liabilities (123 ) (39 ) 163 (1 )
Deferred revenue   (1,612 )   (300 )   588     311  
Net cash provided by (used in) operating activities   (70 )   614     2,260     756  
Cash flows from investing activities:
Purchase of property and equipment   (41 )   (60 )   (189 )   (117 )
Net cash provided by (used in) investing activities   (41 )   (60 )   (189 )   (117 )
Cash flows from financing activities:
Capital lease financing ---- ---- ---- (38 )
Note payable financing   ----     (6 )   ---     (29 )
Net cash provided by (used for) financing activities   ----     (6 )   ----     (67 )
Change in cash and cash equivalent (110 ) 547 2,059 573
Cash and cash equivalents, beginning of period   3,492     776     1,323     750  
Cash and cash equivalents, end of period $ 3,382   $ 1,323   $ 3,382   $ 1,323  

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
"Loom is applying artificial intelligence and machine learning into the entire log analysis process, from start to finish and at the end you will get a human touch,” explained Sabo Taylor Diab, Vice President, Marketing at Loom Systems, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
After more than five years of DevOps, definitions are evolving, boundaries are expanding, ‘unicorns’ are no longer rare, enterprises are on board, and pundits are moving on. Can we now look at an evolution of DevOps? Should we? Is the foundation of DevOps ‘done’, or is there still too much left to do? What is mature, and what is still missing? What does the next 5 years of DevOps look like? In this Power Panel at DevOps Summit, moderated by DevOps Summit Conference Chair Andi Mann, panelists loo...
"Tintri focuses on the Ops side of the DevOps, which basically is pushing more and more of the accessibility of the infrastructure to the developers and trying to get behind the scenes," explained Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
@DevOpsSummit at Cloud Expo taking place Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center, Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is ...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists discussed...
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, highlighted the current challenges of these transformative technologies and shared strategies for preparing your organization for these changes. This “view from the top” outlined the latest trends and developments i...
The current age of digital transformation means that IT organizations must adapt their toolset to cover all digital experiences, beyond just the end users’. Today’s businesses can no longer focus solely on the digital interactions they manage with employees or customers; they must now contend with non-traditional factors. Whether it's the power of brand to make or break a company, the need to monitor across all locations 24/7, or the ability to proactively resolve issues, companies must adapt to...
"We focus on composable infrastructure. Composable infrastructure has been named by companies like Gartner as the evolution of the IT infrastructure where everything is now driven by software," explained Bruno Andrade, CEO and Founder of HTBase, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
For organizations that have amassed large sums of software complexity, taking a microservices approach is the first step toward DevOps and continuous improvement / development. Integrating system-level analysis with microservices makes it easier to change and add functionality to applications at any time without the increase of risk. Before you start big transformation projects or a cloud migration, make sure these changes won’t take down your entire organization.
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
In this presentation, Striim CTO and founder Steve Wilkes will discuss practical strategies for counteracting fraud and cyberattacks by leveraging real-time streaming analytics. In his session at @ThingsExpo, Steve Wilkes, Founder and Chief Technology Officer at Striim, will provide a detailed look into leveraging streaming data management to correlate events in real time, and identify potential breaches across IoT and non-IoT systems throughout the enterprise. Strategies for processing massive ...