|By Business Wire||
|March 21, 2013 08:02 AM EDT||
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.”
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, 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.
|UNAUDITED CONDENSED BALANCE SHEETS|
|(In thousands, except share data)|
|December 31,||December 31,|
|Cash and cash equivalent||$||3,382||$||1,323|
|Accounts receivable, net||1,415||857|
|Total current assets||5,065||2,315|
|Property and equipment, net||234||132|
|LIABILITIES AND STOCKHOLDERS' EQUITY|
|Accrued employee expenses||504||348|
|Other accrued liabilities||17||10|
|Current portion of note payable||----||15|
|Total current liabilities||2,234||1,274|
|Common stock: $0.001 par value, 100,000,000 shares authorized 33,257,634 and 33,157,634 issued and outstanding as of December 31, 2012 and December 31, 2011 respectively||33||33|
|Additional paid-in capital||141,178||141,094|
|Total stockholders' equity||3,082||1,190|
|Total liabilities and stockholders' equity||$||5,316||$||2,464|
|UNAUDITED CONDENSED STATEMENT OF OPERATIONS|
|(In thousands, except per share data)|
|Three Months Ended||Twelve Months Ended|
|December 31,||December 31,|
|Cost of revenues||1,447||832||4,419||2,840|
|Sales and marketing||1,042||534||3,250||2,041|
|General and administrative||524||362||2,068||1,427|
|Stock based compensation||23||26||81||114|
|Total operating expense||2,145||1,297||7,297||4,979|
|Income from operations||758||363||1,841||451|
|Interest expense, net||----||----||----||(2||)|
|Income before tax||758||363||1,853||449|
|Provision for income taxes/(benefit)||44||----||44||(5||)|
|Equity in net loss of unconsolidated affiliate||----||(719||)||----||(736||)|
|Net income / (loss)||714||(356||)||1,809||(292||)|
|Basic income / (loss) per share||$||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||$||(0.01||)|
|Shares used in computing diluted income (loss) per share||44,085,483||33,157,634||42,148,213||33,157,634|
|Departmental allocation of stock-based compensation:|
|Sales and marketing||10||10||29||37|
|General and administrative||8||5||23||21|
|Total stock-based compensation||$||23||$||26||$||81||$||114|
|UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS|
|Three Months Ended||Twelve Months Ended|
|December 31,||December 31,|
|Cash flows from operating activities:|
|Net income (loss)||$||714||$||(356||)||$||1,809||$||(292||)|
|Adjustments to reconcile net income (loss) provided by (used in) operating activities:|
|Depreciation of long-lived assets||26||17||87||80|
|Loss on sale of assets|
|Equity in net loss of unconsolidated affiliate||----||797||----||815|
|Changes in operating assets and liabilities:|
|Net cash provided by (used in) operating activities||(70||)||614||2,260||756|
|Cash flows from investing activities:|
|Purchase of property and equipment||(41||)||(60||)||(189||)||(117||)|
|Net cash provided by (used in) investing activities||(41||)||(60||)||(189||)||(117||)|
|Cash flows from financing activities:|
|Capital lease financing||----||----||----||(38||)|
|Note payable financing||----||(6||)||---||(29||)|
|Net cash provided by (used for) financing activities||----||(6||)||----||(67||)|
|Change in cash and cash equivalent||(110||)||547||2,059||573|
|Cash and cash equivalents, beginning of period||3,492||776||1,323||750|
|Cash and cash equivalents, end of period||$||3,382||$||1,323||$||3,382||$||1,323|
WebRTC adoption has generated a wave of creative uses of communications and collaboration through websites, sales apps, customer care and business applications. As WebRTC has become more mainstream it has evolved to use cases beyond the original peer-to-peer case, which has led to a repeating requirement for interoperability with existing infrastructures. In his session at @ThingsExpo, Graham Holt, Executive Vice President of Daitan Group, will cover implementation examples that have enabled ea...
Oct. 26, 2016 07:00 PM EDT Reads: 2,339
SYS-CON Events announced today that Coalfire will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Coalfire is the trusted leader in cybersecurity risk management and compliance services. Coalfire integrates advisory and technical assessments and recommendations to the corporate directors, executives, boards, and IT organizations for global brands and organizations in the technology, cloud, health...
Oct. 26, 2016 06:30 PM EDT Reads: 1,656
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 26, 2016 06:30 PM EDT Reads: 1,081
November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Penta Security is a leading vendor for data security solutions, including its encryption solution, D’Amo. By using FPE technology, D’Amo allows for the implementation of encryption technology to sensitive data fields without modification to schema in the database environment. With businesses having their data become increasingly more complicated in their mission-critical applications (such as ERP, CRM, HRM), continued ...
Oct. 26, 2016 06:15 PM EDT Reads: 1,143
In his session at 19th Cloud Expo, Claude Remillard, Principal Program Manager in Developer Division at Microsoft, will contrast how his team used config as code and immutable patterns for continuous delivery of microservices and apps to the cloud. He will show the immutable patterns helps developers do away with most of the complexity of config as code-enabling scenarios such as rollback, zero downtime upgrades with far greater simplicity. He will also have live demos of building immutable pipe...
Oct. 26, 2016 05:45 PM EDT Reads: 1,657
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
Oct. 26, 2016 05:30 PM EDT Reads: 1,510
SYS-CON Events announced today that Cloudbric, a leading website security provider, will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Cloudbric is an elite full service website protection solution specifically designed for IT novices, entrepreneurs, and small and medium businesses. First launched in 2015, Cloudbric is based on the enterprise level Web Application Firewall by Penta Security Sys...
Oct. 26, 2016 05:15 PM EDT Reads: 1,266
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Oct. 26, 2016 05:00 PM EDT Reads: 9,060
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Oct. 26, 2016 05:00 PM EDT Reads: 4,205
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, you'll learn about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how Docke...
Oct. 26, 2016 04:30 PM EDT Reads: 1,670
Enterprises have been using both Big Data and virtualization for years. Until recently, however, most enterprises have not combined the two. Big Data's demands for higher levels of performance, the ability to control quality-of-service (QoS), and the ability to adhere to SLAs have kept it on bare metal, apart from the modern data center cloud. With recent technology innovations, we've seen the advantages of bare metal erode to such a degree that the enhanced flexibility and reduced costs that ...
Oct. 26, 2016 04:15 PM EDT Reads: 371
In his general session at 18th Cloud Expo, Lee Atchison, Principal Cloud Architect and Advocate at New Relic, discussed cloud as a ‘better data center’ and how it adds new capacity (faster) and improves application availability (redundancy). The cloud is a ‘Dynamic Tool for Dynamic Apps’ and resource allocation is an integral part of your application architecture, so use only the resources you need and allocate /de-allocate resources on the fly.
Oct. 26, 2016 04:00 PM EDT Reads: 3,828
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain. In this power panel at @...
Oct. 26, 2016 04:00 PM EDT Reads: 2,120
Governments around the world are adopting Safe Harbor privacy provisions to protect customer data from leaving sovereign territories. Increasingly, global companies are required to create new instances of their server clusters in multiple countries to keep abreast of these new Safe Harbor laws. Is it worth it? In his session at 19th Cloud Expo, Adam Rogers, Managing Director of Anexia, Inc., will discuss how to keep your data legal and still stay in business.
Oct. 26, 2016 03:45 PM EDT Reads: 1,511
SYS-CON Events announced today that SoftNet Solutions will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. SoftNet Solutions specializes in Enterprise Solutions for Hadoop and Big Data. It offers customers the most open, robust, and value-conscious portfolio of solutions, services, and tools for the shortest route to success with Big Data. The unique differentiator is the ability to architect and ...
Oct. 26, 2016 03:30 PM EDT Reads: 1,083