|By Business Wire||
|June 26, 2014 05:10 PM EDT||
LiveWorld, Inc. (OTC Markets: LVWD), today announced the financial results for the first quarter of 2014. Total revenues were approximately $3.3 million for the first quarter as compared to the approximately $3.9 million in total revenues reported for 2013.
The Company reported a net loss for the quarter of approximately $307,000, or 9% of total revenues. This compares to net income of approximately $285,000, or 7% of total revenues, reported for the first quarter of 2013. The earnings / (loss) per share on a fully diluted basis were $(0.01) and $0.01 for the first quarters of 2014 and 2013, respectively.
The company finished the first quarter with approximately $4.3 million in cash and cash equivalents as compared to the approximately $2.5 million at the end of the first quarter in 2013. The Company reported a positive working capital balance of approximately $3.6 million as of March 31, 2014 as compared to the approximately $3.8 million as of March 31, 2013.
“Our first quarter results are consistent with our 2014 projections, in particular continuing to transition the business from our legacy revenue in web sites to the general social web and making deeper investments in product development and expansion of sales and marketing.” said David Houston, Chief Financial Officer of LiveWorld. “We are investing in our future, and developing new revenue streams will help diversify and grow our client base.”
LiveWorld is a social content marketing company. Through a combination of software and services we provide strategy, engagement, moderation, and insight to help brands develop deeper relationships with customers. We bring a human touch scaled by technology that creates value out of user content and provides big cost savings. By providing software and services, LiveWorld delivers a full range of social media solutions to improve relationship marketing, customer support, and market learning. Fortune 500 brands use our solutions to engage their clients in a way that’s social, personal, and direct, yet affordable and sustainable on a large scale. Our proprietary technology empowers people to moderate and respond to user comments at scale and to analyze data in context with human intelligence and sensitivity. LiveWorld is a trusted partner of the world’s largest brands, including the number-one companies in retail, CPG, pharmaceutical, and financial/travel services. For our clients, we develop strategy, create and publish content, engage customers, moderate content, manage crises, and glean insight from social media. LiveWorld is headquartered in California, with offices in New York City and San Jose. Learn more at www.liveworld.com and @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. 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.
|March 31,||December 31,|
|Cash and cash equivalents||$||4,317||$||4,413|
|Total current assets||5,018||5,237|
|Property and equipment, net||239||257|
|LIABILITIES AND STOCKHOLDERS' EQUITY|
|Accrued employee expenses||596||576|
|Other accrued liabilities||59||6|
|Total current liabilities||1,413||1,406|
Common stock: $0.001 par value, 100,000,000 shares authorized 33,321,634 issued and outstanding as of March 31, 2014 and December 31, 2013,
|Additional paid-in capital||141,510||141,448|
|Total stockholders' equity||3,861||4,106|
|Total liabilities and stockholders' equity||$||5,274||$||5,512|
|STATEMENTS OF OPERATIONS|
|(In thousands, except per share data)|
Three Months Ended
|Cost of revenues||1,411||1,362|
|Sales and marketing||548||498|
|General and administrative||748||702|
|Total operating expenses||2,196||2,221|
|Income / (loss) before tax||(296||)||291|
|Provision for income taxes||11||6|
|Net income/ (loss)||(307||)||285|
|Basic net income/ (loss) per share||$||(0.01||)||$||0.01|
|Shares used in computing basic income/ (loss) per share||33,321,634||33,257,634|
|Diluted income/ (loss) per share||$||(0.01||)||$||0.01|
|Shares used in computing diluted income/ (loss) per share||33,321,634||41,707,087|
|Departmental allocation of stock-based compensation:|
|Cost of revenues||$||11||$||8|
|Sales and marketing||12||5|
|General and administrative||20||8|
|Total stock-based compensation||$||62||$||33|
|STATEMENTS OF CASH FLOWS|
|Three Months Ended|
|Cash flows from operating activities:|
|Adjustments to reconcile net income to net cash provided by operating activities:|
|Changes in operating assets and liabilities:|
|Accrued employee expenses and other liabilities||73||154|
|Net cash provided by operating activities||(75||)||(858||)|
|Cash flows from investing activities:|
|Purchases of property and equipment||(21||)||(21||)|
|Net cash used in investing activities||(21||)||(21||)|
|Change in cash and cash equivalents||(96||)||(879||)|
|Cash and cash equivalents, beginning of year||4,413||3,382|
|Cash and cash equivalents, end of year||$||4,317||$||2,503|
Up until last year, enterprises that were looking into cloud services usually undertook a long-term pilot with one of the large cloud providers, running test and dev workloads in the cloud. With cloud’s transition to mainstream adoption in 2015, and with enterprises migrating more and more workloads into the cloud and in between public and private environments, the single-provider approach must be revisited. In his session at 18th Cloud Expo, Yoav Mor, multi-cloud solution evangelist at Cloudy...
Jan. 22, 2017 08:30 PM EST Reads: 4,689
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Jan. 22, 2017 07:45 PM EST Reads: 3,861
The proper isolation of resources is essential for multi-tenant environments. The traditional approach to isolate resources is, however, rather heavyweight. In his session at 18th Cloud Expo, Igor Drobiazko, co-founder of elastic.io, drew upon his own experience with operating a Docker container-based infrastructure on a large scale and present a lightweight solution for resource isolation using microservices. He also discussed the implementation of microservices in data and application integrat...
Jan. 22, 2017 07:15 PM EST Reads: 3,632
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, will explore the value of Kibana 4 for log analysis and will give a real live, hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He will examine three use cases: IT operations, business intelligence, and security and compliance. This is a hands-on session that will require participants to bring their own laptops, and we will provide the rest.
Jan. 22, 2017 06:30 PM EST Reads: 5,015
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Jan. 22, 2017 06:00 PM EST Reads: 1,541
In his session at 18th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., and Logan Best, Infrastructure & Network Engineer at Webair, focused on real world deployments of DDoS mitigation strategies in every layer of the network. He gave an overview of methods to prevent these attacks and best practices on how to provide protection in complex cloud platforms. He also outlined what we have found in our experience managing and running thousands of Linux and Unix ...
Jan. 22, 2017 04:15 PM EST Reads: 4,525
"LinearHub provides smart video conferencing, which is the Roundee service, and we archive all the video conferences and we also provide the transcript," stated Sunghyuk Kim, CEO of LinearHub, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 22, 2017 03:15 PM EST Reads: 1,686
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Jan. 22, 2017 03:00 PM EST Reads: 1,201
Internet of @ThingsExpo, taking place June 6-8, 2017 at the Javits Center in New York City, New York, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo New York Call for Papers is now open.
Jan. 22, 2017 02:30 PM EST Reads: 3,759
SYS-CON Events announced today that Dataloop.IO, an innovator in cloud IT-monitoring whose products help organizations save time and money, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Dataloop.IO is an emerging software company on the cutting edge of major IT-infrastructure trends including cloud computing and microservices. The company, founded in the UK but now based in San Fran...
Jan. 22, 2017 02:30 PM EST Reads: 2,639
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Jan. 22, 2017 02:00 PM EST Reads: 5,290
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jan. 22, 2017 02:00 PM EST Reads: 5,821
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
Jan. 22, 2017 01:45 PM EST Reads: 3,228
In a recent research, analyst firm IDC found that the average cost of a critical application failure is $500,000 to $1 million per hour and the average total cost of unplanned application downtime is $1.25 billion to $2.5 billion per year for Fortune 1000 companies. In addition to the findings on the cost of the downtime, the research also highlighted best practices for development, testing, application support, infrastructure, and operations teams.
Jan. 22, 2017 01:00 PM EST Reads: 3,849
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Jan. 22, 2017 01:00 PM EST Reads: 4,392