Webmediabrands Inc (WEBM, Financial) filed Quarterly Report for the period ended 2011-06-30.
Webmediabrands Inc has a market cap of $32.6 million; its shares were traded at around $0.9 with and P/S ratio of 3.6.
Cost of revenues primarily consists of payroll and benefits costs for technology and editorial personnel, freelance costs, communications infrastructure and trade show and education operations. Cost of revenues excludes depreciation and amortization. Cost of revenues was $1.4 million for the three months ended June 30, 2010 and $2.1 million for the three months ended June 30, 2011, representing an increase of 52%. This change was primarily due to increases in trade show costs of $387,000 mainly due to the SemTech Conference that we ran during the second quarter of 2011, as well as increases in employee-related costs of $108,000 and in editorial freelance costs of $89,000 as we continued to expand our development of blog content, including in the areas of social media, social networks, social gaming and virtual goods. In addition, the acquisition of Inside Network added $133,000 to cost of revenues during the second quarter of 2011, including $30,000 in stock-based compensation.
Cost of revenues was $2.7 million for the six months ended June 30, 2010 and $3.6 million for the six months ended June 30, 2011, representing an increase of 32%. This change was primarily due to increases in trade show costs of $368,000 mainly due to the SemTech Conference that we ran during the second quarter of 2011, as well as increases in employee-related costs of $195,000 and in editorial freelance costs of $172,000 along with the impact of the Inside Network acquisition.
Advertising, promotion and selling expenses primarily consist of payroll and benefits costs for sales and marketing personnel, sales commissions and promotion costs. Advertising, promotion and selling expenses were $495,000 for the three months ended June 30, 2010 and $633,000 for the three months ended June 30, 2011, representing an increase of 28%. This was primarily due to an increase in trade show advertising costs of $52,000 and an increase in employee-related costs of $34,000.
Depreciation expense was $118,000 for the three months ended June 30, 2010 and $81,000 for the three months ended June 30, 2011, representing a decrease of 31%. Depreciation expense was $246,000 for the six months ended June 30, 2010 and $165,000 for the six months ended June 30, 2011, representing a decrease of 33%. These decreases are due primarily to the write-off of fixed assets during the first and second quarter of 2011.
Amortization expense was $21,000 for the three months ended June 30, 2010 and $93,000 for the three months ended June 30, 2011, representing an increase of 343%. Amortization expense was $32,000 for the six months ended June 30, 2010 and $211,000 for the six months ended June 30, 2011, representing an increase of 559%. These increases are due primarily to the finalization of the purchase price allocation of the SemTech conference and SemanticUniverse blog. This purchase occurred during the third quarter of 2010.
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Webmediabrands Inc has a market cap of $32.6 million; its shares were traded at around $0.9 with and P/S ratio of 3.6.
Highlight of Business Operations:
Revenues were $2.5 million for the three months ended June 30, 2010 and $3.8 million for the three months ended June 30, 2011, representing an increase of 55%. Revenues were $4.4 million for the six months ended June 30, 2010 and $6.0 million for the six months ended June 30, 2011, representing an increase of 39%. These changes were primarily due to an increase in trade show revenues and online job postings. We ran five trade shows during the three months ended June 30, 2011 and six trade shows during the six months ended June 30, 2011 compared to four trade shows during the three months ended June 30, 2010 and six trade shows during the six months ended June 30, 2010. In addition, we ran our SemTech Conference for the first time during the second quarter of 2011. The acquisition of Inside Network contributed $319,000 to our revenues during the three and six months ended June 30, 2011, representing the results of Inside Network from May 12 through June 30.Cost of revenues primarily consists of payroll and benefits costs for technology and editorial personnel, freelance costs, communications infrastructure and trade show and education operations. Cost of revenues excludes depreciation and amortization. Cost of revenues was $1.4 million for the three months ended June 30, 2010 and $2.1 million for the three months ended June 30, 2011, representing an increase of 52%. This change was primarily due to increases in trade show costs of $387,000 mainly due to the SemTech Conference that we ran during the second quarter of 2011, as well as increases in employee-related costs of $108,000 and in editorial freelance costs of $89,000 as we continued to expand our development of blog content, including in the areas of social media, social networks, social gaming and virtual goods. In addition, the acquisition of Inside Network added $133,000 to cost of revenues during the second quarter of 2011, including $30,000 in stock-based compensation.
Cost of revenues was $2.7 million for the six months ended June 30, 2010 and $3.6 million for the six months ended June 30, 2011, representing an increase of 32%. This change was primarily due to increases in trade show costs of $368,000 mainly due to the SemTech Conference that we ran during the second quarter of 2011, as well as increases in employee-related costs of $195,000 and in editorial freelance costs of $172,000 along with the impact of the Inside Network acquisition.
Advertising, promotion and selling expenses primarily consist of payroll and benefits costs for sales and marketing personnel, sales commissions and promotion costs. Advertising, promotion and selling expenses were $495,000 for the three months ended June 30, 2010 and $633,000 for the three months ended June 30, 2011, representing an increase of 28%. This was primarily due to an increase in trade show advertising costs of $52,000 and an increase in employee-related costs of $34,000.
Depreciation expense was $118,000 for the three months ended June 30, 2010 and $81,000 for the three months ended June 30, 2011, representing a decrease of 31%. Depreciation expense was $246,000 for the six months ended June 30, 2010 and $165,000 for the six months ended June 30, 2011, representing a decrease of 33%. These decreases are due primarily to the write-off of fixed assets during the first and second quarter of 2011.
Amortization expense was $21,000 for the three months ended June 30, 2010 and $93,000 for the three months ended June 30, 2011, representing an increase of 343%. Amortization expense was $32,000 for the six months ended June 30, 2010 and $211,000 for the six months ended June 30, 2011, representing an increase of 559%. These increases are due primarily to the finalization of the purchase price allocation of the SemTech conference and SemanticUniverse blog. This purchase occurred during the third quarter of 2010.
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