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Knot Inc. (KNOT) filed Quarterly Report for the period ended 2011-09-30.
Knot Inc. has a market cap of $301.6 million; its shares were traded at around $0 with a P/E ratio of 119.4 and P/S ratio of 2.7.
This is the annual revenues and earnings per share of KNOT over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of KNOT.
Highlight of Business Operations:
We had operating income of $1.9 million compared to $1.8 million for the three months ended September 30, 2010. The year-over-year increase in our operating income was driven by increased gross profit offset by increased operating expenses. Operating expenses primarily increased due to intangible asset impairment charges and the establishment of a reserve for a potential employment tax liability related to temporary and contracted employees. We had a net income for the three months ended September 30, 2011 of $1.3 million, or $0.05 per basic share and $0.04 per diluted share, compared to a net income of $1.1 million, or $0.03 per basic share and diluted share, for the three months ended September 30, 2010.Net cash provided by operating activities was $12.2 million for the nine months ended September 30, 2011. This was driven by our net income of $3.5 million adjusted for non-cash items. Non-cash items included depreciation, amortization, stock-based compensation, reserve for returns and other non-cash items of $12.4 million. These increases were offset by a $3.6 million decrease in working capital. We had an increase in trade accounts receivable of $7.0 million driven by our national and local advertising businesses. We had increased inventory of $1.1 million in anticipation of higher seasonal sales of merchandise from our e-commerce business in the second and third quarters. We also had decreased accounts payable and accrued expenses of $1.6 million driven by payments on magazine production-related invoices. These uses of cash were offset by increased deferred revenue of $2.4 million due to advanced billings and increased other liabilities of $2.2 million driven by rent and other costs incurred in connection with our new lease on office space in New York.
Net cash provided by operating activities was $12.2 million for the nine months ended September 30, 2011. This was driven by our net income of $3.5 million adjusted for non-cash items. Non-cash items included depreciation, amortization, stock-based compensation, reserve for returns and other non-cash items of $12.4 million. These increases were offset by a $3.6 million decrease in working capital. We had an increase in trade accounts receivable of $7.0 million driven by our national and local advertising businesses. We had increased inventory of $1.1 million in anticipation of higher seasonal sales of merchandise from our e-commerce business in the second and third quarters. We also had decreased accounts payable and accrued expenses of $1.6 million driven by payments on magazine production-related invoices. These uses of cash were offset by increased deferred revenue of $2.4 million due to advanced billings and increased other liabilities of $2.2 million driven by rent and other costs incurred in connection with our new lease on office space in New York.
Net cash provided by operating activities was $7.6 million for the nine months ended September 30, 2010. This was driven by our net income of $2.1 million adjusted for non-cash items. Non-cash items included depreciation, amortization, stock-based compensation, reserve for returns and other non-cash items of $10.9 million. We also had increased accounts payable and accrued expenses of $1.7 million driven by a reserve for a potential state sales tax liability related to our e-commerce business as well as expenses in connection with our increased publication cycle. We had increased deferred revenue of $1.4 million driven by advanced billings for our winter national and local print cycles. These sources of cash were offset by increased trade accounts receivable and receivables from Macy s of $5.5 million and $530,000, respectively, for national and local advertising and registry revenue. We also had increased inventory of $1.4 million in anticipation of higher seasonal sales of merchandise from our e-commerce business in the second and third quarters.
Net cash provided by operating activities was $7.6 million for the nine months ended September 30, 2010. This was driven by our net income of $2.1 million adjusted for non-cash items. Non-cash items included depreciation, amortization, stock-based compensation, reserve for returns and other non-cash items of $10.9 million. We also had increased accounts payable and accrued expenses of $1.7 million driven by a reserve for a potential state sales tax liability related to our e-commerce business as well as expenses in connection with our increased publication cycle. We had increased deferred revenue of $1.4 million driven by advanced billings for our winter national and local print cycles. These sources of cash were offset by increased trade accounts receivable and receivables from Macy s of $5.5 million and $530,000, respectively, for national and local advertising and registry revenue. We also had increased inventory of $1.4 million in anticipation of higher seasonal sales of merchandise from our e-commerce business in the second and third quarters.
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