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Enliven Marketing Technologies Corporation News

Enliven Marketing Technologies Corporation Announces Fourth Quarter and Full-Year 2007 Financial Results

NEW YORK, March 14 PRNewswire-FirstCall — Enliven Marketing Technologies Corporation (Nasdaq: ENLV), a leading Internet marketing technology company, today announced financial results for the fourth quarter and full-year ended December 31, 2007.

Enliven reported total revenue of $7.1 million for the fourth quarter 2007, a 57 percent increase as compared to $4.5 million in the third quarter 2007 and a 65 percent increase as compared to $4.3 million in the fourth quarter 2006. Gross profit was $2.6 million for the fourth quarter of 2007, an increase of 7 percent compared to $2.4 million in the third quarter of 2007, and a decrease of 18 percent as compared to $3.1 million for the fourth quarter of 2006.

Patrick Vogt, Chief Executive Officer, commented, "I am pleased with the revenue growth this past quarter, and I am proud of our progress in 2007. This includes enhancing and consolidating our creative offerings with the acquisition of Makos and Springbox, our international expansion into the European advertising market, and the launch of new technology products into the emerging markets of InGame Advertising, Rich Media Mobile, and 3D Ad Widgets. All of these developments will advance our market position and increase our ability to perform in 2008."

Mr. Vogt continued, "Furthermore, in an effort to streamline our operations, we have made some one time investments that will help drive efficiencies, lower costs and improve our business operations. As we evolve our strategy and grow our revenue, we are simultaneously reducing our cost structure, and increasing our ability to invest in new technologies. Some of these costs are acquisition and integration related costs, operational process and system improvements, and the move to lower cost facilities. Naturally these one time costs have a negative impact on profitability in the short term, but this will have positive long term benefits for the company."

Operating loss for the fourth quarter of 2007 was $2.7 million, compared to operating loss of $2.4 million in the third quarter of 2007 and operating loss of $1.1 million for the fourth quarter of 2006. Net loss for the fourth quarter of 2007 was $6.1 million or $(0.06) per share compared to a net loss of $0.3 million, or $(0.00) per share in the third quarter 2007 and a net loss of $0.6 million or $(0.01) per share, in the fourth quarter 2006.

For the year ended December 31, 2007, the Company reported revenue of $18.7 million, an increase of 9 percent as compared to $17.2 million for 2006. Gross margin of $9.7 million for 2007 decreased 8 percent from $10.5 million in 2006. Enliven's adjusted operating loss for 2007 was $5.6 million compared to an adjusted operating loss of $5.5 million in 2006.

The Company recorded a net loss for the twelve months ended December 31, 2007 of $13.5 million, or $(0.17) per share. This compares to a net loss for the twelve months ended December 31, 2006 of $19.7 million, or $(0.30) per share.

Enliven's cash, cash equivalents, and marketable securities as of December 31, 2007 were $7.2 million. This can be compared to cash, cash equivalents, and marketable securities of $4.3 million as of December 31, 2006 and $3.3 million as of September 30, 2007.

FINANCIAL INFORMATION

Management prepares and is responsible for the Company's consolidated financial statements which are prepared in accordance with accounting principles generally accepted in the United States. The financial information contained in this press release, which is unaudited, is subject to revision and should not be considered final until the Company files its Annual Report on Form 10-K. At the present time, the Company has no reason to believe that there will be changes to the financial information contained herein.

FINANCIAL MEASURES

In addition to the results presented above in accordance with generally accepted accounting principles, or GAAP, the Company presents financial measures that are non-GAAP measures, specifically adjusted operating income. The Company believes that this non-GAAP measure, viewed in addition to and not in lieu of the Company's reported GAAP results, provides useful information to investors regarding its performance and overall results of operations. These metrics are an integral part of the Company's internal reporting to measure the performance of the Company and the overall effectiveness of senior management. Reconciliations to comparable GAAP measures are available in the accompanying schedules and on the Company's website. The financial measures presented are consistent with the Company's historical financial reporting practices. The non-GAAP measures presented herein may not be comparable to similarly titled measures presented by other companies, and are not identical to corresponding measures used in our various agreements or public filings.

CONFERENCE CALL

The Company will host a conference call on March 14, 2008 at 9 A.M. (Eastern Time) to discuss fourth quarter and full year 2007 financial results.

The conference call will be available via the Internet in the Investor Relations section of Enliven's Web site at http://www.enliven.com, as well as through Thomson/CCBN at www.earnings.com. If you are not able to access the live Web cast, dial in information is as follows:

Toll-Free Telephone Number: (800) 603-7883 International Telephone Number: (706) 643-1946 Pass code: 36918714

Participants should call at least 10 minutes prior to the start of the call.

A complete replay of the conference call will be available approximately two hours after the completion of the call by dialing (800) 642-1687 through Friday, March 21, 2008. Callers should enter the pass code above to access the recording.

ABOUT ENLIVEN MARKETING TECHNOLOGIES

Enliven Marketing Technologies Corporation (formerly Viewpoint Corporation) is a leading Internet Marketing Technology Company, offering Internet marketing and online advertising solutions through a powerful combination of proprietary visualization technology, and a Premium Rich Media advertising platform for the creation, delivery and reporting of PRM. Enliven's family of brands include Unicast, the Internet Marketing and Advertising Technology Group, and Springbox, the Creative Digital Marketing Solutions Group. The company's technology and online advertising solutions are leveraged by some of the world's most esteemed brands, including AOL, GE, Sony, and Toyota. More information can be found at www.enliven.com. The company has approximately 140 employees with offices in New York, NY, Los Angeles, CA, Austin, TX and London, England.

FORWARD LOOKING STATEMENTS

This press release contains "forward-looking" statements as that term is defined in the Private Securities Litigation Reform Act of 1995 and similar expressions that reflect Enliven's current expectations about its future performance. These statements and expressions are subject to risks, uncertainties and other factors that could cause Enliven's actual performance to differ materially from those expressed in, or implied by, these statements and expressions. Such risks, uncertainties and factors include those described in Enliven's filings and reports on file with the Securities and Exchange Commission.

Copyright (C) 2008 Enliven Marketing Technologies Corporation. All Rights Reserved. Enliven, Viewpoint, Unicast, and Springbox are trademarks or registered trademarks of Enliven Marketing Technologies Corporation.

ENLIVEN MARKETING TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (Unaudited) Three Months Ended December 31, September 30, 2007 2006 2007 Revenue: Advertising Systems $4,271 $1,683 $2,004 Search 1,338 1,485 1,533 Services 1,455 1,040 954 Licenses - 66 19 Total revenue 7,064 4,274 4,510 Cost of revenue: Advertising Systems 2,993 538 1,350 Search 28 41 29 Services 1,492 571 747 Licenses - - 3 Total cost of revenue 4,513 1,150 2,129 Gross profit 2,551 3,124 2,381 Operating expenses: Sales and marketing 1,023 1,411 1,118 Research and development 759 781 892 General and administrative 2,405 1,779 2,301 Depreciation 297 129 147 Amortization of intangible assets 748 127 282 Total operating expenses 5,232 4,227 4,740 Loss from operations (2,681) (1,103) (2,359) Other income (expense): Interest and other income, net 84 68 68 Interest expense (201) (217) (202) Changes in fair values of warrants to purchase common stock and conversion feature of convertible notes (3,311) 666 2,254 Total other income (expense) (3,428) 517 2,120 Loss before provision for income taxes (6,109) (586) (239) Provision for income taxes 7 22 17 Net loss from continuing operations (6,116) (608) (256) Net Loss $(6,116) $(608) $(256) Basic and diluted net loss per common share $(0.06) $(0.01) $(0.00) Weighted average number of shares outstanding-basic and diluted 95,918 67,670 82,619 ENLIVEN MARKETING TECHNOLOGIES CORPORATION CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (Unaudited) Year Ended December 31, 2007 2006 Revenue: Advertising Systems $8,811 $7,252 Search 6,082 6,307 Services 3,808 3,470 Licenses 30 148 Total revenue 18,731 17,177 Cost of revenue: Advertising Systems 5,708 4,176 Search 128 154 Services 3,229 2,337 Licenses 3 8 Total cost of revenue 9,068 6,675 Gross profit 9,663 10,502 Operating expenses: Sales and marketing 4,658 5,892 Research and development 3,265 3,919 General and administrative 9,291 8,466 Depreciation 672 466 Amortization of intangible assets 1,388 570 Restructuring charges - 92 Impairment of goodwill - 10,655 Total operating expenses 19,274 30,060 Loss from operations (9,611) (19,558) Other income (expense): Interest and other income, net 264 332 Interest expense (807) (926) Changes in fair values of warrants to purchase common stock (3,318) 515 Total other income (expense) (3,861) (79) Loss before provision for income taxes (13,472) (19,637) Provision for income taxes 52 78 Net Loss from continuing operations (13,524) (19,715) Adjustment to net loss on disposal of discontinued operations - - Net Loss $(13,524) $(19,715) Basic and diluted net loss per common share $(0.17) $(0.30) Weighted average number of shares outstanding-basic and diluted 80,779 66,610 ENLIVEN MARKETING TECHNOLOGIES CORPORATION CONSOLIDATED BALANCE SHEETS (in thousands, except per share amounts) (Unaudited) December 31, December 31, 2007 2006 Assets Current assets: Cash and cash equivalents $6,929 $4,154 Marketable securities 311 113 Accounts receivable, net 7,701 3,037 Prepaid expenses and other current assets 723 543 Total current assets 15,664 7,847 Restricted cash 417 190 Property and equipment, net 1,403 1,023 Goodwill 15,103 14,882 Intangible assets, net 9,553 3,689 Other assets 61 56 Total assets $42,201 $27,687 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 4,712 $ 1,660 Accrued expenses 345 401 Deferred revenue 234 70 Current portion of notes payable 488 389 Current portion of warrants 469 - Accrued incentive compensation 545 545 Current liabilities related to discontinued operations 231 231 Total current liabilities 7,024 3,296 Accrued expenses - Deferred Rent 271 232 Warrants to purchase common stock 8,464 467 Subordinate notes 2,616 2,456 Unicast notes 1,381 1,541 Springbox accrual 2,818 - Stockholders' equity Common stock 99 68 Paid-in capital 319,644 306,214 Treasury stock (1,015) (1,015) Accumulated other comprehensive loss 9 14 Accumulated deficit (299,110) (285,586) Total stockholders' equity 19,627 19,695 Total liabilities and stockholders' equity $42,201 $27,687 ENLIVEN MARKETING TECHNOLOGIES CORPORATION

RECONCILIATION OF INCOME (LOSS) FROM OPERATIONS TO ADJUSTED OPERATING INCOME

(LOSS) (in thousands, except per share amounts) (Unaudited) Three Months Ended December 31, September 30, 2007 2006 2007 Income (Loss) from Operations $(2,681) $(1,103) $(2,359) Plus: Stock based Compensation: COS-Ad Systems 4 10 5 COS - Services 18 21 10 Sales and marketing 89 101 90 Research and development 31 60 29 General and administrative 220 236 218 Depreciation 365 145 169 Amortization 776 155 310 Adjusted Operating Income (Loss) $(1,178) $(375) $(1,528) Twelve Months Ended December 31, 2007 2006 Income (Loss) from Operations $(9,611) $(19,558) Plus: Stock based Compensation: COS-Ad Systems 17 25 COS - Services 44 147 Sales and marketing 356 496 Research and development 114 321 General and administrative 1,164 1,055 Depreciation 815 559 Amortization 1,500 682 Restructuring charges - 92 Impairment of Goodwill - 10,655 Adjusted Operating Income (Loss) $(5,601) $(5,526) Contact: Investor Relations: 212-201-0800 ir@enliven.com

SOURCE Enliven Marketing Technologies Corporation

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