Year: $314.4 million Revenue,
$55.1 million Income from Operations
$49.4 million Net Loss!
Isn't that a bit ugly? I sure think it is.
2012 830K OUCH! Losing 90K in a year, almost 10%. Very ugly indeed.
paid usage - upslightly, 3.1- 2.9 million minutes. Hard to get too excited with a 10% cut in subbers though.
ARPU is up, but so is the cost to add them. Essentially a wash. But look at the key metric Avg. Lifetime Rev. per member. WAS 81, and now is 70!! a 14% cut, that's terrible. And it gets worse:
"We are currently in default under our New First Lien Notes, Cash Pay Second Lien Notes and Non-Cash Pay Second Lien Notes. "
You never want to see this! They have til May 6 to get the rest of their creditors to agree to a new plan. Some 80% seem to have done so.
Their lenders gave them some time in 2012 to improve, but their patience ran out, and the interest rate is now 15%. Which leads to this nugget:
"The report of our independent registered public accounting firm includes an explanatory paragraph concerning conditions that raise substantial doubt about our ability to continue as a going concern, and there is no guarantee that we will be able to continue to operate our business. "
OUCH!! The dreaded "accounting statement. " This is serious, kiddies.
Apparently all will be clarified in the next month or so.
"We appealed the NASDAQ staff determination and attended a hearing before the NASDAQ Hearings Panel on March 28, 2013. The appeal will stay the delisting of our common stock pending the NASDAQ panel’s decision; however, there can be no assurance that the panel will grant our request for continued listing."
I wonder if the appeal board is waiting to see what happens by May 6?
Income from Operations is at a 4 year low. Not promising. And it gets worse!
Net Cash from Ops: 2011 36.8 K
2012: 12.5K That's a 66% cut!