Billings for the fourth quarter were $51.8 million, an increase of 35 percent from the fourth quarter of 2003. Billings represent the full amount of subscription contracts billed to customers during the quarter. The difference between billings booked and revenue recognized in the fourth quarter resulted in an increase in deferred revenue of $20.1 million from the end of September, bringing total deferred revenue to a record $132.3 million at the end of December. For the year, billings totaled $150.2 million, an increase of 35 percent from 2003.
To this picture
Also at the meeting, management reiterated first quarter guidance for billings of $33.5 million to $34.5 million and guidance for first quarter subscription revenue of $33 million to $34 million. Based on this level of revenue and current expectations for expenses, the company indicated it now expects earnings per diluted share to be 34 cents, compared to prior guidance of 33 cents.
What's so positive about this? Where is the growth?
Insiders were selling heavy prior to this announcement. new Billings dropped almost 40%
Are we living in A fantasy with WBSN----guidance increased????-----a stock valued at $ 58-58.50-----------------market value 9 to 10 X's annual revenue==============>>>Insiders selling----and value of stock up 100% in a year-----no way to buy at 59