TheStreet.com Earnings: Still Working on the Turn Around

TheStreet Inc. (NASDAQ:TST) reported its results for the second quarter. TheStreet, together with its subsidiaries, provides a variety of subscription-based and advertising-supported content and tools through a range of online platforms, including web sites, mobile devices and email services.

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TheStreet Inc. Earnings Cheat Sheet

Results: Loss widened to $1.9 million (6 cents per diluted share) from $1.7 million (loss of 5 cents per share) in the same quarter a year earlier.

Revenue: Fell 17% to $12.5 million from the year-earlier quarter.

Quoting Management: “During the quarter we made great progress on the expense side of the business. By realizing more efficiencies and right-sizing our cost structure, we were able to decrease total operating expenses from ongoing operations by 20% year over year. However, on the revenue side, the macro-environment continues to be challenging for our businesses, but I remain just as excited as when I joined about the assets we have to grow our business and create value for our shareholders,” said Elisabeth DeMarse, Chairman, President and Chief Executive Officer.

Key Stats:

Revenue has been on the decline for three quarters in a row. In the first quarter, revenue declined 9.2% to $12.8 million while the figure fell 2.8% in the fourth quarter of the last fiscal year from the year earlier.

Cost of sales dropped to $5.7 million, down 16.2% from the year-earlier quarter. Last quarter, cost of sales was 45.7% of revenue versus 45.3% a year earlier.

For the fiscal year, the average estimate has been unchanged at 15 cents a share.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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