Entertaining Conference Call Moments -- Hollywood Media (HOLL)

Look at this terrific performance from Hollywood Media "Chief Accounting Officer" Scott Gomez and analyst Rich Ingrassia from the Hollywood Media conference call transcript. Rich asks a question. CEO Mitch Rubenstein passes it off to Scott Gomez, who dutifully provides a totally unintelligable answer... which Rich claims to understand. Either he's a genius, or you could call this "the analyst bluff":

Richard Ingrassia - Roth Capital

Mitch, last year the prior quarter deferred revenue balance wasn't a perfect predictor of forward quarter revenues, but the ratio was actually fairly consistent. I'm just wondering if there was some unexpected change in the composition of ticket sales this quarter? Or maybe the composition of deferred revenues is changing here?

Mitchell Rubenstein

I'll have our chief accounting officer, Scott Gomez answer that.

Scott Gomez

How are you doing, Rich? The deferred revenue balances as of December 31st, as of the end of the year were classified in deferred revenue. What we have done with the 1Q06 going forward, something of an auditor point that was brought up. In order to establish for ongoing periods, if you move any deferred revenue associated with hotels or restaurant vouchers to customer deposits. That is why we broke out the customer deposit amount right there on the face, and you will actually see the deferred revenue amounts have changed from December 31st, '05 as presented in the 1Q06 Q and the December 31, 2005 that was filed in the K.

Richard Ingrassia - Roth Capital

I think I understand that.

Full disclosure: Long HOLL.

Comments

[User 1:]

Danny, full disclosure -- I'm long the stock. Having said that, if you read the full transcript you'll see a discussion of the operating leverage in the business and why the company expects revenue to rise.

2006 May 11 12:52 PM