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  • (ACTV, HSC, CPT, UIL, CLNO, CNL) Stock to Watch by Stock-PR.com 0 comments
    Aug 11, 2011 11:31 AM | about stocks: ACTV

     

    The Active Network, Inc. is a leading provider of organization-based cloud computing applications serving diverse market segments including business events, community activities, outdoors and sports. Our technology platform, ActiveWorks™, transforms the way organizers manage their activities and events by automating online registrations and streamlining other critical management functions, while also driving consumer participation to their events. Our flagship media property, Active.com, is the leading online community for people who want to discover, participate in, and share activities about which they are passionate. Headquartered in San Diego, California since 1999, the Company has over 25 offices worldwide.

    Active Network Reports Record Second Quarter 2011 Results

    Quarterly Revenues Increase 21% Year-Over-Year to $99.0 Million

    Company Achieves Record Net Income of $5.5 Million

    Adjusted EBITDA of $20.4 Million, Up 72% Over the Prior Year Period

     

     


    The Active Network, Inc. (NYSE:ACTV), the leading provider of organization-based cloud computing applications, announced its financial results for the second quarter of 2011.

    “We are pleased to report record second quarter results in our initial earnings release as a public Company," said Dave Alberga, CEO of Active Network. “Our record performance was driven by strong registration growth and an increase in revenue per registration as we continue to capitalize on our market opportunity. We have a predictable business model based on recurring revenue from a large and diversified base of organizations, and are continuing to make key investments in our technology platform to help drive future growth. Looking ahead, we are focused on adding more organizations in our existing markets, increasing our customer's online conversion rates and deepening our relationships with existing customers.”

    “An important profitability milestone was achieved this quarter as we scaled our business to drive record quarterly revenues, the first quarter of positive net income and the highest Adjusted EBITDA to date,” explained Scott Mendel, CFO of Active Network. “We performed better than expected during our seasonally strongest quarter, specifically in our higher margin consumer media business. With the proceeds from our offering and positive cash flow, we ended the quarter with a strong balance sheet and $157.5 million in cash and cash equivalents.”

    Q2 2011 Financial Highlights:

    (All comparisons are made to the second quarter of 2010)

    Total net revenue was $99.0 million, up 21% from $81.7 million.

    Technology revenue constituted 86%, or $85.6 million of total net revenue, up 20% from $71.2 million.

    During the quarter, registrations grew 7% to 22.9 million and net revenue per registration increased 8% to $3.04.

    Marketing Services revenue constituted 14%, or $13.5 million of total net revenue, up 28% from $10.5 million.

    Gross margin improved 110 basis points to 59.4%.

    Income from operations improved to $7.5 million compared to $0.6 million.

    Net income improved to $5.5 million compared to a net loss of $1.9 million.

    Adjusted EBITDA, a non-GAAP financial measure, grew 72% to $20.4 million, from $11.8 million.

    Cash flow from operations was $66.4 million, up 23%, as compared to $54.1 million.

    The Company closed the quarter with cash and cash equivalents of $157.5 million.

    More about ACTV at www.ActiveNetwork.com

    Read more at: stock-pr.com/?p=19379

    Themes: ACTV, HSC, CPT, UIL, CLNO, CNL Stocks: ACTV
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