- Rosetta Stone (NYSE:RST) uses its Q4 report to state it's "refocusing its corporate strategy and realigning resources" around its Global Enterprise & Education (E&E) ops. It plans to "reduce global non-E&E headcount approximately 15%, resulting in annual expense reductions of approximately $50 million."
- The cost cuts will "target Consumer sales and marketing, Consumer product investment, and G&A costs." A $7M Q1 charge is expected, and an $18M Q4 non-cash impairment charge has been recorded. Chief product officer Nick Macey will now report to E&E chief Judy Verses, as will Rosetta's IT and business development teams.
- The language software vendor's North American and international consumer revenue both declined 11% Y/Y in Q4, respectively falling to $48M and $6.4M. Global E&E revenue rose 51% to $24.9M, thanks largely to acquisitions.
- Bookings rose 15% Y/Y to $96.6M (above revenue of $79.3M). Rosetta is guiding for 2015 Global E&E bookings of $120M-$130M, up 8%-15% Y/Y.
- For now, shares are unchanged AH.
- Q4 results, PR