More sell-side reaction to HOLL's quarter

| About: Hollywood Media (HOLL)
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Here's what Roth Capital analyst Richard Ingrassia wrote to clients after Hollywood Media (ticker: HOLL) reported Q4 results:

Broadway Revenues Surging,  Cablenet Reaches Milestone

  • We are reiterating our Strong Buy rating and $7.50 price  target on shares of Hollywood Media.
  • The Company reported revenues well ahead of expectations, but  earnings were below our forecast due to higher SG&A expenses,  including approx. $1.3 million in non-recurring items.
  • Thanks to a redesigned web site and increased general demand  for new shows, Broadway Ticketing revenues were significantly better  than expected in the fourth quarter. Management guidance suggests  33% Y/Y growth in FY05.
  • Other consolidated business segments performed slightly below  our forecast in the quarter. Integration of the Studio Systems  acquisition has taken longer than expected, but management reports  several new contracts in 1H05. We expect a restructured Internet ad  sales segment to benefit from surging user traffic and turn  profitable in 2Q05.
  • The digital cable network reached 10 million households in  February, well ahead of schedule, thanks to an undisclosed new carrier  and add-on deployments by Cox. The Company is now preparing to  launch a national ad sales effort.
  • No update was provided on the Company's strategic intention  for MovieTickets.com, but the site is increasing traffic and most  likely market share thanks to an expanded relationship with AOL  Moviefone and Google.
HOLL chart below.
Holl_9

Full disclosure: at the time of writing I'm long HOLL.