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Jupitermedia 10-Q filing

Online images. The decrease in revenues during the three and six months ended June 30, 2008 is due primarily to declines in direct sales of royalty-free single images and CD-ROMs and in sales from third party distributors, partially offset by an increase in subscription revenues. [...]

Online media. The increase in revenues during the three and six months ended June 30, 2008 was due to the acquisition of Mediabistro which added $2.3 million and $4.4 million in revenues, respectively. This was partially offset by a reduction in advertising revenues due to a decline in advertising spending by technology companies.

(Full quartery report here/Rafat Ali takes a deeper look at MediaBistro)

Jupitermedia posts Q2/2008 results

• Y-o-Y down: -$1.293 million.
• Q-o-Q down: -$52.000.
• Net loss: $3.286 million.
• Q3/2008 business outlook: $33.5 million - $34.5 million.
  • Previous Q2/2008 outlook: $35.0 million - $36.0 million.
• Shares closed yesterday at $1.30.
• More details in the press release.

Jupiterimages´Q2 revenues ($26.090 million) were again the lowest in the last two years.

(1) JI Rev.  (2) JUPM Rev.  (3) JI Rev. in % of JUPM Rev.

Y	Q2/06	Q3/06	Q4/06	2006	Q1/07	Q2/07	Q3/07	Q4/07	2007	Q1/08	Q2/08
1	26.807	26.177	27.087	106.64	27.914	27.383	26.824	26.783	108.904	26.142	26.090
2	35.026	33.784	34.779	137.53	34.771	34.699	34.766	36.128	140.334	34.546	35.000
3	76.53%	77.48%	77.88%	77.54%	80.28%	78.92%	77.16%	74.13%	77.60%	75.67%	74.54%

 

Correction on Getty Q2/2008 revenues

The previous chart "Getty Images Q2/2008 Numbers (Ultra-Light Version)", as of July 16, 2008, based on a SPI story, is no longer online. It was incorrect.

Getty said that:

Since we are no longer a publicly traded company, we have not issued a press announcement regarding our revenue earnings for the second quarter of 2008.

The number posted in your story of $218 [million] is in fact the revenue generated during our fourth quarter of 2007, while the first quarter of 2008 was $233.2 million.

Getty Images: New Form 8-K

 

 

Jupitermedia Conference Call

• Revenues (rounded numbers) per segment for Jupiterimages in Q1/2008:
  • Single Images: $12.6 million (Q4/2007: $12.7 million)
  • Subscription: $7.5 million (Q4/2007: $7.5 million)
  • Distributors, Other: $6.1 million (Q4/2007: $6.6 million)

• Consequently Alan Meckler said that "the weakness came from the distribution side of the business".
• Unfortunately no answer to a direct question about the revenues of Stockxpert.
• "Three to seven micropayment sites will be very successful over the next years".
• "The [microstock] revolution is [still] going on" in a "challenging environment".
• "The RM business is not growing as it used to be".
• The "digital Superstore" (Jupiterdigital) is likely to launch on Sept. 1st.

Jupiterimages Q1/2008 Results

Jupitermedia, the parent company of Jupiterimages, released yesterday the results for Q1/2008. Currently at the time of writing no new JUPM SEC filings are available, and shares closed yesterday at $2.31. The Conference Call will follow today. More details in the press release.

Jupiterimages´ Q1/2008 revenues ($26.142 million) were the lowest in the last two years:

• Y-o-Y down -6,35% or -$1.772 million from $27.914 million in Q1/2007.

• Down -2,39% or -$641.000 from $26.783 million in the previous quarter Q4/2007.

 

(1) Jupiterimages Rev.  (2) JUPM Rev.  (3) Jup.images Rev. in % of JUPM Rev.

Y	2005	Q1/06	Q2/06	Q3/06	Q4/06	2006	Q1/07	Q2/07	Q3/07	Q4/07	2007	Q1/08
1	80.66	26.565	26.807	26.177	27.087	106.64	27.914	27.383	26.824	26.783	108.904	26.142
2	113.75	33.941	35.026	33.784	34.779	137.53	34.771	34.699	34.766	36.128	140.334	34.546
3	70.9%	78.27%	76.53%	77.48%	77.88%	77.54%	80.28%	78.92%	77.16%	74.13%	77.60%	75.67%

 

Alan Meckler said that "revenues from our JupiterimagesUnlimited high level royalty-free subscription offering grew over 100% from the first quarter of 2007 to the first quarter of 2008. We are also starting to see significant growth from our recently launched Stockxpert.com microstock subscription offering".

The business outlook for the whole Jupitermedia Corporation for Q2/2008 expects quarterly revenues of $35.0 million - $36.0 million, like in the previous quarter.

QuickLinks For 2008-05-05

• Ahead of the Bel, Blair cuts Getty Images on price:
  An analyst downgraded shares of Getty Images late Friday, predicting the stock photography provider has little room for growth as the shares close in on their buyout price.
  William Blair analyst Troy Mastin lowered shares of Getty to "Market Perform" from "Outperform" in a note to investors. The stock finished at $33.15 on Friday. Mastin said shares are fairly priced ahead of an expected buyout from private equity firm Hellman & Friedman LLC. [...]
  "Shares no longer offer an adequate upside to justify the rating," he said.
  In addition, the analyst noted Getty's first-quarter results reported Thursday were above his estimates, and said the positive earnings make the completion of the buyout very likely.
  AP Story on Forbes. -More new events here.
  Related:
  
  • Getty’s Numbers Suggest Buyout Is on Track (NYT, Deal Book, May 05, 2008)

Getty Images Q1/2008 Numbers (Light Version)

Full quarterly metrics, like in Q4/2007, are understandably missing this time. More here.

Revenue in Total (T), with Sequential change (S) and Year-over-Year-change (Y):

PER	2005	Q1/06	Q2/06	Q3/06	Q4/06	2006	Q1/07	Q2/07	Q3/07	Q4/07	2007	Q1/08
T	$733.2	$200.4	$204.6	$197.9	$203.5	$806.6	$212.7	$218.0	$208.9	$218.1	$857.6	$233.2*
S	-	8.1%	1.9%	-3.3%	2.7%	-	4.4%	2.5%	-4,17%	4.40%	-	6.92%
Y	17.9%	12.8%	10.5%	7.4%	9.5%	10.0%	6.1%	6.5%	5,56%	7.07%	6.32%	9.64%

• Income from operations was $44.7 million:
  • compared to $55.7 million in Q1/2007
  • compared to $47.8 million in Q4/2007

• Net income was $23.9 million:
  • compared to $38.0 million in Q1/2007 (- 37%)
  • compared to $28.5 million in Q4/2007 (- 16%)
    

Assuming another 4% loss in revenues in Q3/2008 and results in Q2 and Q4 at the least like in Q1/2008, Getty Images could be good for 2008 revenues of around $923 million (for various reasons a highly speculative conclusion ...). The company itself expects revenues for 2008 of approximately $900 million.

*The initial projection for Q1/2008 was "approximately $220 million".

A21 Reports Q4/2007 + Full Year 2007 Financial Results

A21 (ATWO), the parent company of SuperStock, the Royalty-Free brand Purestock, the subscription brand PurestockX, of Ingram Publishing/Ingram Stock, ArtSelect and the upcoming MediaMagnet, has released Q4/2007 and full year 2007 financial results (in T$):

 

A21 Revenues = Total, Image Licensing = Im. Lic., Art Select = Art S.

YEAR	2005	Q1/06	Q2/06	Q3/06	Q4/06	2006	Q1/07	Q2/07	Q3/07	Q4/07	2007
Total	9.563	2.935	4.511	5.904	6.283	19.633	6.124	5.696	5.387	6.099	23.306
Im. Lic.	9.563	2.935	3.022	2.986	3.032	11.976	3.168	3.038	2.765	2.936	11.907
Art S.	--	--	1.489	2.918	3.251	7.657	2.956	2.658	2.622	3.163	11.399

 

Unlike in previous quarters, I currently lack the time to describe more details publicly. Please read the fine print in the Financial Exhibits section here and do your own math.
The recent SEC filing has more details: please read all details here.

Jupitermedia Releases Financial Results For Q4/2007 + Full Year 2007

Jupitermedia, the parent company of Jupiterimages, today released the results for Q4/2007 and the full year 2007. In contrast to previous quarters, I lack the time this quarter here on this blog to take a closer look at some financial details publicly, and actually readers used to read the fine print will find all details for their Excel sheets here in the press release. A quick and very general overlook:

 

(1) Jupiterimages Rev.  (2) JUPM Rev.  (3) Jup.images Rev. in % of JUPM Rev.

Y	2005	Q1/06	Q2/06	Q3/06	Q4/06	2006	Q1/07	Q2/07	Q3/07	Q4/07	2007
1	80.658	26.565	26.807	26.177	27.087	106.636	27.914	27.383	26.824	26.783	108.904
2	113.754	33.941	35.026	33.784	34.779	137.530	34.771	34.699	34.766	36.128	140.334
3	70.9%	78.27%	76.53%	77.48%	77.88%	77.536%	80.28%	78.92%	77.16%	74.13%	77.60%