Limelight Networks revenue down to USD 39.0 mln in Q3

Tuesday 11 November 2014 | 10:13 CET | News
Digital content delivery company Limelight Networks reported revenue of USD 39.0 million for the quarter ended 30 September, compared to USD 42.7 million in the third quarter of 2013. Netflix revenue was USD 1.2 million in the third quarter, compared to USD 4.2 million in the third quarter of 2013. The third quarter of 2013 included USD 3.3 million of revenues from the company’s Web Content Management business, divested in the fourth quarter.

The company reported a loss from continuing operations of USD 5.1 million or USD 0.05 per basic and fully diluted share for the third quarter, compared to a loss of USD 10.9 million, or USD 0.11 per basic and fully diluted share in the same period of 2013.

EBITDA from continuing operations for the quarter was negative USD 1.2 million. After adjusting for share based compensation, litigation expense, and acquisition related expenses the company reported adjusted EBITDA of USD 1.4 million compared to an adjusted breakeven EBITDA in the year ago period.

During the quarter, Limelight purchased 0.4 million shares at an average price of USD 2.83, in the open market, under its repurchase authorisation. The company has USD 12.5 million remaining under its previously announced repurchase authorisation.

Limelight ended the quarter with 509 employees, up from 477 employees at the end of the second quarter, and slightly up from 508 employees in the year ago period.

Based on current conditions, the company is raising it full year revenue guidance to between USD 159 and USD 161 million, from its previous revenue guidance of between USD 155 and USD 159 million.

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