PlanetOut turned a net income of $179,000 for 1Q05 compared to a net loss of $204,000 in 1Q04. Revenues Total revenue for the quarter hit $6.7 million, up 23 percent from $5.4 million the previous year. That included subscriptions, $4.9 million, up 28 percent, and advertising, $1.4 million, up 27 percent. Transaction revenue was smacked by delayed DVD releases, down 24 percent to $420,000.
Chairman and CEO Lowell Selvin: “While our advertising business experienced expected seasonality, it was up substantially from the prior year period, and we believe is well positioned for growth in the balance of the year thanks to an upswing in booked orders from major brand advertisers.”
br>From the Fine Print:
– Subscribers hit a record 137,500 at the end of March, up 31 percent compared with 105,000 year over year. The company predicts that paid subs be between 145,000 and 150,000 by the end of 2Q05.
– Excluding free trials, churn was at an all-time low, down to 8.6 percent from 11.8 percent in 1Q04 and 9.5 percent in 4Q04.
– The uptick in advertising included new campaigns from pharmaceuitical companies, Sony Ericsson, Toyota’s Scion, Visa and Wrigley.
– Preparations continue for the thrid-quarter relaunch of Gay.com.
Earnings replay.
Comments have been disabled for this post