Poor Jim Voelker..you have to feel sorry for him. The company survived because of him and now his company’s stock has lost half its value this year. Yesterday, after some bad earnings numbers, the company’s shares dropped as much as 35 percent in after hours.
The news is bad on both fronts: InfoSpace’s search group lost Verizon as a client for its search/directory listings. And then its mobile business has been weakening due to falling margins and moves away from polyphonics to mastertones (and INSP’s declining role in it).
On the earnings conference call today, Voelker got beaten up by the analysts…I haven’t listened in on such a brutal call in about 3 years now, since the bust. The recorded call is here…tons of good info on its mobile business and the challanges it faces here and in Europe.
Another company which needs to do something different from what it is doing now, to say the least. Buyout, maybe?
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