Spoken word digital audio company Audible will slip into red for full-year 2005, the company stated today…the delayed launch of its new site hurt operations.
It now expects revenue in 2005 of $62 million to $64 million, vs. prior guidance of $62 million to $65 million, and is anticipating a pretax loss of $1 million to $1.5 million — below its prior guidance of pretax income of $1.6 million to $2 million.
Also, CEO Don Katz said in a statement: “The most important factor contributing to the loss was higher than anticipated marketing and operating expenses incurred during the quarter.”
More details here in release.
Updated: Audible CEO Don Katz spoke at the Citigroup confab today and his archived presentation is here. He said: The site went up a few weeks late, and the user experience has been “relatively bumpy”. It prevented us to carry out our marketing plan, affiliate marketing and PR plan. We also had more legal expenses.
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