Earnings: The Knot Posts Quarterly, Annual Profit Gains

The Knot (NASDAQ: KNOT), a wedding-related content publisher, posted both 4Q and annual revenue gains, though it was helped mostly by tax benefits and a legal settlement. For 4Q06, The Knot reported net revenues of $21.7 million, a 70 percent increase compared to $12.8 million posted in 4Q05. For the year that ended Dec. 31, The Knot’s revenue rose to $72.7 million, an increase of 41 percent from $51.4 million in 2005. The WeddingChannel business, which was acquired on September 8, 2006, contributed $6.7 million in revenue for the year. National and local online ad programs contributed roughly 32 percent over the previous year. Other highlights:
–Net income for the quarter was $14.6 million, or 45 cents per share, up from $1.5 million, or 6 cents per share, in the fourth quarter 2005. Earnings include a $9.7 million tax benefit and a $1.2 million gain on a legal settlement.
— Net income for the full year was $23.4 million, or 82 cents per share, up from $4 million, or 16 cents per share, in 2005. Earnings release | Webcast

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