Music and audio book download provider Audible (Nasdaq: ADBL) reported a 4Q net loss of $700,000, or 3 cents a share, compared with a net loss of $2.18 million, or 9 cents a share, in the year-ago period. Revenue at the Wayne, NJ-based company rose to $23.3 million from $18.3 million, a 16 percent gain. For the year, net revenue came in at $82.2 million, up 30 percent year-over-year.
Via the Seeking Alpha conference call transcript, Donald Katz, Audible’s chairman and CEO, said the company got a lift in 4Q from strong seasonal sales, and that the company benefited from its exclusive merchandising arrangement with iTunes and the introduction of its U.K. operation. Apple represented 27 percent of consumer content revenue, up from 24 percent in 3Q.
Reflecting on the net loss, Katz said, “2006 was a time of significant personnel changes, new technology infrastructure installations, and a level of packaging and pricing experimentation and probing of market sensitivities we think appropriate to a company still at the headwaters of the emerging digital distribution marketplace.”
He also acknowledged that Audible experienced some performance disappointments, “which we regard as hard but valuable learning lessons. Learning that helped us adjust in the fourth quarter and learning that will certainly influence our movement forward to profitable growth in our business.” Earnings release | Webcast
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post