Earnings: The Knot Q3 Revs Grow 35 Percent; Income Down on Higher Taxes

Weddings/lifestyle portal The Knot reported Q3 revenue of $25 million, up 35 percent from last year’s $18.5 million. Net income declined 11 percent to $2.9 million (.09 per share) from $3.4 million ($.11 per share), although the previous period’s tax rate was significantly lower. Pre-tax income was actually up 53 percent. Earnings came in a penny shy of estimates, sending the stock down more than 5 percent in early after-hour trading. Some highlights:

— Online advertising and sponsorship hit $12.4 million, up 32 percent from the prior year — the result of strength at both the national and local levels.

— Merchandise revenue from the sale of wedding supplies grew 24 percent to $5.3 million.

— Registry services revenue associated with last year’s acquisition of TheWeddingChannel accounted for $3.7 million in revenue.

Earnings release | Webcast

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