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Answers Corp (1283073) SEC Filing 10-Q Quarterly report for the period ending Wednesday, June 30, 2010

Answers Corp

CIK: 1283073

 
 
 
Traffic Up 21% Year-over-Year; $1.49 Million Cash Flow from Operations
 
New York, NY, August 9, 2010 - Answers Corporation (NASDAQ: ANSW), creators of the leading answer engine Answers.com®, which includes the properties WikiAnswers® and ReferenceAnswers™, today reported unaudited financial results for its second quarter ended June 30, 2010.
 
“The past few months were a big turning point for our product direction. As promised, we launched a streamlined new Mobile Answers.com. We connected to the Facebook and Twitter social media platforms, with more to come. And we launched Video.Answers.com, with 200,000 videos, to promote user engagement,” said Robert Rosenschein, Chairman and CEO. “We experienced 21% year-over-year traffic growth in Q2. According to comScore, our 40.4 million unique monthly visitors in June ranked Answers.com #22 in the U.S. And we have topped 9 million answers in our user-generated database. We are confident in our position in the large and growing Q&A space and excited going into the strongest season of the year.”
 
“The company’s single most important development initiative in progress is the creation of a new automated Reputation Management System (RMS),” said Jeff Schneiderman, Chief Technical Officer. “This will help us monitor and improve user-generated content quality, promoting the best answers. We believe this proprietary algorithm should contribute to traffic, revenue, database value, and user satisfaction alike.”
 
Financial and Traffic Results at a Glance
(in thousands – except page views)
 
Quarterly Results (Unaudited)
 
Q2 - 2009
 
Q2 - 2010
 
Change
Revenues
 
$5,004
 
$5,020
 
-
Operating income
 
$1,215
 
$790
 
(35%)
Adjusted EBITDA
 
$1,895
 
$1,381
 
(27%)
WikiAnswers average daily page views
 
6,082,000
 
8,578,000
 
41%
ReferenceAnswers average daily page views
 
2,965,000
 
2,399,000
 
(19%)
Total Answers.com average daily page views
 
9,047,000
 
10,977,000
 
21%
 
 
Year-to-Date Results (Unaudited)
 
Six months ended June 30
   
   
2009
 
2010
 
Change
Revenues
 
$9,750
 
$10,746
 
10%
Operating income
 
$2,311
 
$2,017
 
(13%)
Adjusted EBITDA
 
$3,637
 
$3,221
 
(11%)
WikiAnswers average daily page views
 
5,712,000
 
8,785,000
 
54%
ReferenceAnswers average daily page views
 
2,973,000
 
2,567,000
 
(14%)
Total Answers.com average daily page views
 
8,685,000
 
11,352,000
 
31%
 
 
See Appendix A of this earnings release for the 2009 and 2010 quarterly revenue, traffic and RPM data of our two Web properties.
 
Conference Call
 
Answers.com will host a conference call today, August 9, 2010, at 4:30 P.M. (Eastern Time) to be broadcast over the Internet at http://ir.answers.com. To participate via telephone, please dial (888) 396-3782 and request the Answers call. A replay will be available on the site shortly after the call.
 

The following information was filed by Answers Corp on Monday, August 9, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 1283073
Form Type: 10-Q Quarterly Report
Accession Number: 0001283073-10-000028
Submitted to the SEC: Wed Aug 11 2010 7:33:45 AM EST
Accepted by the SEC: Wed Aug 11 2010
Period: Wednesday, June 30, 2010
Industry: Prepackaged Software

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