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MILLENNIAL MEDIA REPORTS 2012 FOURTH QUARTER
AND FULL YEAR FINANCIAL RESULTS
Fast Growth And Q4 Profitability Marks Milestone Year
Baltimore, Maryland February 19, 2013 Millennial Media, Inc. (NYSE: MM), the independent leader in mobile advertising, today reported financial results for the fourth quarter and full year ended December 31, 2012.
Financial Results and Business Highlights for the Fourth Quarter of 2012
Revenue: For the fourth quarter of 2012, revenue increased to $58.0 million from $34.5 million for the fourth quarter of 2011, a year over year increase of 67.8%.
Gross Margin: For the fourth quarter of 2012, gross margin improved to 41.2% from gross margin of 39.0% for the fourth quarter of 2011.
Net Income (Loss): For the fourth quarter of 2012, net income attributable to common stockholders, on a GAAP basis, was $2.6 million, compared to net loss attributable to common stockholders of $(1.2) million for the fourth quarter of 2011.
Adjusted EBITDA: For the fourth quarter of 2012, adjusted EBITDA, a non-GAAP financial measure that we define as net income (loss) before interest, taxes, depreciation and amortization, and non-cash stock-based compensation, was $5.6 million compared to adjusted EBITDA of $1.2 million for the fourth quarter of 2011.
Net Income (Loss) per Share: For the fourth quarter of 2012, on a GAAP basis, basic and diluted net income per common share was $0.03, compared to basic and diluted net loss per common share of $(0.07) for the fourth quarter of 2011.
Other Business Metrics: As of December 31, 2012, Millennial Media reached over 400 million monthly unique users globally, including approximately 160 million monthly unique users in the United States alone. As of December 31, 2012, more than 39,000 apps were enabled by mobile app developers to operate on Millennial Medias platform, and there were more than 350 million proprietary, anonymous user profiles developed.
Financial Results for the Full Year 2012
Revenue: For the full year 2012, revenue increased to $177.7 million from $103.7 million for the full year 2011, an increase of 71.4%.
Gross Margin: For the full year 2012, gross margin improved to 40.5% from gross margin of 38.7% for the full year 2011.
The following information was filed by Millennial Media Inc. (MM) on Tuesday, February 19, 2013 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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