Last10K.com

Salon Media Group Inc (SLNM) SEC Filing 10-K Annual report for the fiscal year ending Sunday, March 31, 2013

Salon Media Group Inc

CIK: 1084332 Ticker: SLNM
Exhibit 99.1
 
 
FOR IMMEDIATE RELEASE: FEBRUARY 14, 2013
 
Salon Media Group, Inc. Reports Third Quarter Results
Major Traffic Increase Fuels Revenue Growth
 
San Francisco, CA (February 14, 2013).  Salon Media Group, Inc. (OTCQB: SLNM) today announced its results for the three months ended December 31, 2012.  Net revenues for the quarter increased 9 percent to $1.0 million compared to the same period last year.  Strong traffic growth at Salon.com resulted in a 23 percent increase in ad revenues for the three months ended December 31, 2012. The ad sales increase in the third quarter primarily stems from a 63 percent increase in third party sales to $0.6 million compared to $0.4 million for the three months ended December 31, 2011.
 
Salon has been able to achieve traffic growth while simultaneously decreasing operating expenses. Total operating expenses declined 7 percent to $1.8 million for the three months ended December 31, 2012, compared to $1.9 million for the same period last year. The savings were achieved through a restructuring that included winding down areas that did not generate growth, such as the Company’s video production unit, Salon Studio, and Salon Core, the subscription-reliant business unit, as well as the sale of The WELL, an online community. These changes reduced the Company’s quarterly operating loss from continuing operations to $0.8 million for the three months ended December 31, 2012, a 20 percent reduction compared to the same period last year.
 
In 2012 Salon’s traffic grew 64 percent, according to ComScore. Among a list of 18 competitors, Salon experienced the third highest traffic rate increase during calendar year 2012.
 
Under the leadership of Cynthia Jeffers, who became the CEO/CTO of Salon Media Group in June 2012, the Company has been driven to improve financial results by innovating custom advertising solutions, broadening and diversifying high quality content offerings, and extending its reach into mobile and social media.
 
“Being among the fastest-growing news sites in terms of audience growth for 2012 will put us in a strong position to monetize this increased traffic, raise our brand profile, and further invest in our core business in 2013,” Jeffers said.
 
 
 

The following information was filed by Salon Media Group Inc (SLNM) on Thursday, February 14, 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.

View differences made from one year to another to evaluate Salon Media Group Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Salon Media Group Inc.

Continue

Assess how Salon Media Group Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Salon Media Group Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2013 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Consolidated Balance Sheets
Consolidated Balance Sheets (parentheticals)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations
Consolidated Statements Of Stockholders' (deficit)
Accounting Policies, By Policy (policies)
Document And Entity Information
Note 1 - The Company
Note 10 - Income Taxes
Note 10 - Income Taxes (details)
Note 10 - Income Taxes (details) - Deferred Tax Assets
Note 10 - Income Taxes (details) - Income Tax Reconciliation
Note 10 - Income Taxes (tables)
Note 11 - Preferred Stock
Note 11 - Preferred Stock (details)
Note 11 - Preferred Stock (details) - Preferred Stock
Note 11 - Preferred Stock (tables)
Note 12 - Discontinued Operations
Note 12 - Discontinued Operations (details) - Discontinued Operations
Note 12 - Discontinued Operations (tables)
Note 13 - Subsequent Events
Note 13 - Subsequent Events (details)
Note 13 - Subsequent Events (details) - Balance Sheet After Subsequent Events
Note 13 - Subsequent Events (details) - Balance Sheet After Subsequent Events (parentheticals)
Note 13 - Subsequent Events (tables)
Note 2 - Summary Of Significant Accounting Policies
Note 2 - Summary Of Significant Accounting Policies (details)
Note 2 - Summary Of Significant Accounting Policies (details) - Basic Loss Per Share
Note 2 - Summary Of Significant Accounting Policies (tables)
Note 3 - Goodwill
Note 3 - Goodwill (details)
Note 4 - Property And Equipment
Note 4 - Property And Equipment (details)
Note 4 - Property And Equipment (details) - Property And Equipment
Note 4 - Property And Equipment (tables)
Note 5 - Borrowing Agreements
Note 5 - Borrowing Agreements (details)
Note 6 - Accounts Payable And Accrued Liabilities
Note 6 - Accounts Payable And Accrued Liabilities (details) - Accounts Payable And Accrued Liabilities
Note 6 - Accounts Payable And Accrued Liabilities (tables)
Note 7 - 401(k) Savings Plan
Note 7 - 401(k) Savings Plan (details)
Note 8 - Employee Stock Option Plan
Note 8 - Employee Stock Option Plan (details)
Note 8 - Employee Stock Option Plan (details) - Assumptions Used In The Determination Of Fair Value Of Share-based Payment Awards
Note 8 - Employee Stock Option Plan (details) - Stock Option Plan Activity
Note 8 - Employee Stock Option Plan (details) - Stock Options Outstanding
Note 8 - Employee Stock Option Plan (tables)
Note 9 - Commitments And Contingencies
Note 9 - Commitments And Contingencies (details)
Note 9 - Commitments And Contingencies (details) - Future Debt Payments
Note 9 - Commitments And Contingencies (tables)
Ticker: SLNM
CIK: 1084332
Form Type: 10-K Annual Report
Accession Number: 0001437749-13-008089
Submitted to the SEC: Wed Jun 26 2013 5:06:21 PM EST
Accepted by the SEC: Wed Jun 26 2013
Period: Sunday, March 31, 2013
Industry: Advertising

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/slnm/0001437749-13-008089.htm