Please wait while we load the requested 10-K report or click the link below:
For more information contact:
Market Street Partners
SIZMEK REPORTS FOURTH QUARTER AND FULL YEAR 2014 RESULTS
· Full Year Revenue and Adjusted EBITDA Exceed Expectations
· Full Year Core Products Revenue Grows 30%, Led By Mobile and Video
Austin, TX. February 19, 2015 Sizmek Inc. (NASDAQ: SZMK), a global open ad management company that delivers multiscreen campaigns, today reported financial results for the fourth quarter and full year ended December 31, 2014. Revenues for the three months ended December 31, 2014 increased 3% to $48.9 million compared to the same period of 2013. Core products grew 24% for the three months, and comprised 77% of the business for the fourth quarter.
We ended an important year for Sizmek posting a solid quarter, with our core products growing 24% and now representing over three quarters of the Companys total revenues. At the same time pro forma adjusted EBITDA grew significantly even as we invested to increase our platform functionality and expand our product suite, said Neil Nguyen, CEO of Sizmek. Our focus going into 2015 is to continue executing against our product vision of an independent omni-channel technology platform, which will include expansion into programmatic, mobile and video offerings to fully align with the industry growth trends. I continue to be excited about our positioning and opportunity.
Fourth quarter highlights include:
· Pro forma adjusted EBITDA increased 12% to $11.5 million in the fourth quarter of 2014 from $10.3 million in the same period last year.
· Key strategic areas within our core business saw high growth. Core products, including mobile, video, data driven products, services and all other non-rich media products:
· Mobile revenues grew 62% from the fourth quarter of 2013;
· In-stream video revenues increased 51% from the fourth quarter of 2013;
· Data driven products, such as programmatic decisioning, viewability and verification, grew 73% from the fourth quarter of 2013.
· As anticipated, flash based rich media continues to trend out of the business, declining 34% from the fourth quarter of 2013.
· Through December 31, 2014, Sizmek has received $76.0 million of cash related to its spin out as follows:
· At February 7, 2014, Sizmek received a $78.5 million contribution of cash and non-cash net assets related to the sale of the TV business of Digital Generation, Inc., the former parent of Sizmek. The amount was comprised of $37.7 million of cash and $40.8 million of non-cash net assets. As of December 31, 2014, the Company collected or realized approximately $39.0 million of the non-cash net assets.
· Cash and cash equivalents increased from $22.6 million at December 31, 2013 to $90.7 million at December 31, 2014. Sizmek has no long-term debt and purchased $2.0 million of its shares under its approved $15 million repurchase plan in the fourth quarter of 2014.
The following information was filed by Sizmek Inc. (SZMK) on Thursday, February 19, 2015 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 Sizmek Inc.'s financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Sizmek Inc..