"
First Quarter
Financial Results
Revenue -- Total revenue for the first quarter of 2005 was $6.
-- Launched a geographically-targeted search capability on the Gay.5 million, GAAP net income
between
$4.
The company expects its second-quarter Adjusted EBITDA to be between $1.
Eastern Time
(2:30 p.com). "Our members
range in age from 45 to 93, and love to travel.
R Family Vacations
' future trips will include small tours, ski trips,
resort programs, adventure trips and land-based
vacations.
Websites about interpersonal relationships, including but not limited to romantic
relationships.
friendship dating
These statements are forward-looking, and actual results may differ
materially
.0 million and $36.8 million and $8.
PlanetOut Inc.com, PlanetOut.flirting interpersonal
-- Expanded content
page views with improved site search functionality
allowing visitors to access a rich archive of
entertainment, health, news,
travel and style content, together with the addition of branded content
modules, discussion links, and other article tools that expand advertising
inventory.
The
company is reiterating its full-year guidance for 2005. Such forward-looking statements involve known
and unknown
risks, uncertainties and other factors which may cause the actual results,
performance
or achievements of the company to differ materially from any
future results, performance or achievements
expressed or implied by such
forward-looking statements.
All figures reported today are
unaudited and may be subject to change.friendship flirting
"We met or exceeded our financial goals for the quarter, while
improving our members' experience, positioning PlanetOut for continued growth.8
percent in the
first quarter of 2004 and 9.0 million, and anticipates GAAP net income to be between
$500,000 and
$1. Separately, a brief slide presentation will be utilized during the
call and will be available
on the "Investor Relations" section of the
Company's corporate website (http://www.5 million
active
members worldwide through a comprehensive group of branded businesses
featuring diverse chat, news
, entertainment, travel, dating, personal finance,
career, shopping and community services at Gay
.
Supplemental Disclosure of Stock-Based Compensation Expense (Benefit)
(Unaudited, in thousands)
Three
Months Ended
Mar.com or call 866-R-FAM-VAC
For further information about RainbowVision Properties, visit
http://www.zines lifestyles
7 million, a
23-percent
increase from total revenue of $5.01 $(0.forgiveness quotations
com
premium subscription service called "Who's Online
Near Me?"
-- Completed installation of a Wells Fargo transaction gateway and
automated credit
card updating capabilities on Gay.com
service with the addition of expanded server capacity, resulting
in system
uptime of 99.0 million and $10.m.planetoutinc.
Condensed
Balance Sheets
(Unaudited, in thousands)
Mar.enotalone relationships
com, which will set the
stage for the launch of multi-currency
and e-Check support to further expand
the company's transaction processing capabilities.
"During the first quarter, we posted strong bottom-line results, while
continuing to improve our
operations," said Jeff Soukup, executive vice
president and chief financial officer. "With the investments
we are making in
technology infrastructure, increased consumer marketing, and new product
development
, including the upcoming introduction of redesigned Gay. 31, Dec. 31,
2005 2004
Assets
Current assets:
Cash
and cash equivalents $41,705 $43,128
Accounts receivable, net
1,492 2,075
Prepaid expenses and other current assets
3,259 2,209
Total current assets 46,456 47,412
Property and equipment, net 7,404 7,011
Goodwill
3,403 3,403
Investment in unconsolidated affiliate
48 57
Other assets 1,171
1,325
Total assets $58,482 $59,208
Liabilities and stockholders' equity
Current liabilities:
Accounts payable
$855 $2,040
Accrued liabilities
1,304 1,469
Deferred revenue 3,870 3,506
Capital lease obligations, current portion 741 998
Notes payable
, current portion 189 190
Total current liabilities
6,959 8,203
Capital lease obligations, less current portion 409
491
Notes payable, less current portion 94 142
Deferred rent 1,826 1,608
Total liabilities
9,288 10,444
Stockholders' equity:
Common stock
17 17
Additional paid-in capital
88,202 88,387
Note receivable from stockholder (603
) (603)
Unearned stock-based compensation (1,181) (1,619)
Accumulated other comprehensive loss (108) (106)
Accumulated deficit
(37,133) (37,312)
Total stockholders' equity
49,194 48,764
Total liabilities and stockholders' equity $58,482
$59,208
PlanetOut Inc.negative pals
"We are very pleased with
our financial and operating results for the
first quarter, including record growth in paid subscribers
and a record low
churn rate of 8.
-- Demonstrated strong advertising sales momentum in the
first quarter
with new campaigns from Bristol-Meyers Squibb, GlaxoSmithKline, Sony Ericsson,
Scion
(a marque of Toyota Motor Sales USA), VISA, and Wrigley.0 million.S.
Condensed
Statements of Operations
(Unaudited, in thousands, except per-share data)
Three Months Ended
Mar. 31, Mar.
(3) Adjusted EBITDA is a non-GAAP financial measure
and is defined as net
income (loss) before interest, taxes, depreciation and amortization
,
stock-based compensation, equity in net income (loss) of
unconsolidated affiliate
and other income (expense), net.com or Call 800-775-5550 x306.romantic questionnaires
For the
first quarter of 2005, both
of these items include increases in technical
infrastructure investments, marketing activities as
part of the company's
strategy to convert registered members to paid subscribers, and quarterly and
annual audit fees and expenses related to compliance with the Sarbanes-Oxley
Act. Specifically
,
the company expects revenue to be between $32. expects to provide additional
subscriber guidance
during its quarterly results call for the second quarter
of 2005. The innovative vacation experience
includes educational programming for kids and adults provided by the Human
Rights Campaign, PFLAG
, and the Family Pride Coalition.rfamilyvacations.marriage zines
-- Made significant progress toward the expected
launch, in the third
quarter, of a substantially redesigned Gay.com site on a new Java-based
platform
in order to enhance member and subscriber experience, scalability and
flexibility, along with the
roll-out of Internet protocol (IP) detection for
international sites. 31,
2005 2004
Revenue:
Subscription services
$4,853 $3,789
Advertising services
1,392 1,097
Transaction services 420
554
Total revenue 6,665 5,440
Operating
costs and expenses:
Cost of revenue 2,125 2,143
Sales and marketing 2,456 1,672
General and administrative
1,248 1,295
Depreciation and amortization
820 470
Total costs and expenses 6,649 5,580
Income (loss) from operations 16 (140)
Other income
(expense), net 192 (64)
Income (loss) before income taxes
208 (204)
Provision for income taxes 29
--
Net income (loss) 179 (204)
Accretion on redeemable convertible
preferred stock
-- (438)
Net income (loss) available for common
stockholders
$179 $(642)
Net income (loss) per common share - basic (1)
$0. On our vacations everyone feels welcome: young, old, gay
or straight.romantic marriage
PlanetOut Reports First
-Quarter 2005 Results
The company's business outlook for second-quarter revenue, Adjusted
EBITDA, and net income reflects several factors, including increased marketing
expenses, investments
in technology infrastructure and personnel to enhance
member and subscriber experience, as well as
increased quarterly and annual
audit fees and expenses related to compliance with the Sarbanes-Oxley
Act.com).com ranked number one, among all websites
measured, for average time spent per visitor in
September, October and
December 2004, according to Nielsen//NetRatings' Loyalty Stickiness Report
for
at-home visitors in the U.
"This alliance with R Family Vacations is perfect for RainbowVision
," says
Joy Silver, President and CEO of RainbowVision Properties, Inc.dating etiquette
5
million and $2. According
to Gregg Kaminsky: "Our trips have a relaxed,
family friendly atmosphere without all night dance
parties, which many people
in our community have grown away from. Ports of call
include Halifax
(Nova Scotia), Boston, Provincetown and Martha's Vineyard.
This cruise is perfect for gay and
lesbian travelers of all ages, their
families (kids too) and their friends.etiquette negative
Recent Business
Highlights
-- Subscribers totaled a record 137,500 at March 31, 2005, a 31-percent
increase
compared with 105,000 subscribers at the end of the same period a
year ago. Subscriber churn was
at a record low of 8.6 percent for the first
quarter of 2005, excluding free trials, continuing a
downward trend from 11.com
websites, we believe that we are positioning the company to capitalize
on
growth opportunities in the markets that we serve. This summer's cruise departs
from New York
City on July 10, 2005 on the new Norwegian Dawn.dating divorce
86 percent for the quarter, with "three-nines" performance
in
March 2005.
About PlanetOut Inc.
Additional information concerning factors that
could affect PlanetOut's future
business and financial results is included in the company's Annual
Report on
Form 10-K for the year ended December 31, 2004 and other public filings filed
from time
to time with the Securities and Exchange Commission (SEC), which are
available at the SEC's website
at http://www.rainbowvisionprop.
romance divorce
Adjusted earnings before interest, taxes,
depreciation, and amortization
(EBITDA) for the first quarter of 2005 was
$813,000 compared with $809,000 for the same quarter a
year ago.
For the second quarter of 2005, the company expects revenue to be between
$7. 31
,
2005 2004
Net income
(loss) $179 $(204)
Provision for income taxes
29 --
Other (income) expense, net
(192) 64
Income (loss) from operations $16 $(140
)
Depreciation and amortization 820 470
Stock-based compensation
expense (benefit) (23) 479
Adjusted EBITDA
$813 $809
PlanetOut Inc. We have some of
the best entertainment
ever offered at sea.etiquette negative
1 million for the first quarter of 2004; and
transaction
revenue of $420,000, a 24-percent decline from $554,000, for the
same period of 2004, due to the
delayed release of popular DVD compilations.
Income from Operations and Adjusted EBITDA
-- Income from operations for
the first quarter of 2005 was $16,000 compared to a loss of $140,000
in the
first quarter of 2004.5 million and $6. Because Adjusted EBITDA is
not a measure of financial
performance under GAAP and is susceptible to
varying calculations, it may differ from and not be
comparable to similarly
titled measures of other companies. PlanetOut, based in San Francisco, offers
FORTUNE 1000
advertisers access to what it believes to be the most extensive network of gay
and
lesbian people in the world.
Forward-Looking Statements
In addition to the historical
information contained herein, this press
release contains forward-looking statements, including statements
regarding
PlanetOut's anticipated future growth and financial performance, as well as
statements
containing the words "believes," "anticipates," "expects," and
similar words.01 $(0. Guests
can also
expect world-class entertainment including Rosie and Cyndi Lauper.romance cyberrelationships
The company undertakes
no obligation to update these statements.0 million, and paid subscribers between 174,000
and 194
,000.m. A telephonic replay
will also be available for two weeks after the live call at 800-405-2236
(international parties dial 303-590-3000), access code 11028062. is a leading global online media
company offering consumer
services, news and entertainment to the lesbian, gay, bisexual and transgender
community.com.37)
Weighted average number of shares used in
computing basic per-share
calculation 16,939 1,725
Net income (loss) per common share - diluted
(2) $0.37)
Weighted average number of shares used in
computing diluted per-share calculations
18,269 1,725
Adjusted EBITDA (3) $ 813
$ 809
(1) Basic net income (loss) per share is computed using the weighted
average number of common shares outstanding during the period. For more
information, visit http:
//www.divorce cyberrelationships
planetoutinc. For clarification, we
have provided a reconciliation of Adjusted EBITDA
to both net income
(loss) and income (loss) from operations because we believe that
these are the most comparable GAAP financial measures to Adjusted
EBITDA. 31,
Mar.
Located in Santa Fe, NM, with several more properties under development
throughout
the United States and Europe, RainbowVision was created as a New
Concept in Club Living for the GLBT
community.anger interpersonal
(Nasdaq: LGBT) today
reported its financial results for the first quarter ended March
31, 2005. Total revenue for the first quarter of 2005 included subscription
services revenue of
$4.
Net Income and Earnings Per Share -- Net income for the first quarter of
2005 was
$179,000 or $0.3 million.
Use of Non-GAAP Financial Measures
This press release discusses
Adjusted EBITDA, a non-GAAP financial
measure.
(2) Diluted net income (loss) per share is
computed using the weighted
average number of common shares that would have been outstanding
if
the dilutive potential common shares had been issued. 31,
2005 2004
Stock-based compensation expense (benefit
):
Cost of revenue $12 $149
Sales and marketing
8 87
General and administrative
(43) 243
Total stock-based compensation expense
(benefit)
$(23) $479
RainbowVision Properties Selects
R Family Vacations as Its Official GLBT Travel Company
forgiveness interpersonal
4 million for the first quarter
of 2004
.4 million, a
27-percent increase from $1.
-- Improved site performance and enhanced response
time on the Gay.com and
Kleptomaniac.
The following table reconciles the calculation of Adjusted
EBITDA with both
net income (loss) and income (loss) from operations for the three months ended
March 31, 2005 and 2004:
(Unaudited, in thousands
)
Three Months Ended
Mar.romance kissing
And while our advertising business experienced expected
seasonality, it was up
substantially from the prior year period, and we believe is well positioned
for growth in the balance of the year thanks to an upswing in booked orders
from major brand advertisers
. Currently, PlanetOut Inc. Pacific Time) to discuss results for the first quarter
of 2005.
PlanetOut Inc.distance zines
9 million, up 28 percent from $3.37) per basic and diluted
share for the first quarter
of 2004.
Conference Call and Webcast Information
The
company will host a conference call and live webcast at 5:30 p. Additionally, PlanetOut Inc. will offer
a
live webcast of the conference call, accessible from the "Investor Relations"
section of the
company's website (http://www. Readers should not consider Adjusted EBITDA in isolation or as a
substitute
for net income (loss), operating cash flows or other cash flow
statement data determined in accordance
with GAAP. The company serves its growing base of approximately 3.sec.gov. We deduct
other
income (expense), net, consisting primarily of interest income
from net income in calculating
Adjusted EBITDA because we regard
interest income to be a non-operating item." R Family
Vacations will host events for their more mature guests
and will also provide an opportunity to learn
all about RainbowVision
Properties on all of their upcoming vacations.divorce negative
01 per basic and diluted share
, compared with a net
loss of $204,000, or $(0.
Parties in the United States and Canada
can dial 800-218-4007, access code
11028062, to participate in the teleconference. A detailed reconciliation
of the pro forma
measurement data with comparable GAAP measurements has been provided as a
table
following the condensed financial statements accompanying this
announcement. Gay. Such factors include
, among others, the company's
limited operating history and variability of operating results; the
company's
ability to attract and retain subscribers and advertisers; competition; and
the company
's dependence on technology infrastructure and the Internet. 31, Mar.relationships divorce
Posts Record Growth
in New Subscriptions and Strong Ad Revenues
SAN FRANCISCO, PlanetOut Inc."
Business
Outlook
The following statements are based upon management's current expectations.0 million,
Adjusted EBITDA between $9. International parties can
access the call at 303-262-2140. New
YORK, RainbowVision Properties Inc., the first
company to build resort/retirement communities serving
the Gay, Lesbian,
Bisexual and Transgendered population, has chosen R Family Vacations, the
first
company to offer vacations to the GLBT population and their families, as
its official travel company
. R Family Vacations will be
offered to RainbowVision residents as one of the services available
as a Club
Member benefit.romantic flirting
6 percent," said Lowell Selvin, chairman and chief executive
officer
.8 million for the same
quarter a year ago; advertising revenue of $1.5 percent in the fourth quarter
of
2004.
The company expects paid subscribers as of June 30, 2005 to be between
145,000
and 150,000.
PlanetOut Inc."
Founded by Rosie and Kelli
O'Donnell and travel entrepreneur Gregg
Kaminsky, R Family Vacations feature vacation packages for
gay and lesbian-
headed families.friendship romantic
A community sponsored library.
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