Earnings Call Excerpt
TheStreet.com Q4 2005 Earnings Conference Call Transcript (TSCM)
February 9, 2006
Executives
Thomas J. Clark Jr., Chairman and Chief Executive Officer
James Lonergan, President and Chief Operating Officer
Lisa A. Morgensen, Chief Financial Officer
Analysts
Michael Monskoff, MRM Capital
Frank Grathena, Adminel Partners
Corey Johnson, Kanal Capital.
Pyran Robai, Roth Capital Partners
Andrew Sol, E-stoppers Creek
Susan Meller, Independent Investor
Zane Weinheim,Kettle Hill.
Michael Moskow, MRM Capitol.
Presentation
James Lonergan, President and Chief Operating Officer
Some of the statements made on this earnings call not related to historical facts may be deemed to be forward looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward looking statements may concern TheStreeet.com financial performance as well as its strategic and operational plans are subject not risks and uncertainty that could cause actual results to differ. The company undertakes no duty to update any such statements. The risks and uncertainty are described in the company’s SEC filing on file with the SEC and available at its website www.SEC.gov. Additional information will also be set forth in TheStreet.com annual report on Form 10K for fiscal year ending December 31, 2005 which will be filed with SEC in the future.
I will now turn the call over to Tom Clark, TheStreet.com’s Chairman and Chief Executive Officer. Tom.
Thomas J. Clark Jr., Chairman and Chief Executive Officer
We are extremely pleased to report full year profitability for the first time in our history. It is especially satisfying knowing that our employees have always handled any bumps in the road with the highest level of professionalism and it is a testament to their efforts and commitment that we have achieved this significant milestone. I thank them for all they have done.
On this call last year I talked about a strong foundation and the strength of our electronic publishing segment in particular. As I mentioned in our press release earlier today, with the closing of our securities, research and brokerage business in June, our electronic publishing segment shows such strength with $5.8 million earnings for the fiscal year. It is never easy to close a business unit, but it was the right decision for the company and for our shareholders.
The results we report today for the full year 2005 reflect that decision and also position us for a very solid future. In achieving profitability it is important to note that this was achieved even as we accelerated the expense of stock options one quarter before the mandated date which resulted in an additional $0.3 million non-cash compensation expense in the quarter.
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