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at least they didn't say they'll need to issue/sell more stock in order to stay in business :)
17m float? nice.
The number of shares outstanding of the registrant’s Common Stock, $0.001 par value, as of August 1, 2006 was 17,489,562.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=4321073
"PlanetOut's digital media brands include Gay.com, PlanetOut.com, OUT&ABOUT Travel, Advocate.com, Out.com, OutTraveler.com and HIVPlusMag.com, as well as localized versions of the Gay.com site in English, French, German, Italian, Portuguese and Spanish. PlanetOut print media brands include The Advocate, Out, The Out Traveler and HIVPlus, as well as SpecPub, Inc. titles. Transaction services brands include e-commerce Web sites Kleptomaniac.com and BuyGay.com, travel and events marketer RSVP, book publisher Alyson Publications, and direct marketer Triangle Marketing Services, among others."
http://biz.yahoo.com/prnews/060615/sfth069.html?.v=56
look at Karen's qualifications: this is going to be worth a watch to me. Lowell stays on the board
"Karen Magee appointed new chief executive officer of PlanetOut Inc. effective July 1."
"Magee has served on PlanetOut's board of directors since September 2003. Prior to her appointment as PlanetOut's CEO, Karen served as senior vice president of strategic planning for Time Warner from April 2004 until March 2006. She also served as vice president for Time Inc. from February 2001 until April 2004, and before that, served as general manager and vice president of consumer marketing with TIME Magazine from February 1996 until February 2001. Magee sits on the Princeton University Board of Trustees and previously served as co-chair of The Gay & Lesbian Alliance Against Defamation (GLAAD) board of directors. She holds a B.S.E. from Princeton University and an M.B.A. from the Wharton School of the University of Pennsylvania."
http://biz.yahoo.com/prnews/060615/sfth069.html?.v=56
"Although we had positive net income in the year ended December 31, 2005, we had a net loss of $0.5 million for the six months ended June 30, 2006 and we have incurred significant losses since our inception. As of June 30, 2006, we had an accumulated deficit of $35.1 million. We expect to incur significant marketing, engineering and technology, and general and administrative expenses for the foreseeable future. As a result, we will need to continue to grow revenue and increase our operating margins to regain and expand our profitability.
Results of Operations"
http://biz.yahoo.com/e/060809/lgbt10-q.html
here's the financials
http://finance.yahoo.com/q/is?s=lgbt
"Also contributing to the company's revised third quarter revenue projections is slower revenue growth expectations for Local Scene, PlanetOut's branded local advertising business, as well as advertising shortfalls at The Advocate magazine."
http://biz.yahoo.com/prnews/060905/sftu106.html?.v=61
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Frank should have just come out and said the same thing.....
yup
PlanetOut Inc. Revises Third Quarter Revenue Expectations
Tuesday September 5, 4:39 pm ET
Shortfall Due to Unexpected Change in RSVP Riverboat Itinerary and Slower Growth in Local Advertising Sales
SAN FRANCISCO, Sept. 5 /PRNewswire-FirstCall/ -- PlanetOut Inc. (Nasdaq: LGBT - News), the leading media and entertainment company exclusively focused on the gay and lesbian market, today announced that it is lowering its revenue outlook for the third quarter of 2006. The company now anticipates that revenue for the third quarter will be $15 to $16 million, down approximately 14 percent from its previous range. The company also lowered its third quarter adjusted EBITDA expectations to $0.0 to $1.0 million.
ADVERTISEMENT
The third quarter changes are largely due to a shortfall in revenue and an unexpected increase in expenses related to itinerary changes for two of its four riverboat trips offered through RSVP in August and September 2006. The itinerary changes were necessary due to the disclosure by RSVP's independent European riverboat operator that it was unable to meet its contractual obligations to RSVP. In response, RSVP changed the itineraries for these two trips to meet its commitments to its customers.
Also contributing to the company's revised third quarter revenue projections is slower revenue growth expectations for Local Scene, PlanetOut's branded local advertising business, as well as advertising shortfalls at The Advocate magazine.
"Despite our disappointment in having to lower our revenue projections for the third quarter, we remain confident in our core strategy," said Karen Magee, chief executive officer, PlanetOut Inc. "We are taking a very pragmatic look at our business and have a high level of confidence that we are identifying the operational issues that need to be addressed. We are implementing broad process improvements that we believe will improve both our ability to forecast our business and execute on our operating plan."
Although the company has experienced a lower than expected ramp in its Local Scene revenue for the current quarter, Magee pointed out that local advertising remains a compelling business and has the potential of being a significant revenue contributor.
The company is reviewing its full year revenue guidance for 2006 and expects to significantly reduce its full year EBIDTA guidance in its third quarter earnings announcement currently scheduled for November 2, 2006.
About PlanetOut Inc.
PlanetOut Inc. is the leading global media and entertainment company exclusively serving the lesbian, gay, bisexual and transgender (LGBT) community.
PlanetOut's digital media brands include Gay.com, PlanetOut.com, OUT&ABOUT Travel, Advocate.com, Out.com, OutTraveler.com and HIVPlusMag.com, as well as localized versions of the Gay.com site in English, French, German, Italian, Portuguese and Spanish. PlanetOut print media brands include The Advocate, Out, The Out Traveler and HIVPlus, as well as SpecPub, Inc. titles. Transaction services brands include e-commerce Web sites Kleptomaniac.com and BuyGay.com, travel and events marketer RSVP, book publisher Alyson Publications, and direct marketer Triangle Marketing Services, among others.
PlanetOut, based in San Francisco with additional offices in New York, Los Angeles, Minneapolis, London and Buenos Aires, offers Global 1000 and local advertisers as well as its own properties access to what it believes to be the most extensive multi-channel, multi-platform network of gay and lesbian people in the world. For more information, please visit www.planetoutinc.com.
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, the potential of its local advertising business and ability to identify operating issues and implement process improvements, as well as statements containing the words "believes," "anticipates," "expects," and similar words. 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. 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, including local online advertisers and print advertisers; the company's ability to realize anticipated synergies from the integration of the assets of RSVP and LPI; the company's ability to successfully implement its recent integration-related restructuring and management changes; competition; timing and success of cruises, events and product launches; and the company's dependence on technology infrastructure and the Internet. 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, 2005, Quarterly Report on Form 10-Q for the quarter ended June 30, 2006 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 www.sec.gov. All such forward-looking statements are current only as of the date on which such statements were made. PlanetOut does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
--------------------------------------------------------------------------------
Source: PlanetOut Inc.
http://biz.yahoo.com/prnews/060905/sftu106.html?.v=61
Oh yeah! But now that I'm awake I will buy some more! Any ideas why this has slipped so badly? I've noticed that they have made huge purchases over this last year?
Yup..
I'm not really concerned/going to follow this on a tick by tick every minute basis. I'll pick some up at this low, and let it sit for a while to see if I can make some money at some point.
my days of 'investing' in this market are over. It's all about a quick turn and taking profit whenever I can. I'll let the 401k mgr and the realtor do the 'investing.
that's why I went in
like I said..knee-jerk reaction to a lowered forcast. Happens all the time...Stupid stock market.
needs a substance PR ASAP if he wants to regain on this
LOL...Flip dem beeoches, baby!!! MAKE some $$$.
fugly :(
but...let's watch it. PERHAPS it might be good for a bounce.
it's called the 'cost of doing business' and inadequate subscriptions to pick up the slack of unexpected expenses IMO. Same ole story with all businesses
there must be some pretty pixxed off shareholders on this stock for sure and what did Lowell's net worth go down with this plummet
this would be the time for Lowell to put out good news....
I think the question is will it continue to hold a 3.00 base to build on...appears to right now
next attempt has to be above HOD of 3.10 (3.01/3.02)
could have....went as low as $2.66
LOL, I have a Trade Notification concerning the stock.
I completely forgot about a small order I had in and I think I'm reading right I picked up shares at $3.00 ?????????????????????????????????
3.06 HOD..let's see if it can go through it
Very much in agreement florist.
I'm done with that issue now anyway. My shares are in and locked down like everyone else's
yeah...SIRI's a whacky one as well. One I watch. I'll be watching this one for a while and, god forbid, do some serious chart watching.
what's the minimum to stay on this exchange? $4?
this one came out at 5:07PM yesterday
Sept 5 (Reuters) - PlanetOut Inc. (LGBT.O: Quote, Profile, Research) on Tuesday said it is lowering its revenue outlook for the third quarter due to a shortfall in revenue and unexpected increase in expenses.
The media and entertainment company said it now expects revenue of $15 million to $16 million, about 14 percent down from its previous outlook.
In a statement, the company also said it lowered its adjusted earnings, before interest, taxes, depreciation and amortization outlook range for the quarter to between nil and $1.0 million.
For the latest third quarter, analysts on average expect the company to earn 4 cents a share, excluding exceptional items, on revenue of $17.3 million. (Reporting by Esha Dey in Bangalore)
http://yahoo.reuters.com/news/articlehybrid.aspx?storyID=urn:newsml:reuters.com:20060905:MTFH31974_2...
I do agree that the gay media was wimpy in their coverage concerning the dishonesty that occurred with QTN and our last CEO. But none the less the entire gay community should never be responsible for one failed company.
Gays are the most diverse group of people on the planet and there are many differing opinions concerning every issue.
Up till now Logo and Here TV was not available in my area and I do intent to subscribe, but if it doesn't interest me I won't continue to subscribe to anything just because it's GAY.
Besides we already have a gay network on TV called BRAVO!
BTW, the difference with Planet out is it's long involvement within our community in things that really matter the most... Aids prevention, education and care being at the very top of that list.
Unlike QTN which seemed to waste time and money on circuit parties and other wasteful things that had more to do with sex than running a company!
I invested in this company at the beginning. ( No where near the amount that I invested in Q)
When I was still a believer in QTN, I cashed out at a loss and invested more money into Q. Obviously I'm not the best person to give advice on any stock. But PlanetOut has a great reputation and has a long and reputable track record so the comparisons to Q are absurd.
Q was never a legit company in my opinion, just another pinky scamming money out of investors.
It remains to be seen what all the reasons are for this company slipping, hopefully it will rebound.
But hasn't this also happen with Siri? another loser that I invested in at the wrong time!
I wasn't comparing LGBT to Q...GOD PLEASE!!!! I wouldn't wish that on anyone. I'm glad you replied dkgross. I know that you were there too.
Here is my hypothesis: bitter investors gay/straight or otherwise (from QBID) will look at LGBT and immediately remember what happened the last time they invested into a glb/t company. And not invest.
Now, some will and even that is not a guarantee. But the bigger issue is how many wouldn't that normally would have. I know over 120 people with major funds who moved there money elsewhere. Some follow me and others don't.
My point is this: If I were the honest CEO of planet out. I would make it one of my duties/priorities to bring to the attention of all supporters on every platform the happenings at Q. It's a HUGE story in the community and none is capitalizing on it. That is a show in itself! Planet out should have taken the lead on this one to clean it up and show everyone that "WE" will not allow these employees and "family members" in the glbt community to fall by the waste side do to dishonest management team.
This is just a fundamental stance that must be taken so that all supporters and future supporters have some way to read, reference, and view are interested in taking care of the hard working and honest people that put there heart and souls into the last lgbt venture and are now pennieless and some homeless and all they wanted to do was work hard, get paid, and further the glbt cause.
by letting them go you are letting your very own go. And that, in the end, will make you weaker. Never leave your own behind. These people can help you get a documentary worthy of an oscar,
Support QBID workers first, Vendors second, Shareholders third.
And I'm a shareholder. 16.7 million strong and I am a small fish.
I think it would be good NOT to compare this company to Q. This is a NASDAQ stock that's FULLY REPORTING, files complete and thorough financials, is estimating 15-16 MILLION in revenue, etc..
still..that's one FUGLY chart :(
Well Well Well, Let me be the first to post. I am a bag holder on QBID and I must let everyone know that I am jaded on this specific sector. I have watched this stock since it opened trading at about $10 just a few months ago and October I think. Now it is at $4.00
It does appear to be on a rebound however.
I wonder if this is a result of the stealing from the good, gay, generous investors by Frank Olsen.
It should be a priority to help those people regain there funds...at least some of their funds.
Where do you think they will put it. Some of it would definitely come here to LGBT. And trust me...there are thousands of us holding tens millions of shares each (at least)
...by the way ...look at PDSC Amazing thing about to happen!
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