LiveWorld (LVWD)

[stanley01]

LVWD annual audit confirms results

Basically confirm that the results they were publishing for 2012 and 2013 are accurate. Very positive in my opinion. Sales $14.6 million up from $13.5 million. Net income $0.8 million, down from $1.8 million. EPS of .02 versus .04 as they increased spending on sales & marketing. Balance sheet also is extremely strong with $4.4 million in cash and also noticeable is deferred revenue under liabilities dropped significantly. (Total assets $5.5 million versus $1.4 million liabilities.)

Still waiting on an official press release.

http://www.liveworld.com/press-releases/2014/liveworld-reports-audited-financial-results-for-the-full-year-2013/

San Jose, CA, & New York – June 5, 2014 – LiveWorld, Inc. (OTC Markets: LVWD), today announced the audited financial results for the full years 2013 and 2012. Total revenues were approximately $14.5 million for 2013 as compared to the approximately $13.6 million in total revenues reported for 2012.

The Company reported net income for 2013 of approximately $0.8 million, or 6% of total revenues. This compares to the net income of approximately $1.8 million, or 13% of total revenues, reported for 2012. The earnings per share on a fully diluted basis were $0.02 and $0.04 for 2013 and 2012, respectively.

The company ended 2013 with approximately $4.4 million in cash and cash equivalents as compared to the approximately $3.4 million as of the end of 2012. The Company reported a positive working capital balance of approximately $3.8 million as of December 31, 2013 as compared to the approximately $2.8 million as of December 31, 2012.

“Our solid financial results came in as planned with strong revenue growth, healthy profits, and meaningful investments in our products, services, and people” states David Houston, Chief Financial Officer of LiveWorld. “We are committed to the long-term goals of the company which includes bringing compelling products and services to market. In order to achieve our goals we will make material investments in our sales, marketing, and development efforts in 2014.”

Detailed financial information may be downloaded at www.liveworld.com (financials page) or at www.otcmarkets.com