Live Microsystems Inc (LMSC)

[wolfdeluxe]

Financials as expcted - no suprise... still boring here:

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=38861

Livewire Mobile Announces Financial Results for the Quarter Ended September 30, 2010
Launched Mediadrome™ in September 2010 and Three New Managed Services in July 2010

Press Release Source: Livewire Mobile, Inc. On Thursday November 11, 2010, 7:00 am EST
LITTLETON, Mass.--(BUSINESS WIRE)-- Livewire Mobile, Inc. (Pinksheets:LVWR.pk - News), a world leader in ringback, music and managed personalization services, today announced financial results for the third quarter ended September 30, 2010. The Company previously announced that it launched Mediadrome in September 2010 and three new managed services in July 2010:

Recurring managed service revenues increased 4% from third quarter of 2009
Positive adjusted EBITDA performance during the quarter
Positive cash flow from operations for third consecutive quarter
Cash of $7.3 million as of September 30, 2010
Launched three new managed services in July 2010
Launched new online music service – Mediadrome - in September 2010
Quarter Ended September 30, 2010 Results

Total revenues for the third quarter of 2010 were $3.1 million, compared to $3.0 million for the second quarter of 2010 and $4.9 million for the third quarter in 2009. The decrease from the same period last year was primarily due to $0.5 million of non-recurring managed service revenues during the third quarter of 2009 resulting from commercial changes related to a contract extension with one customer, a $0.7 million decrease in the cap-ex portion of our ringback tone (RBT) business, as well as, an expected decrease of $79,000 in non-core handset royalty revenues. The cap-ex portion of the Company’s business can result in considerable variability in quarterly revenues due to the timing of completion of cap-ex deployments. As previously disclosed, the Company expects handset royalties, which are non-core to its business, to be an immaterial component of total revenues in 2010 and beyond. Excluding the $0.5 million of non-recurring managed service revenues during the third quarter of 2009 described above, recurring managed service revenues increased 4% to $2.4 million, from $2.3 million, for the same period in 2009.

Gross margin was 64% during the quarter ended September 30, 2010, consistent with the second quarter of 2010 and down slightly from 66% during the third quarter of 2009, mainly due to revenue mix and the non-recurring $0.5 million in managed service revenues during the third quarter of 2009. Excluding the effect of non-core handset royalty revenues, and the $0.5 million in non-recurring managed service revenues during the quarter ended September 30, 2009, gross margin improved to 64% during the quarter ended September 30, 2010, from 61% during the quarter ended September 30, 2009, a continued operational improvement.

Loss from continuing operations for the third quarter of 2010 was $(0.2) million, or $(0.04) per share, compared to $(0.4) million, or $(0.09) per share for the second quarter of 2010, and compared to income from continuing operations of $0.5 million, or $0.10 per share, for the third quarter of 2009.

Net loss for the third quarter of 2010 was $(0.3) million, or $(0.06) per share, compared to $(0.6) million, or $(0.12) per share for the second quarter of 2010, and net income of $0.2 million, or $0.05 per share, for the third quarter of 2009.

Adjusted EBITDA from continuing operations (a non-GAAP financial measure) was $0.1 million, or $0.02 per share, for the third quarter of 2010, compared to $(0.2) million, or $(0.04) per share, for the second quarter of 2010, and $0.7 million, or $0.16 per share, in the third quarter of 2009. A complete reconciliation between adjusted EBITDA and operating income/(loss) on a GAAP basis is provided in the financial tables at the end of this press release.

Cash totaled $7.3 million at September 30, 2010, compared to $7.8 million at December 31, 2009. The Company generated positive cash flow from operations during the three and nine months ended September 30, 2010, marking the third consecutive quarter of positive cash flow from operations. The decrease in total cash from December 31, 2009 was primarily due to the Company paying its declared dividend of $0.9 million on March 12, 2010.