Science & Technology
Science and Technology
Science and Technology
Wed, January 14, 2009 LiveWorld Announces Preliminary 4th Quarter Financial Results: Company Sees Revenue Growth and Improved Cash Flow
SAN JOSE, Calif. & NEW YORK & LONDON--([ BUSINESS WIRE ])--LiveWorld, Inc. (Pink Sheets:LVWD), today reported revenue of approximately $3.0 million for the fourth quarter of 2008. This represented an increase of 12% compared to $2.7 million in revenue for the third quarter of 2008.
The use of cash for the fourth quarter of 2008 was approximately $30,000, a $337,000 improvement compared to the third quarter 2008. The company maintained a balance of approximately $1.4 million in cash and cash equivalents for the period ended December 31, 2008.
Detailed annual and quarterly financial information will be made available during March, 2009. This financial information is preliminary and is subject to change when the company provides it annual report for 2008.
About LiveWorld
LiveWorld is the go-to social media marketing agency for everything global corporations need to leverage the power of social networks to build their brands and their business. LiveWorld thinks differently about how companies can use social networks for customer dialogue and relationships and is the only company that offers the combination of a full technology platform, moderation services, community management and marketing strategy, all in one place. This combination – unique in the industry – is the reason why more global brands turn to LiveWorld than any other firm for their ongoing, integrated social media marketing strategy and implementation.
With 24 years of experience, an extensive applications hosting platform, and a track record of delivering over 1 million hours of moderation services, LiveWorld offers its clients a team of experienced community managers and moderators who oversee activity and user content online. LiveWorld deploys its services in more than 70 country-language combinations, and is the trusted partner of leading brands worldwide, including: A&E Television Networks, The Campbell Soup Company, eBay, HBO, HSBC, Kraft Foods, LeapFrog, MINI Cooper USA, TJX, QVC and many others. For further information visit [ www.liveworld.com ]
"Safe Harbor" Statement Under The Private Securities Litigation Reform Act:
This press release may contain forward-looking information concerning LiveWorld's plans, objectives, future expectations, forecasts and prospects. These statements may include those regarding LiveWorld's current or future financial performance including but not limited to lists of clients, revenue and profit, use of cash, investments, relationships and the actual or potential impact of stock option expense, and the results of its product development efforts. Actual results may differ materially from those expressed in the forward looking statements made as a result of, among other things, final accounting adjustments and results, LiveWorld's ability to attract new clients and preserve or expand its relationship with existing clients, LiveWorld's ability to retain and attract high quality employees, including its management staff, the ability to deliver new innovative products in a timely manner, changing accounting treatments, and other risks applicable to the Company. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and the Company undertakes no obligation to update these forward-looking statements to reflect subsequent events or circumstances. For a detailed discussion of these and other risk factors, please refer to LiveWorld's Report on Form 10-K dated March 25, 2008. You can obtain a copy of the Form 10-K on either our website or the SEC Web site ([ www.sec.gov ]).
