Business Magazine

Marchex Reports & Archeo Sells $1.9 Million In Domains In 1st Quarter of 2014

Posted on the 01 May 2014 by Worldwide @thedomains

Marchex, Inc. (NASDAQ:MCHX), today announced its financial results for the first quarter ended March 31, 2014.

Shares of Marchex traded up over 5% during regular trading today up $.47 and is up another $.65 in after hours trading to $10.37

Shares of Marchex closed yesterday at $9.25 so its up over $1 today.

Q1 2014 Financial Highlights

GAAP revenue was $50.5 million for the first quarter of 2014, compared to $34.7 million for the first quarter of 2013.

Non-GAAP revenue2, which excludes domain sales recorded in revenue, was $48.6 million for the first quarter of 2014.

GAAP net income from continuing operations was $846,000 for the first quarter of 2014, compared to a GAAP net income from continuing operations of $116,000 for the first quarter of 2013.

GAAP net income from continuing operations attributable to common stockholders per diluted share was $0.02 for the first quarter of 2014.

This compares to GAAP net income from continuing operations attributable to common stockholders per diluted share of $0.00 for the first quarter of 2013.

Archeo Revenue excluding domain gains and sales 2, 4 $3.1 million $3.6 million

Adjusted OIBA excluding domain gains and sales4 $2.8 million $2.2 million

Adjusted EBITDA excluding domain gains and sales4 $3.8 million $3.2 million

Adjusted non-GAAP EPS3 from continuing operations for the first quarter of 2014 was $0.08, compared to $0.07 for the first quarter of 2013. Adjusted non-GAAP EPS3 from continuing operations excluding domain gains and sales for the first quarter of 2014 was $0.05, compared to $0.04 for the first quarter of 2013.

In July 2013, certain pay-per-click assets were sold. As a result, the financial results of these pay-per-click assets are presented as discontinued operations, net of tax in our condensed consolidated statements of operations in accordance with GAAP, and are excluded from all other results unless otherwise noted.

Marchex Q1 and Recent Call-Driven Business Highlights:

Revenue. Call-Driven and related revenue was $45.5 million for the first quarter of 2014 – a 46 percent increase compared to $31.1 million for the first quarter of 2013.

Customers and Partners. Added more than a dozen new national and reseller customers across several categories, such as Auto Services, Financial Services, and Travel.

Strategic Developments. Marchex raised $32 million as part of its public offering which was completed on April 4th. Marchex intends to use the net proceeds of the offering for general corporate purposes, which may include acquisitions or licenses of, or investments in, products, services, technologies or other businesses.

Archeo Q1 Business Highlights:

Revenue. Archeo non-GAAP revenue was $3.1 million for the first quarter of 2014, which excludes domain sales recognized in GAAP revenue.

Domains sales. During the first quarter of 2014, domain sales yielded $1.9 million.


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