Good news for shareholders of TheStreet.com (TSCM) and interested observers.
The house that Jim Cramer built just announced that after long delays, it will be reporting earnings for the second and third quarters of 2009 on Monday, January 25th. It will not be reporting Q4 numbers along with these.
TheStreet.com delayed its earnings reports because of issues regarding revenue recognition from Promotions.com, an advertising services firm it recently sold for $3.1 million. Hopefully, the elimination of Promotions.com will smooth things out on the accounting side - I can only speculate that the company delayed earnings so many times to ensure that it wasn't breaking any rules.
Regardless, I'm awfully curious to see how the company handled the aftermath of last year's market lows. I'm sure that advertising took some kind of hit, and that plenty of subscribers to the company's newsletters dropped out of the market.
And obviously, while the company doesn't provide guidance, Google (GOOG) did say just this afternoon on its earnings call that finance was not a strong vertical. That could be a bad omen for TSCM.
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Thursday, January 21, 2010
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