TheStreet.com (TSCM) is trading up about 20% today after getting nearly caught up on its delayed earnings reports. While the company didn't give full Q4 numbers, it did deliver its Q2 and Q3 numbers from 2009.
And even I have to admit that they're pretty damn good - the stock was even upgraded at JMP Securities.
Here's the key statement from CEO Darryl Otte:
“Bookings in our paid services have seen double-digit percentage increases in the second half of 2009 as compared to the prior year period, after having been down in the first half. As bookings are the precursor to higher paid services revenue, this positions us well for 2010. In addition to our strong bookings performance since mid-year, we are pleased that our subscriber counts have risen each quarter after March 2009.The company really could have gotten away with this statement alone, but the numbers themselves are pretty good:
- net cash balance of $83 million
- positive EBITDA for year
- bookings growth of 10-13% in Q4
Frankly, I'm pretty shocked. I imagined they would have bled subscribers to their newsletter offerings throughout 2009, especially since they lost Ron Insana. I still think the company's far too reliant upon Jim Cramer, but I can't argue with the company's performance. I want to buy this stock, which is basically trading at cash.
P.S. Visit GadgetStocks.com!
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