TheStreet.com Reports Q2/Q3 Earnings

Talk about your all-time turnarounds!

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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Podcast Appearance with Frank Curzio

I just wanted to give you good folks a heads-up: I recently appeared on my good buddy Frank Curzio's podcast on S&A Investor Radio. Frank and I worked together at TheStreet.com (TSCM) and he's the best in the business when it comes to low-dollar stocks.

We chat about all the fun stuff: Google (GOOG), Apple (AAPL), video games.

Click here to listen.


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TheStreet.com Announces Earnings Date

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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New Site - GadgetStocks.com

Hi all, I'm sorry I haven't been very active lately but I've been planning a new site on tech investing called GadgetStocks.com. It's pretty bare-bones, but I just posted my first piece on the current Microsoft/Google/Apple dustup.


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