Earnings: Audible Q4 Revs Up 35 Percent; Swings To Profit; Sale To Close In Q2
By Joseph Weisenthal - Fri 29 Feb 2008 05:42 AM PST
With a sale to Amazon (NSDQ: AMZN) in the works, Audible (NSDQ: ADBL) has announced Q4 revenue of $31.1 million, a 35 percent year-on-year increase from $23.2 million. Net income increased to $4 million from a loss of $.9 million, however this quarter, included a non-operating gain of $3.1 million on the sale of certain assets. The company said that it acquired another 71,000 new AudioListener members in the quarter, and that it’s total base is now 457,000, up from 381,000 at the end of 2006. The company expects the Amazon sale to go through in Q2. Depending on when in the quarter it closes, this could be its last report as a standalone entity.
Disclaimer: Our investor Alan Patricof served as one of Audible’s directors from August 2003 until his resignation in June 2007.
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