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Tuesday, July 19, 2005

LiveWorld (LVWD) Q2 results

LiveWorld posted Q2 results.

Quarter over quarter revenue growth:
Q2 '04 over Q1 '04: 26%
Q3 '04 over Q2 '04: 21%
Q4 '04 over Q3 '04: 6.4%
Q1 '05 over Q4 '04: 42%
Q2 '05 over Q1 '05: 9%

A 9% gain on top of a 42% gain is great.

Ordinary income is up 50% over Q1 and we finally see some serious real income.

Net income is 1.41 cents a share (with tons of stock options waiting in the wings) and more than the entire earnings of 2004. If we take the number of stock options outstanding (vested and unvested) at the end of Q1 and add a ton more, we could probably say the net income per eventually diluted share is at least .7 cents a share. If we were going to annualize that and then give the company a P/E of 15, it would be worth 42.3 cents which is about what it's selling for now. Given the growth rate, it's probably worth a P/E of about 25, putting it worth about 70 cents a share. But all that is way too simplistic considering the nature of operational leverage at this particular revenue point.

Cash is about the same as the end of Q1, which could mean anything, due to timing of cash flows, but it does put a slight damper on things.

Ok, people on the message board pointed out that if I'm going to count stock options so much, I need to factor in the cash when they're exercized. Ok, fine. Also, there's a ton of NOL still outstanding. If anything it's important to remember that this is currently baked into the numbers and it will eventually run out.


Just found your website. Couldn't find a link to email, so once you get this, could you review this company: LEXO. Please email me any opinion at Chrysostomos@comcast.net. Please feel free to delete this post. I just didn't have any other way to get message to you.

Here is link on info on company: http://www.investorshub.com/boards/board.asp?board_id=3426


Sorry, I don't review suggestions from other people (except for the non-Mandarin-speaking Cantonese child laborers I employ). The methods I use are pretty simple, really. Anyone can do it. The hard part is the actual work itself.
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