IVILLAGE INC (NasdaqNM:IVIL) ---Turnaround Wert?????? - 500 Beiträge pro Seite

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iVillage Reports Fourth Quarter 2000 and Fiscal Year 2000 Revenues Increased and Losses Narrowed
2000 Revenue Increased by 109% Over 1999 Revenue to $76.4 Million
Continued Focus on Profitability
NEW YORK--(BUSINESS WIRE)--Feb. 5, 2001-- iVillage Inc. (Nasdaq:IVIL - news), operator of the iVillage network, which includes iVillage.com, Lamaze Publishing and The Newborn Channel, today announced financial results for the fourth quarter and the fiscal year ended December 31, 2000.

For the fourth quarter and the full year 2000, iVillage improved its revenue, EBITDA and net loss, excluding non-cash items, compared to fourth quarter and full year 1999.

Net revenues from continuing operations for the fourth quarter increased by 12% to $18.7 million over revenues from continuing operations of $16.7 million for the fourth quarter of 1999. iVillage reported an Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) loss from continuing operations of $6.2 million for the quarter ended December 31, 2000, a 62% improvement from an EBITDA loss from continuing operations of $16.4 million for the comparable year-ago period. Net loss from continuing operations for the fourth quarter of 2000 was $9.8 million or ($0.33) per share compared to a net loss from continuing operations of $26.0 million or ($0.91) per share for the same period a year ago.

Net revenues from continuing operations for fiscal year 2000 were approximately $76.4 million, an increase of 109% over net revenues from continuing operations of $36.6 million in fiscal year 1999. For 2000, iVillage reported an EBITDA loss, excluding an impairment of goodwill of $35.7 million compared to an EBITDA loss of $60.8 million in 1999, a 41% improvement. Net loss from continuing operations for fiscal year 2000 was $68.0 million or ($2.29) per share, excluding two non-cash write-downs totaling $111.5 million, compared to net loss from continuing operations of $82.1 million or ($3.93) per share in fiscal year 1999. Including the non-cash write-downs, iVillage reported a net loss from continuing operations for fiscal year 2000 of $179.5 million or ($6.05) per share. At the end of the fourth quarter 2000, iVillage had $58.2 million in cash, cash equivalents and restricted cash on its balance sheet.

``We continued to expand our business and enter into key domestic and international strategic alliances in 2000,`` said Doug McCormick, CEO of iVillage. ``We grew 2000 revenues by 109% over last year and met both top and bottom line expectations for the fourth quarter. Going into 2001, in anticipation of overall softness in the advertising market for the first half of the year, we continue to evaluate opportunities for additional revenue streams as well as areas where we can reduce our costs. We remain focused on becoming EBITDA positive in the third quarter and our business initiatives are directed toward meeting that goal.``

EBITDA improved by approximately $0.8 million in the fourth quarter 2000 compared to the third quarter, reflecting management`s focus on reducing costs.

``In a challenging quarter, we found a way to achieve savings and efficiencies, which shows the team`s business acumen and ability to be flexible under any kind of market conditions,`` said McCormick.

HIGHLIGHTS

iVillage Continues to Show Strength in Core Metrics

In December 2000, iVillage had an average reach of 9.4%, based on a custom report run by Media Metrix. Traffic to iVillage.com grew to 214 million average monthly page views during the fourth quarter 2000, up from 204 million average monthly page views in the third quarter 2000 and 137 million average monthly page views during the fourth quarter of 1999.
In December, iVillage ranked 12th out of the top 50 sites in minutes spent per month, as well in pages per visitor per month. Additionally, iVillage was ranked the 12th largest content site on the Web in November.
Yahoo! Internet Life, the nation`s leading consumer lifestyle magazine covering the Internet, ranked iVillage The Best Women`s Network on the Web in its annual ``Top of the Net`` issue.
iVillagehealth.com (formerly AllHealth.com) won the Gold Level eHealthcare World award for Best Community Building site for 2000.
iVillage Continues to Attract Key New Sponsors

During the fourth quarter, more than 25 new brands were added to the iVillage.com site, including Avon, Hasbro, Eli Lilly, Noxzema, Kleenex and Hallmark. iVillage continues to maximize its advertising revenue, with revenue per thousand page views of more than $29 in the fourth quarter. iVillage`s revenue per thousand page views remains among the highest in the industry, continuing to outperform all other vertical content sites including the computer, sports and women categories.
iVillage is Maximizing its Assets and Furthering Business Objectives Through Key Strategic Partnerships

iVillage launched iVillage UK, a joint venture with Tesco PLC, Britain`s largest retailer as an online resource and community for women providing advice and information 24 hours a day. The launch marks a major new online resource for women, who are expected to make up 60% of the UK online audience by 2005.
In February 2000, iVillage and Unilever formed an independently managed company, to provide women with a highly focused community, an array of interactive, customized online services, beauty and personal care products, and personalized product recommendations. The company functions as a separate venture from Unilever and iVillage, managing the Substance.com, allowing women to go to one unbiased, comprehensive site for their total beauty needs.
iVillage deepened its relationship with Unilever by joining with Hindustan Lever Limited (HLL), a Unilever subsidiary, in a licensing agreement. The agreement brings together iVillage`s award-winning content and online solutions to the women of India with HLL`s physical and brand assets to support the Indian site through online and offline activities targeted to Indian women.
iVillage expanded its agreement with America Online Inc. Under terms of the two-year agreement, iVillage became an astrology provider for AOL`s Horoscopes Area, accessible through AOL`s Women`s Channel or at AOL Keyword: Horoscopes. iVillage will also became an anchor tenant in the AOL Horoscopes Area, located in the Women`s Channel.
New Management Appointments Add to iVillage Management Depth

iVillage elevated Scott Levine to Chief Financial Officer, responsible for all of the Company`s financial operations. Mr. Levine was previously interim Chief Financial Officer.
iVillage also added another seasoned media veteran to its management team, naming John Barbera President, Sales and Sales Marketing. Prior to joining iVillage, Mr. Barbera served as Chief Operating Officer for 24/7 Media Europe. He also was the former President of Turner Networks Television Sales.
Operational Highlights

In July, iVillage returned to its focus on its core media competencies by selling certain assets of the iBaby commerce business. iVillage intends to remain active on an e-commerce platform through revenue-generating sponsorship agreements with category-leading companies rather than carry the fulfillment side of the equation.
iVillage launched Lamaze.com in October to serve the needs of women from the time they begin thinking about having a baby through the first year of their newborn`s life. The site offers rich content, personalized tools, expert advice and community support to provide women with an understanding of the natural childbirth process.
iVillage joined with leading online research firm Dynamic Logic to offer sponsors metrics on the branding effectiveness of sponsorship and advertising campaigns on the iVillage Network. Verizon Long Distance is the first customer.
Business Outlook

``We are a media company and in 2000, we continued to scale our media model,`` McCormick continued. ``Going forward, we will look to support our revenue model with additional revenue streams from paid content, subscription services and paid newsletters. We already have content licensing and technology agreements with Substance.com and Hindustan Lever as part of our iVillage Solutions offering and expect to add to that client base.``

Similar to other online advertising supported companies, iVillage currently expects revenues between $12 million and $14 million for the first quarter of 2001, down 25%-35% compared to fourth quarter 2000 revenue, reflecting anticipated softness in the online advertising market. For the full fiscal year 2001, iVillage expects single digit percentage growth in revenue as compared to fiscal year 2000 revenue.

About iVillage.com: The Women`s Network

iVillage.com: The Women`s Network (http://www.ivillage.com and AOL keyword: ivillage) is the leading women`s network online providing practical solutions and everyday support for women between the ages of 25 and 54. iVillage.com is organized into branded communities across 18 content channels that focus on issues of most importance to women and provide interactive services, peer support and online access to experts and tailored shopping opportunities. Content channels include Astrology, Babies, Beauty, Books, Computing, Diet & Fitness, Food, Games, Health, Home & Garden, Lamaze, Money, News & Issues, Parenting, Pets, Relationships, Shopping, and Work. Established in 1995 and headquartered in New York City, iVillage Inc. (Nasdaq: IVIL - news) is a new media company, recognized as an industry leader in developing innovative sponsorship and commerce relationships that match the desire of marketers to reach women with the needs of iVillage.com members for relevant information and services.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995:

iVillage Inc. has included in this press release certain ``forward-looking statements`` within the meaning of the Private Securities Litigation Reform Act of 1995 concerning iVillage`s business, operations and financial condition. The words or phrases ``can be``, ``expects``, ``may affect``, ``may depend``, ``believes``, ``estimate``, ``project`` and similar words and phrases are intended to identify such forward-looking statements. Such forward-looking statements are subject to various known and unknown risks and uncertainties and iVillage cautions you that any forward-looking information provided by or on behalf of iVillage is not a guarantee of future performance. Actual results could differ materially from those anticipated in such forward-looking statements due to a number of factors, some of which are beyond iVillage`s control, in addition to those discussed in iVillage`s other press releases, public filings and statements by iVillage`s management, including (i) the volatile and competitive nature of the Internet industry, (ii) changes in domestic and foreign economic and market conditions, (iii) the effect of federal, state and foreign regulation on iVillage`s business, (iv) the impact of recent and future acquisitions and joint ventures on iVillage`s business and financial condition, and (v) iVillage`s ability to establish and maintain relationships with advertisers, sponsors, and other third party providers and partners. All such forward-looking statements are current only as of the date on which such statements were made. iVillage does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.


iVillage Inc. and Subsidiaries
Condensed Consolidated Balance Sheets
(in thousands)

December 31, December 31,
2000 1999

ASSETS:

Current assets:
Cash and
cash equivalents $ 48,963 $ 106,010
Restricted cash - 1,495
Accounts
receivable, net 7,864 6,620
Inventory - 2,332
Other current assets 9,700 3,193
Total current assets 66,527 119,650
Restricted cash 9,250 -
Fixed assets, net 20,057 10,017
Goodwill and intangible
assets, net 36,432 175,143
Other assets 137 7,938
Non-current assets of
discontinued operations 56 -
Total assets $ 132,459 $ 312,748

LIABILITIES and STOCKHOLDERS` EQUITY:

Current liabilities:
Accounts payable and
accrued expenses $ 18,695 $ 16,216
Deferred revenue 6,337 12,682
Deferred rent 361 -
Net current liabilities
of discontinued
operations 882 -
Total current
liabilities 26,275 28,898

Deferred rent, net of
current portion 4,818 -
Total liabilities 31,093 28,898

Commitments and
contingencies

Stockholders` equity 101,366 283,850
Total liabilities and
stockholders` equity $ 132,459 $ 312,748



iVillage Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)

Three months ended Year ended
December 31, December 31,
2000 1999 2000 1999

Revenues $ 18,665 $ 16,712 $ 76,352 $ 36,576

Cost of revenues 6,789 4,935 27,596 15,426

Gross margin 11,876 11,777 48,756 21,150

Operating expenses:
Product development
and technology 1,956 1,331 7,731 5,226
Sales and marketing 10,810 17,635 46,711 46,061
Sales and marketing-
NBC expenses 640 5,288 7,387 17,465
General and
administrative 4,674 3,878 22,634 13,164
Depreciation and
amortization 4,155 11,467 37,681 25,720
Impairment of goodwill - - 98,056 -
Total operating
expenses 22,235 39,599 220,200 107,636

Loss from
operations (10,359) (27,822) (171,444) (86,486)

Interest income, net 1,066 1,636 5,261 4,085
Other income, net 72 142 595 271
Writedown of investments (317) - (13,496) -
Loss from unconsolidated
joint venture (307) - (422) -

Net loss from
continuing
operations (9,845) (26,044) (179,506) (82,130)

Preferred stock deemed
dividend - - - (23,612)

Net loss attributable to
common stockholders from
continuing operations (9,845) (26,044) (179,506) (105,742)

Discontinued operations (195) (3,888) (11,922) (10,871)

Net loss attributable to
common stockholders $(10,040) $(29,932) $(191,428) $(116,613)

Basic and diluted net
loss per share
attributable to common
stockholders from
continuing
operations, excluding
impairment of goodwill
and writedown
of investments $ (0.32) $ (0.91) $ (2.29) $ (3.93)

Basic and diluted net
loss per share
attributable to common
stockholders $ (0.34) $ (1.04) $ (6.45) $ (5.58)

Weighted average shares
of common stock outstanding
used in computing basic and
diluted net loss per share 29,707 28,660 29,683 20,901

Other supplemental
information:
EBITDA loss, excluding
impairment of goodwill $ (6,204) $(16,355)$ (35,707) $(60,766)
EBITDA loss, excluding NBC
expenses and impairment
of goodwill $ (5,564) $(11,067)$ (28,320) $(43,301)




iVillage Inc.
Income Statement ($ in Million except for EPS)

Mar-99 Jun-99 Sep-99 Dec-99 FY 99
Revenue 4.793 6.416 8.655 16.712 36.576
Growth q-q 34% 35% 93%
Growth Y/y

Cost of Revenues 3.722 2.885 3.884 4.935 15.425
Gross Profit 1.072 3.531 4.771 11.777 21.151
Gross Margin 22% 55% 55% 70% 58%

Product Development &
Technology 1.408 1.195 1.292 1.331 5.226
% of Revenues 29% 19% 15% 8% 14%
Sales and Marketing 10.553 11.813 18.237 22.923 63.526
% of Revenues 220% 184% 211% 137% 174%
General and Administrative 3.245 3.012 3.030 3.878 13.165
% of Revenues 68% 47% 35% 23% 36%
Depreciation and
Amortization 2.389 3.651 8.213 11.467 25.720
% of Revenues 50% 57% 95% 69% 70%
Impairment of Goodwill

Total Operating Expenses 17.595 19.671 30.772 39.599 107.637
% of Revenues 367% 307% 356% 237% 294%

Loss from Operations (16.523)(16.140)(26.001)(27.822)(86.486)

Interest Income (Expense)
& Other 0.330 1.182 0.937 1.636 4.085
Other Income (Expense) 0.129 0.142 0.271
Loss from unconsolidated JV
Net loss from continuing
operations (16.193)(14.958)(24.935)(26.044)(82.130)

Discontinued Operations (1.367) (2.145) (3.471) (3.888)(10.871)
Preferred Dividend (23.612) (23.612)
Net Loss Attributed to
Common (41.172)(17.103)(28.406)(29.932)(116.613)

EPS from continuing
operations - excluding
impairment of goodwill
and investment
writedowns (0.89) (0.63) (0.98) (0.91) (3.93)

EPS $(2.25) $(0.72) $(1.12) $(1.04) $(5.58)
Shares out 18.295 23.728 25.430 28.660 20.901

Additional Financial
Information
Revenue from Barter 0.841 0.855 0.800 0.829 3.325
% of Revenues 18% 13% 9% 5% 9%
Sales and Marketing
related to NBC 3.106 4.466 4.605 5.288 17.465
EBITDA (14.134)(12.489)(17.788)(16.355)(60.766)
EBITDA - excluding NBC (11.028) (8.023)(13.183)(11.067)(43.301)

Balance Sheet and Other
Highlights
Cash & Restricted
Cash (in millions) 100.52 85.28 62.01 107.50
Average monthly pageview
(in 000)(a) 87 99 113 133
Revenues/average
quarterly PV(a) $ 18.30 $ 21.60 $ 25.54 $ 41.76
Member & Member
equivalents (mill)(a) 1.555 1.998 2.688 4.198
Subscriptions (millions)(a) 7.7 8.5 11.4 10.9
Number of Community Hosts
(000))(a) 1.34 1.61 1.69 2.15


Mar-00 Jun-00 Sep-00 Dec-00 FY 00

Revenue 18.104 19.392 20.191 18.665 76.352
Growth q-q 8% 7% 4% -8%
Growth Y/y 278% 202% 133% 12% 109%

Cost of Revenues 6.619 6.992 7.196 6.789 27.596
Gross Profit 11.485 12.400 12.995 11.876 48.756
Gross Margin 63% 64% 64% 64% 64%

Product Development &
Technology 1.499 2.059 2.217 1.956 7.731
% of Revenues 8% 11% 11% 10% 10%
Sales and Marketing 15.912 13.806 12.930 11.450 54.098
% of Revenues 88% 71% 64% 61% 71%
General and Administrative 6.608 6.456 4.896 4.674 22.634
% of Revenues 37% 33% 24% 25% 30%
Depreciation and
Amortization 11.468 11.291 10.767 4.155 37.681
% of Revenues 63% 58% 53% 22% 49%
Impairment of Goodwill 98.056 98.056
486% 128%
Total Operating Expenses 35.487 33.612 128.866 22.235 220.200
% of Revenues 196% 173% 638% 119% 288%

Loss from Operations (24.002)(21.212)(115.871)(10.359)(171.444)

Interest Income
(Expense) & Other 1.558 1.322 1.315 1.066 5.261
Other Income (Expense) 0.162 (8.117) (4.700)(0.245) (12.900)
Loss from unconsolidated JV (0.115)(0.307) (0.422)
Net loss from continuing
operations (22.282)(28.007)(119.371)(9.845)(179.505)

Discontinued Operations (2.885) (9.251) 0.409 (0.195) (11.922)
Preferred Dividend -
Net Loss Attributed to
Common (25.167)(37.258)(118.962)(10.040)(191.427)

EPS from continuing
operations - excluding
impairment of goodwill
and investment writedowns (0.75) (0.67) (0.55) (0.32) (2.29)

EPS $(0.85) $(1.25) $(4.00)$(0.338) $(6.45)
Shares out 29.630 29.691 29.704 29.707 29.683

Additional Financial
Information
Revenue from Barter 0.808 0.903 0.965 0.900 3.576
% of Revenues 4% 5% 5% 5% 5%
Sales and Marketing
related to NBC 3.292 2.815 0.640 0.640 7.387
EBITDA (12.534) (9.921) (7.048)(6.204) (35.707)
EBITDA - excluding NBC (9.242) (7.106) (6.408)(5.564) (28.320)

Balance Sheet and
Other Highlights
Cash & Restricted Cash
(in millions) 93.22 77.76 67.05 58.21
Average monthly pageview
(in 000)(a) 149 166 204 214
Revenues/average quarterly
PV(a) $40.47 $38.94 $33.07 $29.07
Member & Member equivalents
(mill)(a) 4.942 5.287 5.738 5.998
Subscriptions (millions)(a) 11.9 15.4 11.4 14.2
Number of Community Hosts
(000)(a) 2.08 2.24 2.34 2.34

[fastlove]

was hält ihr von den zahlen???
Ist IVIL ein Kauf???