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TechTarget, Inc. (NASDAQ: TTGT) today announced that it is delaying its earnings release and investor conference call previously scheduled for 4:30 p.m. (ET) today. The Company is delaying its release of fourth quarter and 2008 financial results in order to finalize its review of the period over which it has historically recognized revenue from its webcast offerings.
As part of the year-end audit process, the Company has concluded that its methodology for determining the timing of recognizing webcast revenues was improper. The Company had been recognizing the majority of the revenue in the month in which the webcast occurred. The Company has concluded that the webcast revenues should have been recognized ratably over the period in which the webcasts were available on the websites of the Company and its partners, and is changing its revenue recognition policy accordingly. This accounting policy change does not increase or decrease the total amount of revenues to be recognized for any given contract. The policy change only affects how much of the total contract revenue is recognized in a particular month. Preliminary analysis indicates that this change in recognizing webcast revenues does not have a material effect on revenue or adjusted EBITDA for the years 2008 or 2007, although the Company expects revenue may shift between quarters. The Company is working to determine whether it is necessary to restate its financial statements for any prior period as a result of changes to its revenue recognition policies. It is estimated that this process will take approximately 90 days.Estimated Fourth Quarter and 2008 Results
It is important to note that the following amounts are estimated results for the fourth quarter and 2008, and may change as a result of the Company’s continued evaluation of the timing of its revenue recognition as described above, or otherwise as we complete our 2008 audit.
Estimated revenues for the fourth quarter of 2008 are $25.1 million. Estimated online revenues are $18.1 million. Estimated event revenues are $6.0 million. Estimated print revenues are $1.0 million.
In December 2008, TechTarget incurred a one time restructuring charge of $1.4 million related to a reduction in workforce of 76 employees, the exiting of certain office space and the closure of its two print publications. Estimated adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization, as adjusted for stock-based compensation and excluding the restructuring charge) for the fourth quarter of 2008 was $4.6 million.
Total estimated revenues for 2008 are $103.5 million. Estimated online revenues for 2008 are $76.4 million, and estimated adjusted EBITDA, excluding the fourth quarter restructuring charge, is $20.2 million.
Recent Company Highlights:
7th consecutive year of positive adjusted EBITDA and 5th consecutive year of being cash flow positive.
Online revenues from the 12 largest IT vendors in the market grew by approximately 40% in Q4.
The Q4 renewal rate for the Company’s 100 largest accounts was 94%
The Company continues to have a very strong balance sheet. Cash balance on December 31, 2008 was $69.6 million with total debt of $3 million.
Acquired The Brian Madden Company, the leading independent, website and conference to address the needs of the leading users of desktop and application virtualization technology.
Launched chúng tôi to address the needs of IT decision makers who are embarking on desktop and application virtualization projects.
Launched chúng tôi to provide senior IT leadership with strategic direction on managing information systems to improve compliance processes and results and to reduce the costs and complexity of supporting business requirements related to government and industry regulations.
“We recently went through our 2009 budget process. We had two main objectives. The first is to remain profitable with adjusted EBITDA margins in the range of 15% to 20%. The second is to aggressively invest during the downturn to further our lead,” said Strakosch.Areas of Investment
The Company launched about a dozen new websites in 2008 and plans to launch an additional 6 to 10 new websites in 2009.
Continue to invest in sales and product initiatives with the largest IT vendors in the market. Our online revenues grew by approximately 40% from the 12 largest vendors in the IT market in 2008. As an online leader in the IT market, the Company benefits from the continued shift of budgets from offline to online at these accounts.
International revenue was approximately only 4% of our business in 2008 and was one of the fastest growing areas of the Company. The Company is in the beginning stages of migrating from a partner model to a direct model internationally. The three geographies where the Company will go direct first are the United Kingdom, India and China.Financial Guidance for the First Quarter of 2009
In the first quarter of 2009, the Company expects total revenues to be within the range of $17 million to $18 million and adjusted EBITDA to be within the range of negative $700,000 to positive $200,000.Non-GAAP Financial Measures
This press release include a discussion of adjusted EBITDA, which is a non-GAAP financial measures which is provided as a complement to results provided in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The term “adjusted EBITDA” refers to a financial measure that we define as earnings before net interest, income taxes, depreciation, and amortization, as further adjusted for stock-based compensation and to exclude restructuring charges. This Non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. In addition, our definition of adjusted EBITDA may not be comparable to the definitions as reported by other companies. We believe adjusted EBITDA is relevant and useful information because it provides us and investors with additional measurements to compare the Company’s operating performance. This measure is part of our internal management reporting and planning process and are primary measures used by our management to evaluate the operating performance of our business, as well as potential acquisitions. The components of adjusted EBITDA include the key revenue and expense items for which our operating managers are responsible and upon which we evaluate their performance. In the case of senior management, adjusted EBITDA is used as the principal financial metric in their annual incentive compensation program. Adjusted EBITDA is also used for planning purposes and in presentations to our board of directors. Furthermore, we intend to provide this non-GAAP financial measure as part of our future earnings discussions and, therefore, the inclusion of this non-GAAP financial measures will provide consistency in our financial reporting.Forward Looking Statements
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SiteGround Crawl Delay
By default, SiteGround servers apply 10 seconds of crawl delay for all user agents including Google, Bing, etc. Y can see the crawl delay line appears in chúng tôi file when you open the file in browser.User-agent: * Disallow: Crawl-delay: 10
Crawl Delay Added by SiteGroundUpload Manual chúng tôi File with Entries
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Open a plain text processing app like TextEdit or Notepad on your computer.
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If you want to reduce the crawl delay for some reason, the minimum value can be set as 1. The below directive will overwrite the default 10 seconds delay to 1 second.User-agent: * Crawl-delay: 1
Save the file as plain text file with the name as robots.txt.
Login to your SiteGround hosting account and go to “Site Tools” section for the site that you want to remove the crawl delay.
Select your chúng tôi text file and upload it on your server.
Crawl Delay Removed from robots.txt
As mentioned, sometimes you may see the crawl delay is dynamically inserted in your existing chúng tôi file. In this case, download your current file as a backup. Now, delete the file from File Manager and then re-upload the backup file.Enable NGINX Direct Delivery
Your chúng tôi file will be cached since it is a static file. I have to turn off NGINX Direct Delivery and turn on again in SiteGround account to see the correct chúng tôi file in browser. Here is how to disable/enable static caching and check if that can show correct chúng tôi file.
Login to your SiteGround hosting account.
Under “NGINX Direct Delivery” tab, disable or enable the primary and all subdomain items.
Note: If you are using Cloudflare or third-party CDN/caching, make sure to purge the chúng tôi file URL to see the latest changes. WordPress users can clear the cache from admin panel if you are using SG Optimizer plugin.Support May Not Help
When I noticed the crawl delay in chúng tôi file all of sudden, I contacted the support through chat. The guy was saying SiteGround does not add any entries in chúng tôi which is correct only if you have custom file with existing entries. He raised a ticket after I insisted him and the response confirmed SiteGround sets a crawl delay from server side. But it was also a typical copy paste response with a link to SiteGround KB article without explaining why it was added on a site hosted on SiteGround for the past 7 years with custom chúng tôi file.
SiteGround Support ResponseFinal Words
Crawl delay is a good feature to stop bots frequently accessing your server, especially bad bots. However, it does not make sense to apply automatically even on Cloud VPS hosting where sufficient server resources are available or can be auto-scaled. I hope this article helps you to understand if you are breaking your head with crawl delay added in chúng tôi file in your SiteGround sites.
HP’s effort to re-invigorate its products and its business continues to face multiple challenges. HP reported its third quarter fiscal 2012 earnings late Wednesday, including a massive $8.9 billion dollar net earnings loss.
For the quarter, HP reported net revenue of $29.7 billion, for a 5 percent year-over-year decline. HP’s decline is due to a number of factors, including a challenging macro-economic climate and a slowing PC business. Despite the challenges, CEO Meg Whitman pledged during the company’s earnings call that she is still on track to improving her company’s fortunes.
“Make no mistake about it, we’re still in the early stages of a turnaround,” Whitman said. “There will be challenges ahead that could create some variability in performance, but I’m confident in our ability to work through them and get to where we want to be.”
HP’s revenue decline was actually deeper in the third quarter than it was in the second quarter of this year, when HP reported a 3 percent year-over-year decline in revenue.
“When you look at our performance during the quarter, there were things that we did well, and there were things that we could have done better,” Whitman said.
One particular area of weakness is HP’s Enterprise Services (ES) business. Within that unit, Enterprise Servers, Storage and Networking reported revenue of $5.1 billion, for a 4 percent year-over-year decline.Itanium Impact
On a more negative note, HP’s Business Critical Systems (BCS) revenue declined 16 percent year-over-year.
“BCS performance continued to be impacted by Itanium revenue decline, even with the first ruling in the Oracle Itanium case going in our favor,” HP CFO, Catherine Lesjak said during the earnings call.
HP and Oracle have been locked in a legal battle over support for HP’s Itanium BCS systems. Oracle publicly announced in March 2011 that it was abandoning HP’s Itanium server. HP responded by demanding that Oracle continue to support the platform. In a legal ruling the first week of August, the court ruled in HP’s favor, though Oracle is appealing the ruling.PC Declines
HP is also being negatively impacted by the continued contraction of the PC market. HP’s Personal Systems Group (PSG) revenue was down 10 percent year over year to $8.6 billion, with desktop units down 6 percent and notebook units down 12 percent.
Whitman is optimistic about a turnaround for PSG, with a new line of PCs and tablets set for a fall release. HP isn’t the only PC vendor seeing a decline. Dell is also seeing slumping PC sales, reporting a 22 percent decline in its overall consumer business during the second quarter of 2012.
The plan to improve HP’s financial performance is a complicated one, involving both short and long-term effort.
“We have to focus on the short term, and we have to focus on the long term,” Whitman said. Because if we don’t focus on the long term, we will constantly be behind, but if we don’t fix our short-term operations, we won’t have the money to invest in the long term. So we have to do both, and it’s a balancing act.”
Sean Michael Kerner is a senior editor at chúng tôi the news service of the IT Business Edge Network, the network for technology professionals Follow him on Twitter @TechJournalist.
Today at the SiriusDecisions Summit, purchase intent-driven marketing and sales services company TechTarget, Inc. (Nasdaq: TTGT) announced the latest release of IT Deal Alert Priority EngineTM, its SaaS-based purchase intent insight platform that provides direct, real-time access to ranked accounts and named prospects actively researching enterprise technology purchases in specific markets. The new release includes the launch of Automated Target Profile Delivery, which allows marketing teams to set up multiple ideal customer profiles (ICPs) within Priority Engine and automatically deliver in-depth purchase intent intelligence and new prospects weekly directly into their CRM and Marketing Automation platforms.
Already the leading provider of real purchase intent insight for technology marketing and sales teams, TechTarget is now making it easier than ever for marketing and sales teams to integrate this data directly into their workflows at scale to realize more ROI faster.
These new enhancements allow marketing teams to drive superior marketing and sales activation and ROI by:
Fueling the martech stack with active prospects and accounts aligned directly to Target Profiles
Easily managing multiple profiles and personae for more effective segmentation and nurturing
Supporting multi-tiered Account-Based Marketing (ABM) initiatives
Enabling streamlined prospect distribution to different stakeholders within the sales organization or channel partners customized by each sales rep’s territory of prioritized active accounts
“In just 5 months of using Priority Engine, we’ve seen these contacts and accounts generate about $1M in net new pipeline which represents 20X ROI on our investment,” said James Lomonaco, senior director, demand generation and marketing operations, Pyramid Analytics. “This 20x pipeline ROI is remarkable by any measure, and when you factor in the very low effort and couple that with an efficient cost per active contact sourced from Priority Engine, the value delivered thus far makes this a powerful marketing tool.”
Unlike similar offerings, Priority Engine provides far more in-depth views of the purchase intent and topical interests of accounts and individuals. These views are made possible by the depth of content it provides across its extensive network of more than 140 technology-specific websites and over 10,000 topic categories. This content is specifically designed to aid enterprise technology buyers in making real purchase decisions. TechTarget helps marketing and sales teams understand behavior and audience activity in ways that are not available from other methods and broadens total addressable market to include more real accounts and prospects who are actively researching solutions. Automated Target Profile Delivery allows marketers to more efficiently leverage this insight for very real gains.
TechTarget will be featuring its industry-leading portfolio of purchase intent-driven solutions at SiriusDecisions Summit (Booth 435) in Las Vegas May 16-18, 2023.About TechTarget
TechTarget (Nasdaq: TTGT) is the global leader in purchase intent-driven marketing and sales services that deliver business impact for enterprise technology companies. By creating abundant, high-quality editorial content across more than 140 highly targeted technology-specific websites, TechTarget attracts and nurtures communities of technology buyers researching their companies’ information technology needs. By understanding these buyers’ content consumption behaviors, TechTarget creates the purchase intent insights that fuel efficient and effective marketing and sales activities for clients around the world.
TechTarget has offices in Beijing, Boston, London, Munich, Paris, San Francisco, Singapore and Sydney. For more information, visit chúng tôi and follow us on Twitter @TechTarget.
(C) 2023 TechTarget, Inc. All rights reserved. TechTarget and the TechTarget logo are registered trademarks and IT Deal Alert and Priority Engine are trademarks of TechTarget. All other trademarks are the property of their respective owners.
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Investors and analysts will have an opportunity to ask Tim Cook and company questions during the earnings call and we’ll be listening to bring you coverage starting at 5pm EST/ 2pm PST.
–Earnings report is out!
-Hold music has begun… you can listen along, but we’ll include the highlights here.
-Lots of hold music, 3 minute warning, no U2 music yet.
-Hopefully no one is using iOS 8.0.1 for this call…
-And here we go…
-Tim Cook is up first
-Tim recapping iPhone 6 and 6 Plus launches: “best we’ve ever created, customers absolutely love them”
-32 countires with iPhone 6 so far, 69 more before the end of October
-115 countries by the end of 2014
-Apple Pay is live today, as you may have heard
-Apple Watch still coming “early calendar 2023” with more details coming later
-Quick mentions of iPad Air 2, iMac with Retina 5K, iOS 8 and Yosemite
-Cook says Apple exceeded its own expectations this quarter, now going over the numbers that were released earlier
-Mac now has highest PC market share since 1995
-20 acquisitions this year, 7 in the September quarter
–Luca Maestri talking more numbers, breaking down product sales as released earlier today
-Chinese search engine Baidu is now using iPhones in their office, 20,000 employees and 30 in-house apps
-That 100% customer satisfaction rate for iPad mini 2 is back, and 55% of people polled say they plan to buy an iPad as their next tablet
-All-time record billings in iTunes thanks to the App Store
-Registered developers up 39% over last year
-Final remarks now, covering a few reporting changes for Q1 2023
-Time for some questions
-Apple Pay question – how does Apple see this as a business model? A way to sell hardware products or more of its own product?
-Tim says it’s about creating a better customer experience and more secure payment system; dislikes companies monetizing customer payment data
-“The most customer-centric mobile payment system” – can’t wait to add more retailers and banks
-Question about iPhone ramping, Tim says fastest in history but demand is outstripping supply, no indication of when that will balance
-Tim notes again that demand is outweighing supply on iPhone 6, says “we’ve done a pretty good job on that,” but won’t say there’s no issue, calls it “a good problem to have.”
-Every answer to every question so far has essentially ended with “we can’t make enough iPhone 6 and 6 Plus units yet”
-Tim talking iPhone upgrades and the opportunities provided by customers upgrading at different times of the year, switching from Android, and buying their first iPhones. Also once again points out constrained supply.
-Question about iPhone 6/6 Plus sales split, Tim won’t give any specifics but says that Apple is selling everything they make; says it’s likely that a geographic difference will appear in popularity of certain models, but nothing solid yet
-68 million iPad sales in 2014, down YOY, Tim calls it “a speed bump, not a huge issue,” but wants to improve growth
-Tim says he is fine with Apple products cannibalizing one another
-Question about why Apple Watch is grouped into “other” category in new reporting groups, along with iPods and others
-Tim says it doesn’t indicate expectations for Apple Watch sales, categories were based on current revenue
-Question about any new product categories we don’t know about. Tim says “obviously we are working on other things as well,” won’t get any more specific.
-Question about China numbers, Tim says things are looking just fine, very optimistic about the future
-That’s all folks! You can catch a replay of the call on Apple’s earnings call podcast a little later.
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Apple reports its fiscal Q3 (calendar Q2) earnings tomorrow, and we already know the key numbers analysts are expecting to hear in terms of iPhone sales and total revenue. The Wall Street consensus is that the company will report iPhone sales up 2.4% year-on-year, with earnings somewhere in the middle of Apple’s guidance.
Business Insider cited a couple of analysts pointing to the increasingly important Services business.
“Services is an increasingly important piece of the AAPL story and a major driver of gross margins,” RBC analyst Amit Daryanani wrote in a recent note. “The segment currently accounts for ~15% of revenues and is on track to become a ~$50B business by 2023.”
Morgan Stanley’s Katy Huberty thinks Services may have grown as much as 32% year-on-year, a number significantly higher than the consensus.
On China, supply chain rumors seem to point to slowing growth, with analysts waiting to find out whether Apple really is having as much trouble from flagship Android smartphones as those reports suggest.
But one number that may not reveal too much is Apple’s guidance for the September quarter. Because it only includes around a week of new iPhone sales, and because the LCD model is rumored to have been delayed into October, forecast revenue may not be the best indicator of Apple’s expectations from the 2023 iPhone line-up.
“While all eyes will be on Apple’s will FQ4 guidance, we note that historically, revenue guidance for FY Q4 has *not* been a helpful predictor of the strength of the forthcoming cycle,” Bernstein analyst Toni Sacconaghi wrote.
Some of the things analysts would like to hear more about from Apple include …Augmented reality
There has been long-standing speculation about Apple making some kind of smart glasses product, but some analysts think this isn’t key.Privacy
As well as a core value for Apple, the steps it takes to protect customer data are believed to have increasing financial value in light of the Facebook scandal and the media attention that has generated.US trade war
Cook’s attempts to dissuade the Trump administration from starting a trade war with China have not been notably successful, and analysts will want to hear Apple’s take on the likely impact, especially on margins or product prices.
“If there were any incremental tariffs invoked, we believe Apple would pass that cost to consumers and our view is any price increase is not a positive for demand,” Citi’s Suva wrote.Siri
Siri is widely considered to be the dumbest of the main intelligent assistants, in significant part due to Apple’s strong stance on privacy, minimizing its use of customer data. But does Apple have any plans to play catch-up?
“While we still see Apple playing catch up with Amazon’s Alexa and Google’s digital assistant, we are encouraged by the April 2023 addition of John Giannandrea (Google’s former chief of search and AI) to bolster Siri,” Forte, the Davidson analyst, wrote.iPhone replacement rates
Will Apple reveal any numbers on iPhone upgrade cycles? The average time consumers keep an iPhone is now some 2.5 years, with some speculating that it could climb even higher.
We’ll of course bring you full coverage of both the numbers and the earnings call tomorrow.
Check out 9to5Mac on YouTube for more Apple news:
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