Pam Parker's Clickz article, FindWhat Blames Low Growth on Quality Control, takes a look at FindWhat's recently announced Q4 2004 numbers and their expectations for 2005.
The company posted net income of $4.7 million for Q4 on revenues of $58.7 million, resulting in per-share profit of $0.15. Full-year revenues came in at $169.5 million, for a profit of $17 million, or $0.60 a share.
We intentionally removed during Q4 certain traffic sources that would have generated $70,000 of revenue per day," said Craig Pisaris-Henderson, chairman and CEO of FindWhat.com. "Our focus is to deliver traffic that converts."
As I post this item (11:15 AM), shares of FindWhat are currently trading down 21% at $10.56.
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