Trading Idea: IBEAM (Nas:IBEM)
TUESDAY, JANUARY 30, 2001 4:31 PM
- BusinessWire
P. SUNNYVALE, Calif., Jan 30, 2001 (BUSINESS:IBEM), the leading global Streaming Media Network (SMN), today reported its financial results for the fourth quarter and year ended December 31, 2000. Revenues for the quarter increased 76% to $9.1 million, compared to $5.2 million in the third quarter of 2000. For the fourth quarter of 2000, the company recorded a net loss of $380.7 million including restructuring and goodwill charges, or $3.22 per share, as compared to a net loss of $36.2 million, or $0.36 per share, for the third quarter of 2000. Excluding non-cash charges (earnings before depreciation and amortization) and restructuring, the company recorded a net loss of $26.0 million, or $0.22 per share in the fourth quarter of 2000, compared to $19.4 million, or $0.19 per share in the third quarter of 2000.
Fourth quarter 2000 results include a non-cash charge of $333.8 million, reflecting a one-time goodwill impairment charge of $310 million and amortization of $23.8 million related to the goodwill and intangible assets associated with the acquisitions of webcasts.com and NextVenue during fiscal 2000. Fourth quarter 2000 results also include a restructuring charge of $12.0 million, which is largely non-cash, reflecting write-down of certain fixed assets. The company plans to incur further restructuring charges in the first quarter of 2001 associated with cost-savings initiatives that will enable the company to move more quickly to profitability, now projected to be the fourth quarter of 2002, a year in advance of the company's prior estimate.
For the year ended December 31, 2000, revenues were $18.1 million, with a net loss of $482.1 million, or $5.03 per share. Excluding non-cash charges and restructuring, the company recorded a net loss of $81.1 million, or $0.85 per share, for the year. Per share results presented for the year assume conversion of the company's preferred stock on January 1, 2000 or at the date of issuance, if later.
iBEAM's acquisition of NextVenue, a leader in streaming media solutions for the financial services market, announced in late July, closed October 3, and is included in iBEAM's fourth quarter results.
Peter Desnoes, iBEAM's Chairman and CEO, commented, "I am extremely pleased with our continued success in extending our leadership position in streaming media during the quarter, exemplified by our ability to execute strong growth in key metrics of customer acquisition, revenue per customer, networks reached, and traffic delivered. With the addition of NextVenue, our enterprise business has grown dramatically. During the fourth quarter, nearly two-thirds of our revenue was generated from enterprise customers using iBEAM services and applications to communicate with streaming media for purposes such as training and development, corporate communications, sales and marketing, and web-based seminars. Overall growth also benefited from the entertainment segment of our business as it grew by more than 50%, and was responsible for the majority of a record 258 million megabytes of traffic delivered over our network in the quarter."
In the fourth quarter, iBEAM's customer base grew to more than 425 streaming media content providers, a 42% increase over the 300 reported as of the end of the third quarter. Customers using iBEAM's network to deliver their entertainment content include MTVi, RollingStone.com and LAUNCH.com. Enterprise customers using iBEAM's services and applications to effectively communicate with streaming media include Bristol-Myers Squibb, IBM, Accenture (formerly Andersen Consulting), Merrill Lynch and Goldman Sachs.
During the quarter, iBEAM continued rapid deployment of its hybrid fiber and satellite network in order to deliver high-quality streaming media as close to the end user as possible. iBEAM has signed agreements with 190 network partners including such notables as America Online, Inc., Excite@Home, and the fourth quarter addition of BellSouth. This reflects 19% growth over the 160 networks reported as of the end of the third quarter.
"We continue to introduce new applications and services that allow our customers to monetize their content and complement our suite of end-to-end streaming media solutions," remarked Desnoes. "Our recently announced Syndication Manager(TM) is the first fully-integrated Internet-based application that gives media and enterprise companies the power to set specific, business-based usage rules to control the distribution of their streaming media assets to multiple websites, and collect detailed usage data on their content. Our On-Target(TM) streaming ad insertion and On-Guard(TM) secure digital rights management offerings are meeting outstanding acceptance by our customer base. We have now served over 25 million streaming ads and provided more than 2.6 million secure downloads for our customers."
Geoff Ribar, chief financial officer of iBEAM, said, "Our core revenue, excluding consulting associated with our international joint ventures, grew nearly 87% from the third quarter, resulting from both organic growth and the addition of NextVenue. Expense growth experienced in the fourth quarter was anticipated as we added NextVenue operational costs and increased our promotional and branding efforts. We have largely completed the most capital intensive fixed-cost component of our network, and are now beginning to make a strong push towards profitability."
"In the fourth quarter, we incurred a restructuring charge primarily associated with the write down of certain fixed assets," Ribar continued. "During the first quarter of 2001, we anticipate incurring an additional restructuring charge of between $15 million and $20 million to maximize network efficiency based on our newly combined operations. We have also identified a substantial amount of discretionary spending that has been removed from our operating plan, which will dramatically improve our EBITDA moving forward."
"Based upon these actions and our expectation of continued strong top line growth, we now believe we will turn EBITDA-positive in the fourth quarter of 2002, and have sufficient funding for operations through fiscal 2001. We have substantially reduced our cash need for a fully funded business model to between $50 million and $60 million, and reaffirm our expectation that we will turn gross margin positive for the third quarter of 2001," Ribar concluded.
The fourth quarter 2000 goodwill impairment charge was taken following an impairment review triggered by the change in value of the company's stock since the date the shares in each of the acquisitions were valued.
iBEAM will hold a conference call to discuss these results on Tuesday, January 30, 2000 at 5:00 PM ET. The dial-in number is 913-981-4900. The replay number is 719-457-0820 (available 1/30-2/6). The confirmation code is 774087. The call will also be available via live webcast and subsequent replay on the company's website. To listen via this alternative, go to the investor information page at www.ibeam.com for complete details just prior to the call.
About iBEAM Broadcasting(R) Corp.
iBEAM Broadcasting(R) Corp. (Nasdaq:IBEM) offers streaming media distribution, revenue-producing applications, and interactive Webcasting services to major entertainment and enterprise customers. iBEAM is leading the future of streaming media through its focus on customer care and improving its customers' businesses. iBEAM's On-Target(TM) ad insertion technology and Activecast(TM) interactive Webcasting capabilities create value for companies who use streaming media. iBEAM currently delivers over 70 million streams per month across its network of high-performance servers located in more than 190 networks around the world, connected by satellite, and augmented with fiber optic cable. More than 425 innovative companies use iBEAM, including media and entertainment leaders MTVi, Sony Music Entertainment, and LAUNCH.com. iBEAM was founded in 1998. For more information about iBEAM's services, visit www.ibeam.com, or contact the company at 645 Almanor, Suite 100, Sunnyvale, CA 94085, telephone 408-523-1600.
P. iBEAM's Safe Harbor Statement under the Private Securities
Litigation Reform Act of 1995
This press release contains forward-looking statements, including but not limited to statements regarding iBEAM's ability to continue to increase its revenues and expand its customer base, reduce its capital expenditures and other operating expenses, improve its gross margins and reduce its cash consumption, iBEAM's expected target dates for turning EBITDA-positive and operating margin-positive, the projected sufficiency of iBEAM's cash resources, the deployment of iBEAM's streaming media services to the market, the success of recent acquisitions and joint ventures, market position, customer growth and adoption of iBEAM's services and products including newly introduced services and products. Actual results may differ materially from those anticipated in any forward-looking statement as a result of certain risks and uncertainties, including, without limitation, the early stage of iBEAM's operating history and the industry for Internet broadcast services, our inability to predict future demand for our services from new and existing customers, the impact of any future decline in the growth and valuation of entertainment and technology-oriented companies and the resulting impact on their capital spending, iBEAM's ability to reduce operating expenses and achieve additional cost efficiencies, iBEAM's ability to build its network to the edge of the Internet, iBEAM's ability to manage its expansion and raise additional capital and the complexity of iBEAM's broadcast network, iBEAM's ability to integrate new acquisitions and new joint ventures, the ability to add additional customers, iBEAM's ability to increase the size of its network and operate it without interruptions, and the impact of competition. For other risks and uncertainties applicable to iBEAM's business, investors are encouraged to refer to iBEAM's Form 10-Q for the period ended September 30, 2000 filed with the Securities and Exchange Commission.
iBEAM BROADCASTING CORPORATION
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts) (unaudited)
12 Months
Three months ended Ended
Dec. 31, Sept. 30, June 30, March 31, Dec. 31,
2000 2000 2000 2000 2000
Revenue $9,062 $5,160 $3,380 $ 532 $18,134
Operating costs
and expenses:
Cost of revenue 19,350 12,934 10,748 7,130 50,162
Engineering
and development 4,801 4,925 4,755 3,904 18,385
Selling, general
and
administrative 18,799 12,834 12,829 7,076 51,538
Amortization of
goodwill and
intangibles (a) 333,755 9,234 5,287 -- 348,276
Amortization of
stock-based
compensation 2,012 2,951 3,646 4,094 12,703
Restructuring 11,964 -- -- -- 11,964
Total operating
costs and
expenses 390,681 42,878 37,265 22,204 493,028
Loss from
operations (381,619) (37,718) (33,885) (21,672) (474,894)
Interest and
other income,
net 960 1,538 805 317 3,620
Net loss (380,659) (36,180) (33,080) (21,355) (471,274)
Deemed dividend
related to
preferred stock -- -- -- (10,796) (10,796)
Net loss
attributable
to common stock ($380,659) ($36,180) ($33,080) ($32,151) ($482,070)
Net loss per
share
attributable to
common stock
- basic and
diluted ($ 3.22) ($ 0.36) ($ 0.61) ($ 3.04) ($ 6.82)
Weighted average
common shares
outstanding 118,156 101,591 54,625 10,589 70,698
Pro forma:
Pro forma net loss
per share
attributable to
common
stock (b) ($ 3.22)($ 0.36) ($ 0.36) ($ 0.43) ($ 5.03)
Net loss
attributable
to common
stock ($380,659) ($36,180) ($33,080) ($32,151) ($482,070)
Less:
Depreciation and
amortization 6,921 4,604 3,502 2,158 17,185
Amortization of
goodwill
and
intangibles (a) 333,755 9,234 5,287 -- 348,276
Amortization of
stock-based
compensation 2,012 2,951 3,646 4,094 12,703
Restructuring 11,964 -- -- -- 11,964
Deemed dividend
related to
preferred
stock -- -- -- 10,796 10,796
Pro forma net
loss ($ 26,007) ($19,391) ($20,645) ($15,103) ($ 81,146)
Pro forma net
loss per share
excluding
non-cash
charges (b) ($ 0.22) ($ 0.19) ($ 0.23) ($ 0.20) ($ 0.85)
Pro forma
weighted
average shares
outstanding (b) 118,156 101,591 90,816 74,860 95,797
§ (a) Includes $310 million of impairment charges, as required by
FAS 121, due to the change in the market value of the company.
§ (b) Assumes the conversion of preferred stock on January 1, 2000
or at the date of original issuance, if later.
iBEAM BROADCASTING CORPORATION
Condensed Consolidated Balance Sheets
(unaudited, in thousands)
December 31, December 31,
ASSETS 2000 1999
Current assets:
Cash and investments $ 71,597 $ 29,840
Accounts receivable 7,284 70
Prepaid expenses and
other current assets 8,067 796
Total current assets 86,948 30,706
Property and equipment, net 67,578 12,912
Goodwill and other
intangible assets, net 51,210 --
Other assets 5,181 1,123
$210,917 $ 44,741
LIABILITIES, REDEEMABLE CONVERTIBLE
PREFERRED STOCK
AND STOCKHOLDERS' EQUITY (DEFICIT)
Current liabilities:
Accounts payable and
accrued liabilities $ 18,188 $ 3,934
Deferred revenue 489 448
Restructure reserve 4,128 --
Current portion of
capital lease obligations 8,727 1,573
Total current liabilities 31,532 5,955
Capital lease obligations,
net of current portion 15,989 3,627
Total liabilities 47,521 9,582
Redeemable convertible
preferred stock -- 61,192
Stockholders' equity
(deficit) 163,396 (26,033)
$210,917 $ 44,741
CONTACT: iBEAM Broadcasting Corporation
Rick Gaisser, 408/830-3548
ir@ibeam.com
URL: http://www.businesswire.com
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Copyright (C) 2001 Business Wire. All rights reserved.
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS
INTERNET
SOFTWARE
EARNINGS
Auf Grund der Zahlen fällt die Aktie nachbörslich um 21,74% auf 2,25$, wo sie auf Tagestief schließt.
Hoffe Ihr habt den Absprung geschafft!
Grüsse Auhof
Mit dem Rest bleib ich drin.
Mehr zu den Zahlen & Aussichten heute Abend.
Fluffy
Scav
Verdammt, keine Ahnung. Die Zahlen wurden schon am 16.3. gemeldet, das kann´s nicht sein. Insiderverkäufe sind´s auch nicht. Es gab auch (lt. www.Nasdaq.com ) keine Herabstufungen - im Gegenteil.
Ich mach mich noch mal schlau.
Fluffy
(dem das nach dem Sunburst-Abenteuer gestern gerade noch gefehlt hat)
stockholders - basic and diluted 1.Quartal $(3.04) 2.Quartal ($0.61) 3.Quartal $(0.36) 4.Quartal $(3.22)
We have incurred losses from operations since inception and have an accumulated deficit of approximately $516.3 million as of December 31, 2000. We have completed several rounds of private equity financing and completed our IPO in May 2000, which raised $115.5 million, net of expenses. For the year ended December 31, 2000, we incurred a loss from operations of approximately $474.9 million, including a $310 million charge for impairment of goodwill, and negative cash flows from operations of approximately $96.1 million. Management expects operating losses and negative cash flows to continue for the foreseeable future and anticipates that losses will continue because of costs and expenses related to brand development, marketing and other promotional activities, continued expansion of our Broadcast Network, expansion of product offerings, and development of relationships with other businesses. Our operating plan requires us to raise additional capital to fund our future operations. Certain of these costs are discretionary and could be reduced if working capital decreased significantly. Failure to generate sufficient revenues, raise additional capital or reduce certain discretionary spending could have a material adverse effect on our ability to continue as a going concern and to achieve its intended business objectives.We had operating losses of $30.2 million and $474.9 million for the years ended December 31, 1999 and 2000, respectively, and our accumulated deficit was $516.3 million as of December 31, 2000. Considering that operating expenses are expected to increase in future periods we will need to increase our revenues significantly to achieve profitability.
We have never been profitable. We had operating losses of $30.2 million and $474.9 million in 1999 and 2000, respectively, and our accumulated deficit was $516.3 million as of December 31, 2000. Considering that operating expenses are expected to increase in future periods, we will need to increase our revenue significantly to achieve profitability. In 2000, based on the planned deployment of our Broadcast Network, we incurred capital expenditures of $57.7 million. We may continue to incur increasing operating losses in the future
We intend to raise additional capital in 2001 to fund operations into 2002. However, we may not be able to obtain capital, whether debt or equity, on favorable terms, if at all.
blanc vor http:....dann geht es
Warum bekommt man sowas immer erst hinterher mit, buähhh :-(((.
Fluffy
iBeam hat massive Finanzprobleme & kann keine Gehälter zahlen. Man bat die Börse um Genehmigung, unter dem aktuellen Kurs (21c) neue Aktien ausgeben zu dürfen.
Ich habe mich geirrt was die "News" angingen - der letzte 500% Anstieg ging anscheinend ausschließlich auf das Konto von Zockern.
Nochmals: Meine aufrichtige Entschuldigung an alle, deren Aufmerksamkeit ich auf diesen Titel gelenkt habe.
Nachfolgend die Meldungen:
IBeam Broadcasting Requests Nasdaq Waiver Of Holder OK Rule
SUNNYVALE, Calif. -(Dow Jones)- IBeam Broadcasting Corp. (IBEM) is experiencing a severe cash shortage and has asked the Nasdaq Stock Market to waive shareholder approval of a new financing.
In a press release Friday, IBeam said it requires funds on an urgent basis to meet its payroll and other operating obligations, and it wouldn't be possible to
prepare and file a proxy statement with the Securities and Exchange Commission and hold a shareholders' meeting to approve the investment before iBeam runs out of cash and is forced to discontinue operations.
Under an agreement announced June 25, Williams Communications LLC, Allen & Company Inc. and Lunn iBeam LLC agreed to acquire iBeam preferred stock initially convertible into 240,093,900 shares, or about 65% of the company's shares outstanding after the investment, at a conversion price substantially below the current market value of iBeam's common stock.
The investment may be deemed a change of control of iBeam under Nasdaq Marketplace Rules.
IBeam has retained the investment banking firms of Morgan Stanley and Dresdner Kleinwort Wasserstein to assist in raising financing.
IBeam said the firms found that it is currently impossible for iBeam to raise funds at or above current trading prices.
Copyright (c) 2001 Dow Jones & Company, Inc.
SUNNYVALE, Calif.--(BUSINESS WIRE)--June 29, 2001--iBEAM Broadcasting(R) Corporation (NASDAQ: IBEM) announced today that, pursuant to Rule 4350 (i)(2) of The Nasdaq Stock Market, iBEAM has requested an exception to Nasdaq's shareholder approval requirement for iBEAM's previously announced agreement with a group of investors led by Williams Communications. Under the agreement, Williams Communications, LLC, Allen & Company Incorporated and Lunn iBEAM, LLC will acquire preferred stock of the company initially convertible into 240,093,900 shares, or
approximately 65% after the investment, of iBEAM's outstanding common stock at a conversion price substantially below the current market value of iBEAM's common stock. The number of shares of common stock into which the preferred stock is convertible is subject to adjustment for antidilution protection and standard protections
for dividends, recapitalizations and stock splits. iBEAM(R) currently has outstanding approximately 127,400,000 shares of common stock. Under the terms of this investment, Williams Communications, LLC will purchase 1,800,704 shares of Series A preferred stock for $20 million in cash and $10 million of in-kind services. In addition, Allen & Company Incorporated will purchase 480,188 shares of Series A preferred stock for $8 million in cash, and Lunn iBEAM, LLC will purchase 120,047 shares of Series A preferred stock for $2 million in cash. The proposed investment also contemplates that nominees of Williams Communications will hold four of the nine seats on iBEAM's board of directors. This investment may be deemed a change of control of iBEAM under the Nasdaq Marketplace Rules.
Under Nasdaq Marketplace Rules 4350(i)(1)(B) and 4350(i)(1)(D)(ii), shareholder approval is normally required for investments similar to the one described above. However, iBEAM has requested from Nasdaq an exception to this shareholder approval requirement pursuant to Nasdaq Marketplace Rule 4350(i)(2) and a waiver of the voting rights rules of Nasdaq Marketplace Rule 4351. Rule 4350(i)(2) provides that "exceptions may be made upon application to
Nasdaq when: (A) the delay in securing shareholder approval would seriously jeopardize the financial viability of the enterprise; and (B) reliance by the company on this exception is expressly approved by the Audit Committee or a comparable body of the Board of Directors."
iBEAM has retained the investment banking firms of Morgan Stanley and Dresdner Kleinwort Wasserstein to assist in raising financing, and they have extensively tested the market and have found that it is currently impossible for iBEAM to raise funds at or above current trading prices. iBEAM is currently experiencing a severe cash shortage and requires funds on an urgent basis to meet its payroll and other normal operating obligations. It would not be possible to prepare and file a proxy statement with the Securities and Exchange Commission and hold a shareholders' meeting
to approve the investment before iBEAM runs out of cash and is forced to discontinue operations. For these reasons, iBEAM's Audit Committee has unanimously made a determination that an immediate sale of equity is necessary to preserve
the financial viability of iBEAM's enterprise and has expressly approved iBEAM's reliance on this exception to the shareholder approval requirement and the request for a waiver of the voting rights rules. About iBEAM Broadcasting Corp.
iBEAM Broadcasting(R) Corp. (NASDAQ: IBEM), founded in 1998, is the leading provider of streaming communications solutions. The iBEAM end-to-end solutions for enterprise and media customers include interactive webcasting, streaming advertising insertion, syndication and pay-per-view management, and secure, licensed download and geographical identification applications. iBEAM currently delivers more than 100 million audio and video streams per month across its intelligent distribution network of satellite connected, high-performance servers located in more than 210 networks around the world. More than 460 innovative companies use iBEAM's global services including media leaders, CNBC, MTVi, and LAUNCH.com, and enterprise customers, IBM/Lotus, Bristol-Myers Squibb, and Merrill Lynch. iBEAM is headquartered in Sunnyvale, Calif. Telephone (408) 523-1600. For more information visit www.ibeam.com iBEAM's Safe Harbor Statement under the
Private Securities Litigation Reform Act of 1995
CONTACT: iBEAM Broadcasting Corporation
Rick Gaisser, 408/830-3548 (Investor Relations)
ir@ibeam.com
Anna Caldwell, 408/523-1634 (Public Relations)
acaldwell@ibeam.com
spätestens Ende Mai musste jeder vernünftige Anleger rausgehen,wer keine Stoploss setzt -und seien es mentale-dem geschieht es recht ,wenn ihm das Krokodil Börse den Arm abbeisst.Soviel hat doch inzwischen jeder gelernt-und ich hatte als marcovaldo doch bereits mit den Auszügen aus dem SEC-Bericht gewarnt!
Also nimms nicht so tragisch,das kann jedem passieren,dass sein Wert abschmiert.
Gruss Kicky
Gerüchte gibt´s immer noch, aber jetzt wird halt gezockt...alles oder nicht heisst´s jetzt für iBeam.
Fluffy
gruß und mehr glück beim nächsten tipp
der kl. hobbit
Kicky, Dein "Schwarzer" war bestimmt nur ein "Verklicker" von einem Moderator, ich zumindest habe mich durch Deinen Kommentar nicht beleidigt gefühlt (auch wenn er etwas von ober herab war).
Grüsse
Fluffy
Kicky, Dein "Schwarzer" war bestimmt nur ein "Verklicker" von einem Moderator, ich zumindest habe mich durch Deinen Kommentar nicht beleidigt gefühlt (auch wenn er etwas von oben herab war).
Grüsse
Fluffy
Ibeam Broadcasting (IBEM) is surging 13 cents, or 61.9 percent, to 34 cents after the Sunnyvale, Calif., provider of streaming communications products completed a $40 million funding transaction. The deal is with an investor group made up of Williams Communications (WCG) , Allen & Co., TouchAmerica Inc., Lunn iBEAM LLC. The transaction swaps roughly 2.4 million shares of Ibeam convertible preferred stock for $30 million, while Williams will contribute $10 million worth of services in-kind. The preferred stock is initially convertible into about 240 million Ibeam common shares, roughly 65 percent of the company's outstanding stock. Ibeam also restructured its board and senior management team as part of the deal.
Mannomann Fluffy,der Tagessieger!Hab das übrigens eher tröstend gemeint oben,nicht überheblich,wir sind doch für unser Tun selber verantwortlich
ich werde auch in zukunft deine empfehlungen gerne lesen.
grüße nach kiel