Fast Search and Transfer announced their Q3 2007 results on 10/30. Here are some highlights from the announcement, some of which (the net loss, for example) aren’t actually in the company’s press release.
- Revenues of $35.6M, down 16% compared to Q3 2006 revenues of $42.5M
- Operating expenses of $121.2M, up 246% over Q3 2006 operating expenses of $49.2M
- Net loss of $100.4M, up 2200% over the net loss of $4.5M in Q3 2006.
- Cash burn of $57.9M
- They increased guidance for 4Q 07 from $43M to $47M
I’ve not had time to read everything in detail yet, but I’m sure there are lots of one-time restructuring charges in the $121M of operating expense. Fast goes to quite some length to explain why all this is good news. But to me, the numbers are numbers.
As a bit of commentary, I find it a little odd when a company’s earning press release doesn’t include the financial statements. But a lot of people do it. However, I find it quite odd when you press the link to the financial statements (which wasn’t easy to locate) and find something other than, well, the financial statements. In this case, you find a what I’d consider a veritable Q3 07 “brochure” with a few well chosen and well framed financial metrics on the first page, several pages of good news, (carefully) selected metrics and commentary, and a few high-and-to-the-right arrows, boasting 4%, 5%, and even 23% growth rates.
In fact, there’s so much pre-material in the financial statements, that you might get weary wading through it before you get to page 6 and finally find the income statement.
Hey, perhaps that’s the point.
