Geeknet (GKNT) - Q2 Ending June 30 Out Wed Aug 3. Langone Must Deliver Profitability(.)
August 02, 2011
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Geeknet (GKNT) - Q2 Ending June 30 Out Wednesday Aug 3 - Money For Nothing?
Geeknet reports numbers tomorrow at 14:00 EST. Below are GKNTs numbers as reported for Q2 ending June 30, 2010 and below that Q1 ending March 30, 2011 to put tomorrow's numbers in perspective. The key takeaways are that Thinkgeek's gross margins have deteriorated from 16.73% to 10.33% during these two reporting periods. The Media Division's margins have increased from 61.5% to 71.4%. But the key question with the Media Division is what happened to and is happening with SourceForge and Slashdot for that matter? Simply incomprehensible.
Thinkgeek should again report significant revenue growth tomorrow continuing to represent a superior acquisition candidate for AMZN, BBY et al given they are the only one in this space while sporting equally impressive growth, branding, and recently substantive proprietary products e.g. iCade. That being said, Langone's team and partners need to deliver profitability tomorrow (.) viz a viz economies of scale which should now be fully reflected in tomorrows numbers, in addition, to the appropriate monetization of the media division in perspective with SourceForge's 5M daily downloads and Slashdot's 38.5M page views/mo. Source: Geeknet.
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Geeknet Statistics Revenue (ttm) $99.86M Cash (mrq) $25.62M
SEC Form 10-Q for the Q2 period ending June 30, 2010
Cash: $27.99M (incl short-term investments)
Revenues (3 mo): (in thousands)
Media: $4,751 (31.03%)
E-commerce (Thinkgeek): $10,558 (68.97%)
Total: $15,309
Media Cost of Revenue: $1,831 (38.54%) (61.46% GM)
E-commerce cost of Revenue: $8,792 (83.27%) (16.73% GM)
Total Cost of Revenue: $10,623
Gross Margin: $4,686 (30.61%) (blended)
Net Loss: (2,506)
SEC Form 10-Q for the Q2 period ending March 31, 2011
Cash: $25.62M (incl short-term investments)
Revenues (3 mo): (in thousands)
Media: $4,711 (23.65%)
E-commerce (Thinkgeek): $15,205 (76.35%)
Total: $19,916
Media Cost of Revenue: $1,346 (28.57%) (71.43% GM)
E-commerce cost of Revenue: $13,634 (89.67%) (10.33% GM)
Total Cost of Revenue: $14,980
Gross Margin: $ 4,936 (24.78%) (blended)
Net Loss: (2,386)
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ttm = Trailing Twelve Months (as of Mar 31, 2011)
mrq = Most Recent Quarter (as of Mar 31, 2011)
Source: Yahoo! Finance
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