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gnulaw (49.69)

SourceForge (LNUX) Changes Name and Announces Launch of Geeknet, Negative Earnings Surprise



November 04, 2009 – Comments (4) | RELATED TICKERS: GKNT.DL , BBY , IBM

SourceForge, Inc. Changes Its Name to Geeknet, Inc and reports Q3 numbers*.


hmmmm.....Is Scott taking our lead? re: 


Step 3. Do not take LNUX's dominant asset, (NASDAQ:G33K) through an IPO.**


Q: Will the new symbol be (NASDAQ:G33K)? qed...


* Total revenue for the third quarter of 2009 was $10.8 million compared to $11.5 million of revenue for the third quarter of 2008. Net loss for the third quarter of 2009 was $4.5 million or $0.08 per share*** compared to a net loss of $2.7 million or $0.04 per share, for the same period a year ago.

Adjusted EBITDA loss for the third quarter of 2009 was $3.4 million, compared to adjusted EBITDA loss of $1.4 million for the same period a year ago.  


 **SourceForge (LNUX) Scott Kauffman's 5-step Shareholder* Value Creation Process Model 


*** Consensus was <$.03>.

4 Comments – Post Your Own

#1) On November 04, 2009 at 4:54 PM, gnulaw (49.69) wrote:


Why this change makes sense,,, John Hodgman On the Coming Geek Culture

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#2) On November 04, 2009 at 5:12 PM, gnulaw (49.69) wrote:

See SourceForge (LNUX) and the Host-Virus Business Model


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#3) On November 04, 2009 at 8:36 PM, fmahnke (69.33) wrote:


It's obvious that you know much more about this group, which makes me the dumbass, because I own this stock,  It seemed worth a shot, but my take from this afternoon's events are:

- The name change is as much as an attempt to distract us from the numbers as anything, but probably makes sense,

- The fact that they coud be forecasting a loss on an increase in Q4 revenues and headcount reductions just doesn't make sense,

- The media model probably should be dropped, if they could squeeze some profits out of merchandising, they could double

- Scott K, seems like Mr buzzword to me, alot of fancy words with a much sharper focus on strategy than profits,  Like dozens of other CEO I've met or worked for, I donlt think he'll last,

The problem is that I am not a geek and may not be able to appreiciate the subtities of the techo world they compete in, ( or for that matter, who would want to buy an eviltoid and why).

And once in awhile, one of these strategy types turns out to be a true visionary.  I'm hoping to dump this stock and move on with my life, but I curious if you see something I've missed,



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#4) On November 05, 2009 at 1:06 AM, gnulaw (49.69) wrote:

18 layoffs, this was discussed by Patty Morris at appx. 11:30 into the the 11/4 conference call...more to come fmahnke, thanks for your post.

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