Online publishing company Cyberplex reported its financial results for the fiscal year and fourth quarter-ended December 31, 2011 last week. The company reported a total revenue for the year was $55.5 million a decrease from the $106.9 million recorded in 2010, and the adjusted EBITDA for the year was $1.1 million as compared to $4.7 million for the prior year. The company had to pay a fine of $4.8 million to Yahoo! due to some bad quality traffic through a sub-company Tsavo Media back in February of this year which has had an impact on their quarterly earnings.
Cyberplex Q4 2011 Result Highlights:
- The Company generated revenue of $9.9 million, a 40% decline from the $16.6 million recorded in the previous quarter
- Non-Tsavo divisions produced their second consecutive quarter of sequential growth, increasing revenues in the fourth quarter by 29%.
- Net loss for the quarter was $4.6 million compared to a net income of $1.0 million in the previous quarter
- Cash flow from operations generated $5.0 million in cash for the twelve months ended December 31, 2011, as compared to $7.3 million for the same period in 2010
Tsavo Founder Ted Hastings also resigned due to the scandal back in February.