Website Pros Reports First Quarter 2008 Financial Results | Web.com Group, Inc.
JACKSONVILLE, Fla., May 12, 2008 (PrimeNewswire via COMTEX News Network) -- Website Pros, Inc. (Nasdaq:WSPI), a leading provider of Web and marketing services for small and medium-sized businesses, today announced results for the first quarter ended March 31, 2008.
for the first quarter of 2007.
"The first quarter of 2008 was highlighted by continued momentum in subscriber growth, gross margin and operating margin expansion and strong earnings growth that was at the high-end of our expectations," stated David Brown, Chairman and CEO of Website Pros. "Web and online marketing services for small and medium-sized businesses represents a substantial market opportunity, and we believe Website Pros is well positioned based on our growing suite of solutions, diversified sales channels and large customer base. With the progress we have made with the integration of Web.com, growing profitability and expanding programs and partnerships, we continue to be optimistic looking ahead."
on a combined pro-forma basis.
Management will host a conference call to discuss Website Pros' results and other matters related to the Company's business today, May 12, 2008, at 5:00 p.m. (Eastern Time). To access this call, dial 888-215-6894 (domestic) or 913-312-1297 (international). A replay of this conference call will be available for a limited time at 888-203-1112 (domestic) or 719-457-0820 (international). The replay passcode is 4874885. A webcast of this conference call will also be available for a limited time on the "Investor Relations" page of the Company's Web site, www.websitepros.com.
All per share numbers for non-GAAP net income per share are expressed on a weighted-average diluted per share basis. Non-GAAP net income exclude stock-based compensation expense, amortization expense related to acquisitions, the deferred revenue adjustment due to purchase accounting, income tax expense, and includes an estimated cash tax rate to be paid during 2008. Non-GAAP operating income excludes stock-based compensation expense, amortization expense related to acquisitions and the deferred revenue adjustment related to purchase accounting. A reconciliation of GAAP financial measures to non-GAAP financial measures results has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Use of Non-GAAP Financial Measures."
Some of the measures in this press release are non-GAAP financial measures within the meaning of the SEC Regulation G. Website Pros believes presenting non-GAAP net income attributable to common stockholders and non-GAAP net income per share attributable to common stockholders and non-GAAP operating income is useful to investors, because it describes the operating performance of the company and helps investors gauge the company's ability to generate cash flow, excluding some recurring charges that are included in the most directly comparable measures calculated and presented in accordance with GAAP. Company management uses these non-GAAP measures as important indicators of the company's past performance and to plan and forecast performance in future periods. The non-GAAP financial information Website Pros presents may not be comparable to similarly-titled financial measures used by other companies, and investors should not consider non-GAAP financial measures in isolation fro m, or in substitution for, financial information presented in compliance with GAAP. You are encouraged to review the reconciliation of non-GAAP financial measures to GAAP financial measures included elsewhere in this press release.
This press release includes certain "forward-looking statements" including, without limitation, statements regarding Website Pros' expectations about its future performance, that are subject to risks, uncertainties and other factors that could cause actual results or outcomes to differ materially from those contemplated by the forward-looking statements. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts. These statements are sometimes identified by words and phrases such as "believe," "continue to be," "see" or words of similar meaning. As a result of the ultimate outcome of such risks and uncertainties, Website Pros' actual results could differ materially from those anticipated in these forward-looking statements. These statements are based on our current beliefs or expectations, and there are a number of important factors that cou ld cause the actual results or outcomes to differ materially from those indicated by these forward-looking statements, including, without limitation, our ability to integrate the Website Pros and Web.com businesses, our ability to maintain our sales efficiency, our ability to maintain our existing, and develop new, strategic relationships, the number of our net subscriber additions and our monthly customer turnover. These and other risk factors are set forth under the caption "Risk Factors" in Website Pros' Annual Report on Form 10-K for the year ended December 31, 2007, as filed with the Securities and Exchange Commission. This filing is available on a website maintained by the Securities and Exchange Commission at www.sec.gov. Website Pros expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein as a result of new information, future events or otherwise.