LiveRamp Announces First Quarter Results

Revenue Increased 32% – Subscription Revenue Grew 33%

Cumulative Share Repurchases Now Exceed $1 Billion

SAN FRANCISCO–(BUSINESS WIRE)–LiveRamp® (NYSE: RAMP), the trusted platform that makes data accessible and meaningful, today announced its financial results for the first quarter ended June 30, 2019.


Financial Highlights

  • Total revenue was $83 million, up 32% compared to the prior year period. Excluding the impact of Facebook, total revenue increased 39%.
  • Subscription revenue was $68 million, up 33% and contributed 83% of total revenue.
  • Marketplace & Other revenue was $14 million, up 27% compared to the prior year period. Excluding the impact of Facebook, Marketplace & Other revenue increased 76%.
  • GAAP operating loss was $48 million compared to a GAAP operating loss of $30 million in the prior year period. Non-GAAP operating loss was $22 million compared to a non-GAAP operating loss of $6 million in the prior year period.
  • GAAP loss per share from continuing operations was $0.61, and non-GAAP loss per share from continuing operations was $0.24.
  • Net cash used in operating activities was $15 million compared to net cash used in operating activities of $2 million during the first quarter of fiscal 2019.
  • Since March 31, 2019, LiveRamp repurchased 1.4 million shares for $69 million under the current stock repurchase program (including $49 million subsequent to June 30, 2019). Since August 2011, the Company has repurchased more than 35 million shares through its stock repurchase program and tender offer, representing over $1 billion in capital returned to shareholders.
  • Cash and cash equivalents totaled $1 billion with no debt at quarter end.

“During the quarter, our customer value proposition once again increased,” said LiveRamp CEO Scott Howe. “We launched the Authenticated Traffic Solution to directly connect advertisers with publishers. In addition, with the acquisition of Data Plus Math, we’ve given our customers what they’ve been demanding – the ability to measure what matters in TV. LiveRamp’s neutral and safe choice for identity management is the industry standard.”

“This was another great quarter for LiveRamp,” said LiveRamp President and CFO Warren Jenson. “On a comparable basis, total revenue was up 39%, and our Marketplace & Other business grew 76%. We remain on track for a healthy and profitable FY21. Finally, we are walking the talk with our approach to capital allocation. We have balanced organic investment with a disciplined acquisition strategy while returning meaningful levels of capital to shareholders.”

GAAP and Non-GAAP Results

The following table summarizes the Company’s financial results for its first fiscal quarter ($ in millions):

 

Q1 Fiscal 2020

Q1 Fiscal 2019

 

Results

Results

 

 

GAAP

Non-GAAP

GAAP

Non-GAAP

Subscription revenue

$68

 

 

$51

 

YoY change %

33%

 

 

 

38%

 

 

Marketplace & other revenue

$14

 

 

$11

 

YoY change %

27%

 

___

 

15%

 

___

Total revenue

$83

 

 

$62

 

YoY change %

32%

 

 

 

34%

 

 

 

 

 

 

 

 

 

 

Gross profit

$46

 

$51

 

$39

 

$45

% Gross margin

56%

 

62%

 

62%

 

73%

YoY change, pts

(6 pts)

 

(10 pts)

 

14 pts

 

10 pts

 

 

 

 

 

 

 

 

Operating loss

($48)

 

($22)

 

($30)

 

($6)

% Operating margin

(59%)

 

(27%)

 

(47%)

 

(9%)

YoY change, pts

(11 pts)

 

(18 pts)

 

38 pts

 

21 pts

 

 

 

 

 

 

 

 

Net loss1

($42)

 

($16)

 

($3)

 

($4)

YoY change %

nm

 

nm

 

 

 

 

Loss per share1

($0.61)

 

($0.24)

 

($0.36)

 

($0.06)

YoY change %

nm

 

nm

 

nm

 

nm

Shares to Calculate EPS

68.9

 

 

76.9

 

YoY change %

(10%)

 

 

 

 

 

 

Net operating cash flow

($15)

 

 

($2)

 

YoY change %

nm

 

 

nm

 

Free cash flow to equity

 

($20)

 

 

($4)

YoY change %

 

nm

 

 

nm

1

From continuing operations, does not include AMS results.

Totals may not sum due to rounding.

A detailed discussion of our non-GAAP financial measures and a reconciliation between GAAP and non-GAAP results is provided in the schedules to this press release.

Additional Metrics & Highlights

  • LiveRamp added more than 25 new direct subscription customers during the quarter, bringing its total direct customer count to 690, an increase of 18% year-over-year. We now serve 20% of the Fortune 500 compared to 17% in the prior year period.
  • LiveRamp has 45 clients whose subscription contracts exceed $1 million in annual revenue, up from 32 in the prior year period.
  • Dollar-based net retention was approximately 108% in the quarter.
  • LiveRamp launched the Authenticated Traffic Solution (ATS) for publishers and supply-side platforms (SSPs) to enable people-based addressability in cookieless environments and provide consumers with more choice and control over how their data is being used.
  • On July 2, 2019, LiveRamp closed its acquisition of Data Plus Math, a media measurement company that works with brands, agencies, cable operators, streaming TV services, and networks to tie cross-screen ad exposure with real-world outcomes. The combination will enable the ecosystem to better buy, sell and measure data-driven TV.

Financial Outlook

LiveRamp’s non-GAAP guidance excludes the impact of non-cash stock compensation, purchased intangible asset amortization, and restructuring charges.

For fiscal 2020, which now includes the financial impact of the Data Plus Math acquisition, LiveRamp expects to report:

  • Revenue of $363 million to $377 million, an increase of between 27% and 32% year-over-year.
  • GAAP operating loss from continuing operations of between $189 million and $169 million.
  • Non-GAAP operating loss of between $76 million and $56 million.

The Company’s GAAP and non-GAAP operating loss guidance includes up to $13 million of transition-related spend associated with establishing standalone operations at LiveRamp. Transition-related spending is expected to be complete by the end of the second fiscal quarter.

LiveRamp continues to expect full year non-GAAP operating profitability in fiscal 2021.

Conference Call

LiveRamp will hold a conference call at 1:30 p.m. PT today to further discuss this information. Interested parties are invited to listen to the call which will be broadcast via the Internet and can be found on LiveRamp’s investor site. A slide presentation will be referenced during the call and can be accessed here.

About LiveRamp

LiveRamp provides the identity platform leveraged by brands and their partners to deliver innovative products and exceptional experiences. LiveRamp’s IdentityLink™ connects people, data, and devices across the digital and physical world, powering the people-based marketing revolution and allowing consumers to safely connect with the brands and products they love. For more information, visit www.LiveRamp.com.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, as amended (the “PSLRA”). These statements, which are not statements of historical fact, may contain estimates, assumptions, projections and/or expectations regarding the Company’s financial position, results of operations, market position, product development, growth opportunities, economic conditions, and other similar forecasts and statements of expectation. Forward-looking statements are often identified by words or phrases such as “anticipate,” “estimate,” “plan,” “expect,” “believe,” “intend,” “foresee,” or the negative of these terms or other similar variations thereof.

These forward-looking statements are not guarantees of future performance and are subject to a number of factors and uncertainties that could cause the Company’s actual results and experiences to differ materially from the anticipated results and expectations expressed in the forward-looking statements.

Among the factors that may cause actual results and expectations to differ from anticipated results and expectations expressed in forward-looking statements relate to the Company’s dependence upon customer renewals; new customer additions and upsell within our subscription business; our reliance upon partners including data suppliers; competition; and attracting and retaining talent. Additional risks relate to maintaining our culture and our ability to innovate and evolve within a rapidly changing industry including digital advertising, while also avoiding disruption from acquisition and divestiture activities. Our international operations are also subject to risks that may harm the Company’s business. The risk of a significant breach of the confidentiality of the information or the security of our or our customers’, suppliers’, or other partners’ computer systems could be detrimental to our business, reputation and results of operations. Other business risks include unfavorable publicity and negative public perception about our industry; interruptions or delays in service from data center hosting vendors we rely upon; and our dependence on the continued availability of third-party data hosting and transmission services. Our clients’ ability to use data on our platform could be restricted if the industry’s use of third-party cookies and tracking technology declines due to technology platform changes, regulation or increased user controls. Changes in regulations relating to information collection represents a risk, as well as changes in tax laws and regulations that are applied to our customers which could cause enterprise software budget tightening. In addition, third parties may claim that we are infringing their intellectual property or may infringe our intellectual property which could result in competitive injury and / or the incurrence of significant costs and draining of our resources.

For a discussion of these and other risks and uncertainties, please refer to LiveRamp’s Annual Report on Form 10-K for our fiscal year 2019 ended March 31, 2019.

The financial information set forth in this press release reflects estimates based on information available at this time. These amounts could differ from actual reported amounts stated in LiveRamp’s Quarterly Report on Form 10-Q for the period ended June 30, 2019, which LiveRamp expects to file on August 5, 2019.

LiveRamp assumes no obligation and does not currently intend to update these forward-looking statements.

To automatically receive LiveRamp financial news by email, please visit www.LiveRamp.com and subscribe to email alerts.

LiveRamp®, IdentityLinkTM, Abilitec® and all other LiveRamp marks contained herein are trademarks or service marks of LiveRamp, Inc. All other marks are the property of their respective owners.

LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except per share amounts)
 
 
For the Three Months Ended
June 30,

$

%

2019

2018

Variance

Variance

 
Revenues

82,511

 

62,471

 

 

20,040

 

32.1

%

 
Cost of revenue

36,426

 

23,654

 

 

12,772

 

54.0

%

Gross profit

46,085

 

38,817

 

 

7,268

 

18.7

%

% Gross margin

55.9

%

62.1

%

 
Operating expenses:
Research and development

23,722

 

16,970

 

 

6,752

 

39.8

%

Sales and marketing

43,144

 

33,323

 

 

9,821

 

29.5

%

General and administrative

25,318

 

18,125

 

 

7,193

 

39.7

%

Gains, losses and other items, net

2,276

 

1

 

 

2,275

 

n/a

 

Total operating expenses

94,460

 

68,419

 

 

26,041

 

38.1

%

 
Loss from operations

(48,375

)

(29,602

)

 

(18,773

)

(63.4

%)

% Margin

-58.6

%

-47.4

%

 
Total other income

5,882

 

356

 

 

5,526

 

1552.2

%

 
Loss from continuing operations before income taxes

(42,493

)

(29,246

)

 

(13,247

)

(45.3

%)

 
Income taxes (benefit)

(353

)

(1,428

)

 

1,075

 

75.3

%

 
Net loss from continuing operations

(42,140

)

(27,818

)

 

(14,322

)

(51.5

%)

 
Earnings from discontinued operations, net of tax

 

24,803

 

 

(24,803

)

(100.0

%)

 
Net loss

(42,140

)

(3,015

)

 

(39,125

)

(1297.7

%)

 
Basic earnings (loss) per share:
Continuing operations

(0.61

)

(0.36

)

 

(0.25

)

(69.1

%)

Discontinued operations

0.00

 

0.32

 

 

(0.32

)

(100.0

%)

Net loss

(0.61

)

(0.04

)

 

(0.57

)

(1460.5

%)

 
Diluted earnings (loss) per share:
Continuing operations

(0.61

)

(0.36

)

 

(0.25

)

(69.1

%)

Discontinued operations

 

0.32

 

 

(0.32

)

(100.0

%)

Net loss

(0.61

)

(0.04

)

 

(0.57

)

(1460.5

%)

 
Basic weighted average shares

68,906

 

76,935

 

Diluted weighted average shares

68,906

 

76,935

 

LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP EPS (1)
(Unaudited)
(Dollars in thousands, except per share amounts)
 
For the Three Months Ended
June 30,

2019

2018

 
 
Loss from continuing operations before income taxes

(42,493

)

(29,246

)

 
Income taxes (benefit)

(353

)

(1,428

)

 
Net loss from continuing operations

(42,140

)

(27,818

)

 
Earnings from discontinued operations, net of tax

 

24,803

 

 
Net loss

(42,140

)

(3,015

)

 
Loss per share:
Basic

(0.61

)

(0.04

)

Diluted

(0.61

)

(0.04

)

 
Excluded items:
Purchased intangible asset amortization (cost of revenue)

3,123

 

5,970

 

Non-cash stock compensation (cost of revenue and operating expenses)

18,630

 

17,798

 

Accelerated depreciation (cost of revenue and operating expenses)

1,906

 

 

Restructuring and merger charges (gains, losses, and other)

2,276

 

1

 

 
Total excluded items, continuing operations

25,935

 

23,769

 

 
Loss from continuing operations before income taxes and excluding items

(16,558

)

(5,477

)

 
Income taxes (benefit) (2)

(216

)

(1,078

)

 
Non-GAAP net loss from continuing operations

(16,342

)

(4,399

)

 
Non-GAAP loss per share from continuing operations:
Basic

(0.24

)

(0.06

)

Diluted

(0.24

)

(0.06

)

 
Basic weighted average shares

68,906

 

76,935

 

Diluted weighted average shares

68,906

 

76,935

 

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.

 

(2)

Income taxes were calculated using an effective non-GAAP tax rate of 1.3% and 19.7% in the first quarter of fiscal 2020 and 2019, respectively. The difference between our GAAP and non-GAAP tax rates were primarily due to the net tax effects of the excluded items.

LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP TO NON-GAAP LOSS FROM OPERATIONS (1)
(Unaudited)
(Dollars in thousands)
 
For the Three Months Ended
June 30,

2019

2018

 
 
Loss from continuing operations

(48,375

)

(29,602

)

 
Excluded items:
Purchased intangible asset amortization (cost of revenue)

3,123

 

5,970

 

Non-cash stock compensation (cost of revenue and operating expenses)

18,630

 

17,798

 

Accelerated depreciation (cost of revenue and operating expenses)

1,906

 

 

Restructuring and merger charges (gains, losses, and other)

2,276

 

1

 

 
Total excluded items

25,935

 

23,769

 

 
Loss from continuing operations before excluded items

(22,440

)

(5,833

)

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures and the material limitations on the usefulness of these measures, please see Appendix A.

LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
RECONCILIATION OF ADJUSTED EBITDA (1)
(Unaudited)
(Dollars in thousands)
 
For the Three Months Ended
June 30,

2019

2018

 
 
Net loss from continuing operations

(42,140

)

(27,818

)

 
Income taxes (benefit)

(353

)

(1,428

)

 
Other income

(5,882

)

(356

)

 
Loss from operations

(48,375

)

(29,602

)

 
Depreciation and amortization

8,877

 

9,403

 

 
EBITDA

(39,498

)

(20,199

)

 
Other adjustments:
Non-cash stock compensation (cost of revenue and operating expenses)

18,630

 

17,798

 

Restructuring and merger charges (gains, losses, and other)

2,276

 

1

 

 
Other adjustments

20,906

 

17,799

 

 
Adjusted EBITDA

(18,592

)

(2,400

)

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.

LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Dollars in thousands)
 

June 30,

March 31,

$

%

2019

2019

Variance

Variance

 
Assets
Current assets:
Cash and cash equivalents

1,005,477

 

1,061,473

 

 

(55,996

)

(5.3

%)

Trade accounts receivable, net

81,061

 

78,563

 

 

2,498

 

3.2

%

Refundable income taxes

8,753

 

7,890

 

 

863

 

10.9

%

Other current assets

42,917

 

44,150

 

 

(1,233

)

(2.8

%)

 
Total current assets

1,138,208

 

1,192,076

 

 

(53,868

)

(4.5

%)

 
Property and equipment

68,654

 

64,852

 

 

3,802

 

5.9

%

Less – accumulated depreciation and amortization

44,047

 

38,809

 

 

5,238

 

13.5

%

 
Property and equipment, net

24,607

 

26,043

 

 

(1,436

)

(5.5

%)

 
Software, net of accumulated amortization

7,100

 

6,861

 

 

239

 

3.5

%

Goodwill

207,778

 

204,656

 

 

3,122

 

1.5

%

Deferred income taxes

35

 

35

 

 

 

0.0

%

Deferred commissions, net

10,567

 

10,741

 

 

(174

)

(1.6

%)

Other assets, net

51,009

 

32,499

 

 

18,510

 

57.0

%

 

1,439,304

 

1,472,911

 

 

(33,607

)

(2.3

%)

 
Liabilities and Stockholders’ Equity
Current liabilities:
Trade accounts payable

29,930

 

31,203

 

 

(1,273

)

(4.1

%)

Accrued payroll and related expenses

17,081

 

18,715

 

 

(1,634

)

(8.7

%)

Other accrued expenses

70,929

 

40,916

 

 

30,013

 

73.4

%

Deferred revenue

3,170

 

4,284

 

 

(1,114

)

(26.0

%)

 
Total current liabilities

121,110

 

95,118

 

 

25,992

 

27.3

%

 
Deferred income taxes

241

 

39

 

 

202

 

517.9

%

 
Other liabilities

45,796

 

46,922

 

 

(1,126

)

(2.4

%)

 
Stockholders’ equity:
Common stock

14,245

 

14,187

 

 

58

 

0.4

%

Additional paid-in capital

1,422,879

 

1,406,813

 

 

16,066

 

1.1

%

Retained earnings

1,627,465

 

1,669,605

 

 

(42,140

)

(2.5

%)

Accumulated other comprehensive income

7,334

 

7,801

 

 

(467

)

(6.0

%)

Treasury stock, at cost

(1,799,766

)

(1,767,574

)

 

(32,192

)

(1.8

%)

Total stockholders’ equity

1,272,157

 

1,330,832

 

 

(58,675

)

(4.4

%)

 

1,439,304

 

1,472,911

 

 

(33,607

)

(2.3

%)

LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(Dollars in thousands)
 
For the Three Months Ended
June 30,

2019

2018

Cash flows from operating activities:
Net loss

(42,140

)

(3,015

)

Earnings from discontinued operations, net of tax

 

(24,803

)

Non-cash operating activities:
Depreciation and amortization

8,877

 

9,403

 

Loss (gain) on disposal or impairment of assets

85

 

(15

)

Provision for doubtful accounts

962

 

(464

)

Deferred income taxes

7

 

(1,692

)

Non-cash stock compensation expense

18,630

 

17,798

 

Changes in operating assets and liabilities:
Accounts receivable

(3,451

)

(852

)

Deferred commissions

174

 

(998

)

Other assets

3,600

 

(574

)

Accounts payable and other liabilities

(188

)

4,403

 

Income taxes

(863

)

(1,898

)

Deferred revenue

(1,101

)

427

 

Net cash used in operating activities

(15,408

)

(2,280

)

Cash flows from investing activities:
Capitalized software

 

(899

)

Capital expenditures

(4,888

)

(712

)

Payments for investments

 

(2,500

)

Cash paid in acquisition, net of cash received

(4,479

)

 

Net cash used in investing activities

(9,367

)

(4,111

)

Cash flows from financing activities:
Payments of debt

 

(592

)

Fees from debt refinancing

 

(300

)

Proceeds related to the issuance of common stock under stock and employee benefit plans

1,060

 

4,116

 

Shares repurchased for tax withholdings upon vesting of stock-based awards

(12,093

)

(10,044

)

Acquisition of treasury stock

(20,099

)

(45,766

)

Net cash used in financing activities

(31,132

)

(52,586

)

Cash flows from discontinued operations:
From operating activities

 

20,181

 

From investing activities

 

(6,573

)

Effect of exchange rate changes on cash

 

(167

)

Net cash provided by discontinued operations

 

13,441

 

Effect of exchange rate changes on cash

(89

)

(927

)

 
Net change in cash and cash equivalents

(55,996

)

(46,463

)

Cash and cash equivalents at beginning of period

1,061,473

 

140,018

 

Cash and cash equivalents at end of period

1,005,477

 

93,555

 

 
Supplemental cash flow information:
Cash paid (received) during the period for:
Income taxes

110

 

(1,100

)

LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
CALCULATION OF FREE CASH FLOW TO EQUITY (1)
(Unaudited)
(Dollars in thousands)
 
 
06/30/18 09/30/18 12/31/18 03/31/19 FY2019 06/30/19
 
Net Cash Provided by (Used in) Operating Activities-Continuing Operations

(2,280

)

(27,130

)

(10,922

)

38,354

 

(1,978

)

(15,408

)

 
Less (plus):
Capitalized software

(899

)

(423

)

 

 

(1,322

)

 

Capital expenditures

(712

)

(1,323

)

(1,938

)

(3,347

)

(7,320

)

(4,888

)

Required debt payments

(592

)

(2,701

)

 

 

(3,293

)

 

 
Free Cash Flow to Equity

(4,483

)

(31,577

)

(12,860

)

35,007

 

(13,913

)

(20,296

)

(1)

This presentation includes non-GAAP measures. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures, and should be read only in conjunction with our condensed consolidated financial statements prepared in accordance with GAAP. For a detailed explanation of the adjustments made to comparable GAAP measures, the reasons why management uses these measures, the usefulness of these measures and the material limitations on the usefulness of these measures, please see Appendix A.

LIVERAMP HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(Dollars in thousands, except per share amounts)
 
Q1 FY20 to Q1 FY19
06/30/18 09/30/18 12/31/18 03/31/19 FY2019 06/30/19

%

$

Revenues

62,471

 

64,812

 

80,021

 

78,316

 

285,620

 

82,511

 

32.1

%

20,040

 

 
Cost of revenue

23,654

 

24,466

 

34,838

 

37,760

 

120,718

 

36,426

 

54.0

%

12,772

 

Gross profit

38,817

 

40,346

 

45,183

 

40,556

 

164,902

 

46,085

 

18.7

%

7,268

 

% Gross margin

62.1

%

62.3

%

56.5

%

51.8

%

57.7

%

55.9

%

 
Operating expenses
Research and development

16,970

 

16,940

 

20,469

 

31,318

 

85,697

 

23,722

 

39.8

%

6,752

 

Sales and marketing

33,323

 

35,940

 

40,054

 

49,223

 

158,540

 

43,144

 

29.5

%

9,821

 

General and administrative

18,125

 

25,176

 

27,828

 

27,749

 

98,878

 

25,318

 

39.7

%

7,193

 

Gains, losses and other items, net

1

 

489

 

5,043

 

14,400

 

19,933

 

2,276

 

n/a

 

2,275

 

Total operating expenses

68,419

 

78,545

 

93,394

 

122,690

 

363,048

 

94,460

 

38.1

%

26,041

 

 
Loss from operations

(29,602

)

(38,199

)

(48,211

)

(82,134

)

(198,146

)

(48,375

)

(63.4

%)

(18,773

)

% Margin

-47.4

%

-58.9

%

-60.2

%

-104.9

%

-69.4

%

-58.6

%

 
Total other income (expense)

356

 

(281

)

10,404

 

8,311

 

18,790

 

5,882

 

1552.2

%

5,526

 

 
Loss from continuing operations before income taxes

(29,246

)

(38,480

)

(37,807

)

(73,823

)

(179,356

)

(42,493

)

(45.3

%)

(13,247

)

 
Income taxes (benefit)

(1,428

)

2,700

 

(22,546

)

(24,135

)

(45,409

)

(353

)

75.3

%

1,075

 

 
Net loss from continuing operations

(27,818

)

(41,180

)

(15,261

)

(49,688

)

(133,947

)

(42,140

)

(51.5

%)

(14,322

)

 
Earnings from discontinued operations, net of tax

24,803

 

61,803

 

1,071,661

 

4,227

 

1,162,494

 

 

(100.0

%)

(24,803

)

 
Net earnings (loss)

(3,015

)

20,623

 

1,056,400

 

(45,461

)

1,028,547

 

(42,140

)

(1297.7

%)

(39,125

)

 
Diluted earnings (loss) per share

(0.04

)

0.27

 

13.65

 

(0.67

)

13.71

 

(0.61

)

(1460.5

%)

(0.57

)

 
Diluted loss per share continuing operations

(0.36

)

(0.53

)

(0.20

)

(0.73

)

(1.79

)

(0.61

)

(69.1

%)

(0.25

)

 
Some earnings (loss) per share amounts may not add due to rounding.
 
Basic shares

76,935

 

77,448

 

77,398

 

68,299

 

75,020

 

68,906

 

Diluted shares

76,935

 

77,448

 

77,398

 

68,299

 

75,020

 

68,906

 

Contacts

LiveRamp Investor Relations

Lauren Dillard, (650) 372-2242

Investor.Relations@LiveRamp.com

ERAMP

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