TechTarget, Inc. (TTGT) has reported a 95.43 percent plunge in profit for the quarter ended Dec. 31, 2016. The company has earned $0.09 million in the quarter, compared with $1.97 million for the same period last year. On the other hand, adjusted net income for the quarter stood at $2.89 million, or $0.10 a share compared with $3.55 million or $0.10 a share, a year ago.
Revenue during the quarter dropped 9.30 percent to $26.67 million from $29.40 million in the previous year period. Gross margin for the quarter contracted 271 basis points over the previous year period to 70.72 percent. Total expenses were 93.63 percent of quarterly revenues, up from 85.24 percent for the same period last year. That has resulted in a contraction of 839 basis points in operating margin to 6.37 percent.
Operating income for the quarter was $1.70 million, compared with $4.34 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $4.67 million compared with $7.56 million in the prior year period. At the same time, adjusted EBITDA margin contracted 819 basis points in the quarter to 17.51 percent from 25.70 percent in the last year period.
For fiscal year 2017, TechTarget, Inc. forecasts revenue to grow at 10 percent. The company forecasts net income to grow in the range of $20 percent to $30 percent.
For the first-quarter 2017, TechTarget, Inc. expects revenue to be in the range of $22.50 million to $23.50 million. The company forecasts net loss to be in the range of $0.65 million to $1.25 million.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
