LiveWorld, a social media marketing agency, has reported US$2.3m in total revenues and a net loss of US$177,000 for the second quarter of 2009 compared to US$3.1m in total revenues and a net loss of US$138,000 for the second quarter of 2008. The lower revenues are primarily attributed to spending reductions by existing clients due to current economic conditions. These reductions were partially offset by work from new clients as well as programme expansion by select clients.
The company reported positive cash flows of US$86,000 for the second quarter of 2009, an improvement of US$247,000 compared to a cash burn of US$161,000 for the second quarter of 2008. As of 30 June 2009, the company had US$1.5m in cash and cash equivalents. Additionally, the company reported a positive working capital balance of approximately US$1.3m at the end of the second quarter as compared to US$1.2m at the end of the fourth quarter of 2008.
“We are pleased to have maintained a strong and healthy balance sheet while continuing to invest in new product development,” said David Houston, chief financial officer of LiveWorld. “We are successfully managing through the current economic downturn and believe we are well positioned for growth as the macroeconomic environment and spending for online marketing activities improves.”
The annual BNP Paribas Cash Management University kicked off on Thursday morning with treasury professionals congregating in Paris from across Europe.
APIs may be a solution to MT940 challenges, says Karen Fagan, treasury operation manager, for British television company, ITV.
Kicking off the first day of the Singapore Fintech Festival, issues with cryptocurrencies were addressed by MIT media labs director, Joi Ito, and panels of technology leaders discussed how they’re using data analytics.
Sibos 2017 day two highlights: Brexit and banking, and why ‘data is the new oil’ in financial services
How nation first politics can impact global financial organisations It’s clear that data and regulation are the two key topics that are ... read more