Search engine portal firm, Answers, creators of the engine offering Answers.com and WikiAnswers, has reported unaudited financial results for its third quarter ending September 30.
.

Robert S. Rosenschein, Chairman and CEO noted,”We are pleased to report a solid quarter that exceeded our guidance. The company is reporting record revenues, up 19% sequentially to $3.56 million and surpassing the top end of our guidance by $660 thousand. We turned a significant corner by achieving positive adjusted EBITDA of $520 thousand, a quarter ahead of forecast, and we are forecasting at least $1 million positive adjusted EBITDA in Q4. We believe the steps we took to reduce operating expenses this summer, as well as the traffic growth we are experiencing puts us in a good position to weather the current challenging global economic environment.”

Q3 2008 Financial Results included:

— WikiAnswers.com revenues were $1,960 thousand in Q3 2008, an increase of 31% compared to $1,500 thousand in Q2 2008.

— Answers.com revenues were $1,579 thousand in Q3 2008, an increase of 6% compared to $1,485 thousand in Q2 2008.

— Adjusted operating expenses in Q3 2008 were $3,043 thousand, an increase of 3% compared to $2,941 thousand reported for the same period in 2007, and a decrease of 17% compared to the $3,673 thousand reported in Q2 2008.

Answers Corporation operates Answers.com information portal, delivering comprehensive content on four million topics spanning health, finance, entertainment, business and more. Content includes over 180 licensed titles from leading publishers such as Houghton Mifflin Riverdeep Group PLC, Barron’s, Encyclopedia Britannica, All Media Guide and others; original articles written by Answers.com’s editorial team; community-contributed articles from Wikipedia; and user-generated questions and answers from Answers.com’s industry-leading WikiAnswers (wiki.answers.com).

Founded in 1999 by CEO Bob Rosenschein, Answers.com can be launched directly from within Internet Explorer 7, Firefox and Opera browsers, and its service is integrated into sites like Amazon.com’s A9.com, The New York Public Libraries’ homeworkNYC.org, The New York Times, CBSNews.com and others. Answers.com is also available for mobile devices at mobile.answers.com.

This entry was posted on Monday, November 17th, 2008 at 12:17 pm and is filed under News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.