TheStreet, Inc. (TST) Misses Q1 EPS by 3c, Sales Fall

TheStreet, Inc. (NASDAQ: TST) reported Q1 EPS of ($0.10), $0.03 worse than the analyst estimate of ($0.07) (one analyst). Revenue fell 5% to $16.1 million versus the consensus estimate of $16.82 million.

"This is the beginning of our transition year," said Larry Kramer, Chairman and Interim CEO. "We have launched product improvement projects in all of our businesses, and begun to add resources in technology, sales and content that will give us the products we need to grow. New technology investment and significant improvement in content, including this month's launch of our European news operations, will provide new opportunities for growth by the end of this year."

"In pursuing these strategic goals we have incurred certain restructuring costs and will continue to invest in operational improvements. To offset some of these expenditures, as we announced last quarter, we suspended the dividend payments for 2016," Kramer added. "We have also begun to report our business-to-business and business-to-consumer business lines separately to help investors understand each business better. Finally, we have added key people to the management team and continue to evaluate several strong candidates for the role of permanent CEO."

Operating expenses for the first quarter of 2016 were $19.2 million, an increase of $1.6 million, or 9%, from $17.6 million in the prior year period,

The company generated $2.2 million in operating cash flow for first quarter of 2016, compared to $0.8 million for the prior year period. The increase was the result of changes in the Company's assets and liabilities over the periods, partially offset by the increased net loss. The Company ended the quarter with cash and cash equivalents, restricted cash and marketable securities of $32.0 million, as compared to $30.7 million as of December 31, 2015.

For earnings history and earnings-related data on TheStreet, Inc. (TST) click here.

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