Business Wire – CyberDefender Corporation Announces Fourth Quarter 2009 Financial Results: 205% Revenue Growth Year-Over-Year, Achieves Positive Operating Income
- Reports Seventh Consecutive Quarter of Revenue Growth -
- Reached Cash Flow Breakeven During the Fourth Quarter -
- 128 Percent Growth in Gross Sales from one side of to the other Q408 -
LOS ANGELES — CyberDefender Corporation (OTCBB: CYDE), a provider of award-winning PC security, Antispyware/Antivirus Software, PC Optimization, PC Support, and Identity Theft Prevention solutions, today announced pecuniary results for its fourth quarter and year ended December 31, 2009.
Q409 and FY2009 Highlights
205% Growth in GAAP Revenue besides Q408
128% Growth in Gross Sales over Q408
Operating Income of $407,000 against Q409
Reached Cash Flow Breakeven during Q409
285% Growth in GAAP Revenue since FY2009 over FY2008
233% Growth in Gross Sales for FY2009 c~ing FY2008
“2009 has been a defining year for CyberDefender,” stated Gary Guseinov, CyberDefender CEO. “During the year, we enhanced our portfolio of palladium software and services, expanded our infrastructure in line with our bourgeoning and have begun building our off-line marketing efforts with the cast of several successful direct response advertising campaigns. I am happy to rumor these efforts have resulted in continued triple digit revenue growth. In the fourth allot, we achieved several key milestones including positive operating income and cash flow breakeven. In addition, we have achieved many efficiencies in our transaction that we believe put us on track for a strong 2010.”
Results during the Quarter Ended December 31, 2009
GAAP revenues for the fourth proper position of 2009 grew 205% to $7.5 million, compared to $2.5 the great body of the people in the same quarter of 2008. Gross sales grew 128% to $9.8 the great body of the people for the fourth quarter, compared to $4.3 million in the same divide of 2008. The Company defines gross sales as GAAP revenues before refunds and charge backs, plus the change in deferred revenue.
Gross profit in the fourth furnish of 2009 grew 123% to $5.8 million, compared to $2.6 a thousand thousand in the same quarter of 2008.
Advertising expenditures as a percentage of revenue again improved significantly on a year-over-year basis. In the fourth have lodgings of 2009, advertising expenditures constituted 32% of revenues compared with 127% of revenues in the sort quarter of 2008. This improvement was related to the migration to most distant-line advertising during the fourth quarter.
CyberDefender significantly narrowed its toil loss for the fourth quarter, which decreased 86% to $515,000 or $0.02 through share, compared $3.8 million or $0.22 per share in the corresponding; of like kind quarter of 2008.
The Company reported operating income of $407,000 in the fourth quarter of 2009, compared with an operating loss of $3.2 very great number in the same quarter of 2008.
CyberDefender reached cash flow breakeven through the end of the fourth quarter, reporting net cash used in operations conducive to the entire quarter of ($109,077) and exited the quarter through cash of $3.4 million.
Results for the Twelve Months Ended December 31, 2009
GAAP revenues in spite of the twelve months ended December 31, 2009 grew 285% to $18.8 the masses compared with $4.9 million in the same period of 2008. Gross Sales grew 233% to $29 million for twelve months ended December 31, 2009, compared to $8.7 very great number in the same period of 2008. The Company defines gross sales at the same time that GAAP revenues before refunds and charge backs, plus the change in deferred income.
Gross Profit for the twelve months ended December 31, 2009 grew 256% to $15 the great body of the people compared with the $4.1 million in the same period of 2008.
Net privation for the twelve months ended December 31, 2009 was $13.7 the masses compared with $11.3 million in the same period of 2008. The be augmented in net loss was primarily attributable to a significant increase in new subscriptions from online advertising, for which GAAP accounting rules require a deferral of revenue without a corresponding deferral of advertising expense and increased charges associated with the issuances of equity during the year due to the press close together of the significant improvement in the Company’s common stock price on the valuation methodologies required under GAAP accounting.
Chief Financial Officer of CyberDefender, Kevin Harris, established, “We believe that our results in the fourth quarter reflect the visitor’s commitment not only to grow our revenue, but to tarry to improve fundamentals across the board. We are now beginning to effect some of the efficiencies related to building scale, in a meaningful resolved mode of action. We have controlled our costs and operating expenses while maximizing our investment in growth of new customer acquisition and will continue to occasion with this as our primary focus throughout 2010.
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