Northern, WI 4/19/12 (StreetBeat) -- Webxu, Inc. (OTCBB: WBXU), a media company that owns and operates a network of consumer branded websites and businesses focused on Customer Acquisition, E-Commerce and Social Media, today reported financial results for its fourth quarter and year ended December 31, 2011.In its first full year of operations, Webxu has progressed from a preliminary concept stage to a fully operating company with revenues of over $26 million and approximately $2.1 million in EBITDA, both measured on a pro forma basis for 2011.
Matt Hill, Chairman and CEO of Webxu, commented, "We are extremely pleased at the substantial progress we have made in the very short time since Webxu incorporated in 2010. In 2011, we took the company public, acquired and successfully integrated two businesses that provide a strong opportunity for organic growth, and delivered sequential quarterly growth. As we plan to continue our pace in 2012, we remain focused on successfully executing our strategic plan. Along with our organic growth strategy, we recently signed a LOI with a current strategic and synergistic acquisition that we expect to bring significant top and bottom line growth in 2012. We believe that we are well positioned to become a significant player in the digital media space."
2011 Financial Highlights:
Net revenue on a GAAP basis in the fourth quarter of 2011 was approximately $4.7 million, compared to net revenue on a GAAP basis in the preceding quarter of approximately $2.2 million.
Gross margin in the fourth quarter of 2011 was approximately 34%, compared to approximately 32% in the preceding quarter.
Total shares outstanding at December 31, 2011 were approximately 20.5 million common shares.
About Webxu, Inc.
Webxu, Inc. (WBXU) is a media company that owns and operates a network of consumer branded websites and businesses focused on Customer Acquisition, E-Commerce and Social Media. Through its network of websites, Webxu generates revenue by providing advertiser clients with targeted consumer traffic. Webxu is headquartered in Los Angeles, CA. For more information about Webxu visit http://www.webxu.com.
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