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Limelight Networks - June Quarter Company Update
Research 2.0, Aug 2007, Pages: 2
Limelight Networks (LLNW) reported its first quarter as a public company, and it will need to go back to the drawing board on presenting to investors. What would normally just go to calculating deferred revenue was used to try and justify a higher “non-GAAP” revenue result, which investors never like. Beyond that, repeated comments focused on the effect that seasonality and pricing pressure had on curbing good momentum in bookings and sales. Guidance was also conservative, forcing even the investment banking analysts to express dismay. We have reduced our fair value estimate from $20 to $14.
Limelight Networks - June Quarter Results Company Update Report:
- Evaluates Limelight Network’s June quarter earnings results.
- Discusses the muddled investor presentation, “make believe” numbers and the overemphasis on seasonality and pricing pressure.
- Adjusts revenue growth expectations, operating margins and fair value estimates in light of June results and a lack of new information on the Akamai dispute.
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