MIX

[setravis]

Earnings after market,expects to report record fiscal year.


http://stockcharts.com/def/servlet/SC.web?c=MIX


LOS ANGELES, Jun 14, 2005 (BUSINESS WIRE) -- Intermix Media, Inc. (MIX, Trade), today reported record revenue of $24.1 million for its fiscal fourth quarter ended March 31, 2005, an increase of 68 percent from $14.4 million for the same quarter last year. Revenues for the fiscal year ended March 31, 2005 were $79 million, compared to $52.9 million for the same period last year.

The Company reported a net loss of $409,000 for the fourth quarter of fiscal 2005, compared to a net loss of $4.4 million in the same period last year. Fourth-quarter earnings before interest, taxes, depreciation and amortization expenses ("EBITDA") were $476,000, compared to a loss of $3.5 million in the same period last year. Net income and EBITDA for the fourth quarter ended March 31, 2005 reflect a gain of $6.3 million in connection with the MySpace, Inc. transaction completed in February 2005, and a $6.9 million reserve established in connection with pending litigation by the Office of the New York Attorney General.

Net income for the fiscal year ended March 31, 2005 was $4.5 million, compared to a net loss of $13.1 million in the prior year. EBITDA for the year was $7.6 million, compared to a loss of $8.4 million in the same period last year. Net income and EBITDA for fiscal year 2005 reflect $5.3 million in gains arising from sale of assets and extinguishment of debt in the Company's second fiscal quarter ended September 30, 2004, as well as the fourth quarter items noted above.

Product marketing segment revenues for the fourth quarter increased 71 percent to $14.1 million, from $8.3 million for the same quarter last year. This increase is primarily due to greater sales of the Hydroderm(TM), Body Shape(TM), and Dream Shape(TM) product lines at the Company's Alena business unit.

Network segment revenues for the fourth quarter increased 63 percent to $10 million, up from $6.1 million for the same period last year. This increase is primarily due to higher performance-based and branded advertising revenues.

"We are very pleased that we are able to execute on our goals of continued revenue and EBITDA growth, while significantly strengthening our overall media properties and marketing technologies," stated Richard Rosenblatt, Chief Executive Officer of Intermix. "Through innovative marketing, unique content, and cutting edge technologies we were able to significantly grow both segments of our business. With a network of over 27 million monthly users and in excess of 7.5 billion page views per month, we believe we have enormous untapped opportunities."

Business Growth and Investments

The continued focus of Intermix and its subsidiaries on infrastructure and growth in the most recent quarter resulted in significant progress in both segments of the business. Company highlights include:

-- Completion of an investment in MySpace Inc. by Redpoint Ventures. The $5 million in financing proceeds received by MySpace, Inc. a newly formed, majority-owned subsidiary of Intermix Media, is expected to facilitate continued growth of the business.

-- MySpace.com receiving over 15.5 million unique visitors during the month of May 2005, according to comScore Media Metrix. MySpace received more than 7.5 billion page views in the month of May, making it the fifth largest domain in the U.S. according to comScore Media Metrix. MySpace is making significant capital investments in network infrastructure and substantial expenditures in connection with the recruitment and addition of technical, sales and other personnel to support and foster the anticipated continued growth of MySpace.com

-- Significant expansion of Grab.com's content offerings to include movies, cartoons, pets and humor content. According to comScore Media Metrix, Grab.com received more than 2.9 million unique visitors during the month of May 2005.

-- Investment of more than $2.5 million in computer hardware and software in the fourth quarter to further strengthen the Company's infrastructure.

-- The Company being slated for addition to the Russell 3000(R) and Russell Microcap(TM) Indices, expected to be effective as of June 24, 2005.

Fiscal year 2006 Outlook

Intermix raised its forecast of fiscal year 2006 revenues to $118 million, from a previously forecasted range of $112 million to $115 million which represents an increase of approximately 49 percent over fiscal year 2005 results. The Company's forecast of net income for fiscal year 2006 remains approximately $8.2 million, with EBITDA now forecasted to be approximately $15.3 million, up from a previous forecast of $12 million. The increase in forecasted revenues is not expected to change previously forecasted net income due to expected increases in income taxes, interest and amortization expenses in connection with the establishment of MySpace, Inc. as a majority-owned subsidiary. The Company's fiscal year 2006 forecasts reflect approximately $2 million in costs related to compliance with the Sarbanes-Oxley Act of 2002.

For the first quarter of fiscal 2006, ending June 30, 2005, the Company is forecasting revenues of between $25 million and $26 million, which represents an increase of approximately 50 percent to 56 percent over the same quarter last fiscal year, and the Company expects net income to be approximately break even, with EBITDA forecasted to be approximately $1.3 million. First-quarter 2006 forecasted results reflect approximately $600,000 in costs related to the Company's fiscal year 2005 audit and compliance with the Sarbanes-Oxley Act of 2002.

Conference Call

[rocket8]

this became a great pick ehh....
MIX bought by News Corp.

[setravis]

this became a great pick ehh....
MIX bought by News Corp.

You have been digging Rocket8!
I posted it, there were no replies(no interest)and thus it was forgotten, even by me.
It did turn out nice, ehh....

[rocket8]

applause.  great pick.

[setravis]

I applaud you for digging this winner up!
Just goes to show you,we can never keep up with all we do

Applaud

[setravis]

An up-to-date chart for this little pup!

[setravis]

LOS ANGELES, Sep 23, 2005 (BUSINESS WIRE) -- FreeMySpace LLC

-- Solicits Proxies against News Corp Deal and Urges Intermix to Defer Vote on News Corp Proposal

-- Launches www.FreeMySpace.com to Rally Support

FreeMySpace LLC, a newly formed investor group led by Intermix' largest non-insider stockholder Brad Greenspan, today submitted a proposal to the Board of Directors of Intermix Media, Inc. (MIX, Trade) to acquire a significant interest in Intermix at a price of $13.50 per share. Brad Greenspan, as the founder of FreeMySpace LLC, will file a proxy statement with the Securities and Exchange Commission to solicit proxies from Intermix stockholders to vote against the News Corporation (NWS, Trade) acquisition and in support of the new transaction at the upcoming meeting of Intermix stockholders. FreeMySpace LLC also requested that Intermix defer its scheduled stockholder meeting in order to give stockholders the opportunity to fairly evaluate the proposal from FreeMySpace LLC.

Under the terms of the FreeMySpace proposal, Intermix stockholders will:

-- Be able to sell up to one-half (50%) of their Intermix shares at their option for $13.50 per share, a significant premium to the proposed News Corp. offer; and

-- Retain equity participation in a publicly traded Intermix, which will increase its ownership to 100% of the fast-growing MySpace.com business. Through the strategic divestiture of non-MySpace assets, Intermix will have the resources necessary to successfully focus on the growth and development of MySpace.com.

-- Support, help grow, and keep independent the largest social network in the world. To hear the opinion of MySpace.com users, visit www.FreeMySpace.com.

"I believe the transaction FreeMySpace LLC is offering provides shareholders with the best of all worlds: liquidity at a higher price than News Corporation is offering and the opportunity to participate in the exciting future of MySpace.com as a free and independently thriving business, which will not happen if the News Corporation transaction is approved," stated Mr. Greenspan. "The current transaction with News Corporation significantly undervalues Intermix and MySpace.com, and the Intermix Board of Directors has failed to take the necessary steps to obtain the maximum value for Intermix stockholders, while at the same time unfairly rewarding Insiders as outlined on www.IntermixedUp.com."

Mr. Greenspan continued, "MySpace.com, the world's largest social networking forum, continues to enjoy phenomenal growth, and the most recent operating statistics support a much higher valuation than the proposed News Corporation transaction. MySpace.com has grown in value considerably since the proposed News Corp. deal was announced, with significant increases in page views, ads shown, and unique viewers. Nielsen Netratings reports an almost doubling of online display advertising for Myspace.com from 6.3% in May up to 12.9% of all online advertising impressions delivered online in August. MySpace is currently the #2 property online in terms of monthly page views, and users now spend more time viewing MySpace.com than almost any other web site online."

Greenspan concluded, "The continued growth prospects of MySpace.com, combined with Intermix' disclosure yesterday in an SEC filing of previously undisclosed interests of Intermix Management and Board insiders, underscores the inadequacy of both the process and the price in the News Corporation transaction. The fact that Intermix Management rushed to settle their investor lawsuits shows they know stockholders deserve a better deal. The proposal from FreeMySpace LLC delivers a better deal to stockholders, and transforms the business into one which I believe has the potential to achieve values in the coming years approaching that of other publicly traded online companies such as Google, Yahoo and EBay."

As described in the proposal to the Intermix Board of Directors, FreeMySpace LLC would acquire the shares sold by current Intermix stockholders and become the significant stockholders in Intermix. FreeMySpace LLC would look to complete this transaction within the next 60 days. Intermix would then complete the acquisition of MySpace, Inc. and transform the public company's business to focus exclusively on MySpace. The public company will also be renamed and trade as MySpace.

The proposed future strategy for MySpace.com includes the release of new cutting edge applications and services much like those offered by Google and Yahoo. New offerings will include both free and paid services, such as next generation Instant Messaging integrated with VOIP, and a free Web-based email like Hotmail. As the world's largest social networking forum with a loyal following among over 30 million users, MySpace is in a prime position to successfully launch these products to its large and established user base.

FreeMySpace LLC has advised the Intermix Board of Directors that representatives of FreeMySpace are available to discuss the acquisition proposal at the convenience of the Board.

Additional details regarding the acquisition proposal, conditions and financing of the proposed transaction will be set forth in the Schedule 13D filed to be filed today with the Securities and Exchange Commission.

Intermix security holders are advised to read that proxy statement when it becomes available, because it will contain important information. The proxy statement, along with any other relevant documents, will be available for free at www.sec.gov.

For more information, visit www.FreeMySpace.com and www.IntermixedUp.com or contact [email protected].

About FreeMySpace LLC

FreeMySpace LLC is a newly formed investor group led by Brad Greenspan, the largest non-insider stockholder of Intermix holding more than 4.2 million shares of Intermix stock or approximately 10% of Intermix. Brad was the sole founder of the group of Internet assets now called Intermix, and served as Chairman and CEO of the company until October 2003 when he left the company after trying to prevent the sale of dilutive preferred stock to VantagePoint. Under Brad's leadership and direction, the company created all of its significant Web properties including MySpace, Flowgo, and Skilljam.

SOURCE: FreeMySpace LLC


For FreeMySpace LLC 
Media: 
J.J. Rissi, 212-445-8224 
[email protected] 

Copyright Business Wire 2005

[setravis]

The Chart..........a nice run......