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Musicmystery -> RE: BOYCOTT OF LIMBAUGH WORKS! (3/7/2012 6:20:03 AM)
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quote:
investors flee carbonite
Gosh, maybe this is why...
In Carbonite’s most recent Quarterly filing with the Securities and Exchange Commission, Carbonite discloses that it loses money hand over fist, and is expected to do so for the foreseeable future:
Risks Related to Our Business
We have experienced losses and negative cash flow since our inception, and we may not be able to achieve or sustain profitability or positive cash flow in the future.
We experienced net losses of $17.4 million for 2008, $19.2 million for 2009, $25.8 million for 2010, and $17.4 million for the nine months ended September 30, 2011, respectively, and have an accumulated deficit of $94.3 million as of September 30, 2011.
We have not generally achieved positive cash flow from our operations or reported net income, and we do not expect to be profitable for the foreseeable future. We expect to continue making significant expenditures to develop and expand our business, including for advertising, customer acquisition, technology infrastructure, storage capacity, product development, and international expansion, in an effort to increase and service our customer base.
In 2011, we have incurred, and expect to continue to incur, increased expenses associated with the relocation of one of our data centers to a new facility, and with relocating our customer service operations from India to the U.S., which will adversely affect our operating results for 2011. We also expect that our quarterly results may fluctuate due to a variety of factors described elsewhere in this Quarterly Report on Form 10-Q, including the timing and amount of our advertising expenditures, which are seasonal, as well as the timing and amount of expenditures related to the development of technologies and solutions and to defend intellectual property infringement and other claims.
In addition, as a public company, we incur significant legal, accounting and other expenses, including increased costs for director and officer liability insurance that we did not incur as a private company. We may also incur increased losses and negative cash flow in the future for a number of reasons, and we may encounter unforeseen expenses, difficulties, complications, delays, and other unknown events.
For these reasons, we expect to continue to record net losses for the next several years and we may not be able to achieve or maintain positive cash flow from operations or profitability.
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