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As of 8:04 PM 03/2/15 All times are local (Market data is delayed by at least 15 minutes).

xo group inc (XOXO) Key Developments

XO Group Inc. Announces Executive Changes

On December 16, 2014, XO Group Inc. announced that the husband and wife team of David Liu and Carley Roney are stepping down from their positions as executive officers of the company, effective, for Mr.Liu, December 15, 2014 and for Ms. Roney, December 31, 2014. Mr. Liu, Co-Founder of the Company, who since April 2014 has been serving as the company's executive officer in charge of Ijie, has agreed to continue as a member of the Board of Directors and currently serves as Non-Executive Chairman of the Board. Ms. Roney is stepping down from her employment as chief content officer of the Company but will continue to advise the Company as Brand Ambassador and in other advisory capacities.

XO Group Commits to Close Down Wedding Supplies Fulfillment Operations, by the End of First Quarter 2015

XO Group announced that it has committed to closing down its wedding supplies fulfillment operations. The company expects to complete the closure of this facility by the end of first quarter 2015.

XO Group Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Reaffirms Revenue Guidance for 2014

XO Group Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported total net revenue of $35,858,000 compared to $33,968,000 reported a year ago. Income from operations was $4,329,000 compared to $5,252,000 reported a year ago. Income before income taxes was $4,318,000 compared to $5,238,000 reported a year ago. Net income was $2,084,000 or $0.08 per diluted share compared to $3,101,000 or $0.12 per diluted share reported a year ago. Free cash flow was $6,346,000 compared to $3,926,000 for the same period of last year. Adjusted EBITDA was $7,054,000 compared to $7,992,000 for the same period of last year. Adjusted income before income taxes was $3,726,000 compared to $5,238,000 for the same period of last year. Adjusted net income was $2,303,000 compared to $3,101,000 for the same period of last year. Adjusted net income per diluted share was $0.09 compared to $0.12 for the same period of last year. Net cash provided by operating activities was $7,675,000 compared to $5,788,000 for the same period of last year. Capital expenditures were $1,329,000 compared to $1,862,000 for the same period of last year. For the nine months, total net revenue was $106,608,000 compared to $101,229,000 reported a year ago. Income from operations was $8,194,000 compared to $14,422,000 reported a year ago. Income before income taxes was $8,006,000 compared to $14,318,000 reported a year ago. Net income was $4,455,000 or $0.17 per diluted share compared to $8,862,000 or $0.35 per diluted share reported a year ago. Free cash flow was $7,580,000 compared to $10,693,000 for the same period of last year. Adjusted EBITDA was $18,796,000 compared to $22,298,000 for the same period of last year. Adjusted income before income taxes was $8,768,000 compared to $14,318,000 for the same period of last year. Adjusted net income was $5,419,000 compared to $8,862,000 for the same period of last year. Adjusted net income per diluted share was $0.21 compared to $0.35 for the same period of last year. Net cash provided by operating activities was $11,553,000 compared to $15,354,000 for the same period of last year. Capital expenditures were $3,973,000 compared to $4,661,000 for the same period of last year. For the full year of 2014, the company continues to expect single digit total revenue growth.

XO Group Inc. Appoints Diane Irvine, to Board of Directors as an Independent Director

XO Group Inc. announced that Diane Irvine, former Chief Executive Officer and President of Blue Nile Inc., has been appointed to the company's board of directors as an independent director and will serve as chairperson of the Compensation Committee. Irvine will be filling the vacancy created by Ira Carlin's departure from the board. With this transition, the board will consist of eight directors, six of whom are independent, and five of whom have joined the board in the last two years. Irvine will serve in the class of directors to be elected at the 2015 annual meeting. Irvine currently serves on the Board of Directors of Yelp Inc., Rightside Group Ltd., and CafePress Inc. From 2008 to 2011, Irvine served as Chief Executive Officer and President of Blue Nile Inc.,She joined Blue Nile as Chief Financial Officer in 1999 and also served on Blue Nile's Board of Directors from 2001 to 2011. Under Irvine's executive leadership, Blue Nile revolutionized the consumer experience for purchasing diamonds and jewelry, becoming the world leader and a highly regarded consumer brand. In her 12 years at Blue Nile, Irvine guided the business from its early days as a start-up to a publicly traded company with nearly $350 million in revenue.

XO Group Inc. Plans to Cease Operations at its Warehouse in Redding, California

XO Group Inc. announced that it plans to cease operations at its warehouse in Redding, California and about 72 full-time and 39 part-time employees will be impacted. The company's decision to cease operations at the warehouse took into account that the company's manufacturing operations have experienced significant revenue declines over the past three years and were expected to continue to experience declines. The actions are expected to reduce operating costs by about $6.0 million to $7.0 million, annualized, directly related to these fulfillment operations, after the completion of the warehouse closure. The process of the warehouse closure is expected to be completed by end of the first quarter of 2015.

 

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XOXO

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Valuation XOXO Industry Range
Price/Earnings 100.0x
Price/Sales 2.8x
Price/Book 2.4x
Price/Cash Flow 56.7x
TEV/Sales 2.4x
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