RetailMeNot Defends Against Mary Kay's Attack on Free Speech and the Fair Use of Publicly Available Information on the Internet in Answer Filed in Federal District Court
May 21 15
RetailMeNot, Inc. has filed its answer to the lawsuit brought by Mary Kay Inc. in which Mary Kay Inc. attempts to restrict information about it on RetailMeNot.com and other websites owned by RetailMeNot, Inc. RetailMeNot, Inc. rejects Mary Kay's attack on the rights of Americans using its websites to freely exchange publicly available information over the Internet. By filing this answer to Mary Kay's complaint, RetailMeNot believes it is protecting the interests of consumers in a case that could have a negative impact on online content and service providers. Mary Kay's attempt to use trademark law in a manner that is inconsistent with fundamental principles of free speech should alarm consumers because it would deprive them of access to information about digital offers for their favorite retailers and brands. In its lawsuit filed in March 2015 against RetailMeNot, Inc., Mary Kay Inc. asked the court to prohibit all references to Mary Kay by name on RetailMeNot.com. If Mary Kay's legal theories in the lawsuit were correct, the operator of a website like RetailMeNot.com could not use the Mary Kay name in order to refer to Mary Kay or report on information about digital offers for Mary Kay products without Mary Kay Inc.'s permission. Mary Kay Inc. has brought the lawsuit against RetailMeNot, Inc. to stop it from referring to Mary Kay by name and reporting on publicly available information about offers for products on the MaryKay.com website. The lawsuit comes despite the fact that RetailMeNot, Inc. shares this publicly available information with consumers without receiving any revenue as a result and there is only nominal traffic to RetailMeNot.com involving Mary Kay. RetailMeNot, Inc. has therefore been forced to litigate this case and defend its right to continue to play an important role in a free and open internet.
RetailMeNot, Inc. Announces Executive Changes Effective June 1, 2015
May 21 15
Steven T. Pho has resigned from his position as Senior Vice President, Corporate Development of RetailMeNot, Inc. effective June 1, 2015. Michael Magaro, RetailMeNot's current Vice President, Investor Relations, has been appointed Senior Vice President, Corporate Development and Investor Relations also effective as of June 1, 2015. Mr. Magaro has served as RetailMeNot's Vice President, Investor Relations since May 2013. He previously served as Vice President of Investor Relations, Strategic Operations and Corporate Development at ServiceSource from August 2012 to May 2013. Prior to that, he served as Vice President of Investor Relations at Taleo and FormFactor from July 2010 to June 2012 and January 2008 to September 2010, respectively.
RetailMeNot, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter Ending June 30, 2015 and Full Year of 2015
May 5 15
RetailMeNot, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2015. For the quarter the company’s net revenues were $60,384,000 compared to $61,270,000 a year ago. Income from operations was $7,116,000 compared to $10,824,000 a year ago. Income before income taxes were $6,452,000 compared to $10,321,000 a year ago. Net income was $4,059,000 compared to $6,075,000 a year ago. Net income attributable to common stockholders was $4,059,000 compared to $6,075,000 a year ago. Diluted net income per share attributable to common stockholders was $0.07 compared to $0.11 a year ago. Adjusted EBITDA was $18,675,000 compared to $21,390,000 a year ago. Total non-GAAP net income was $10,774,000 compared to $12,617,000 a year ago. Diluted non-GAAP net income per share was $0.20 compared to $0.23 a year ago. GAAP effective tax rate was 37.1 % compared to 41.1 % a year ago. Non-GAAP effective tax rate was 35.5% compared to 37.3% a year ago. Net cash provided by operating activities was $30,622,000 compared to $18,307,000 a year ago. Purchase of other assets was $2,000. Purchase of property and equipment was $2,332,000 compared to $2,393,000 a year ago.
For second quarter ending June 30, 2015, the company total net revenues are expected to be in the range of $55.0 to $58.0 million, or a decline of 5% at the mid-point, adjusted EBITDA is expected to be in the range of $12.0 to $14.0 million, or adjusted EBITDA margins of 23% at the mid-point. The company expects depreciation and amortization expense to be approximately $4.4 million; CapEx to be approximately $4 million, primarily reflecting investments in facilities and other employee-related growth.
For full year of 2015, the company total net revenues are expected to be in the range of $275 to $285 million, or growth of 6% at the mid-point, adjusted EBITDA is expected to be in the range of $92 to $100 million, or adjusted EBITDA margins of 34% at the mid-point.