TheStreet.com, which operates a series of financial news sites, reported a fourth-quarter profit of nearly $213,000 compared to a loss of $2.2 million in the same quarter of 2012.
Revenue in the fourth quarter of 2013 was $14.8 million, an increase of 7.1 percent from $13.8 million in the prior year period. Subscription services revenue in the fourth quarter was $11.4 million, an increase of 9.7 percent compared to the prior year period.
The increase in subscription services revenue was primarily due to organic growth in subscription newsletters and The Deal, as well as revenues from the DealFlow acquisition. Media revenue in the fourth quarter was $3.4 million, a decrease of 0.9 percent compared to the prior year period.
The New York-based financial news company brought in new management in 2012 in an attempt to reverse its fortunes. CEO Elisabeth DeMarse and editor in chief William Inman have overhauled the company.
Operating expenses in the fourth quarter were $14.6 million, a decrease of 8.9 percent compared to the prior year period. Excluding restructuring and other charges and gain on disposition of assets, operating expenses decreased 5.9 percent compared to the prior year period.
For the year, TheStreet reported revenue of $54.5 million, a 7.4 percent increase. The net loss for the year was $3.8 million compared to a net loss of $12.7 million in the prior year.
The number of paid subscriptions for the company at the end of the year was 78,400, an increase of 20.9 percent from the prior year and 5.3 percent sequentially.
Read the earnings release here.
