Quote:
Originally Posted by Gozarian
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Yes they file this since a few years, seen it before but I did not seen 2011 yet...
So a quick read:
http://globaldocuments.morningstar.c...10k-123111.htm
Webcams represent 25% of FFN revenue: $81 million in 2011 (6+ million a month, $220,000 a day), $76m 2010, $60m in 2009 (it grow 5-10 mil a year). Paid $25 million to models/studios in 2011 ($2 million a month, $62,000 a day). Paid affiliates $64 million in 2011 (47% of revenue contributed by affiliates, rest is own acquired sources?). It would be $8 million for cam affiliate only (25% of 47% of $64m, includes shaving?) then $25m + $8m = $33 million cost, so $81m - $33m = 48m income/profit, this is too much. Let's say 100% cam sales got affiliate to pay (worst case), it is 25% of $64m = $16m (1.3m a month, $43k a day), so cost 25+16=41m, income(profit) 81-41=$40 million.
So per day is $220k revenue(sales), costs(expense) is $62k paid to models (some 30%, it fits and confirms what they pay average), and $43k paid to affiliates, income(profit) it would be $100k+ a day, excludes hosting, management etc.
But they have other things so much in loss that it eats cam income and more: "for the years ended December 31, 2011, 2010 and 2009, we had net losses of $31.1 million, $43.2 million and $41.2 million, respectively.".
MFC, streamate etc. are cam-only, so no business branches in loss. Livejasmin really does a little of everything include real estate, it si a diversified thing just it started with cams and ended up as general enterpreneurs.
By the way there's an european public company with cams too: dreamnex SA (now Dnxcorp SA) it owns xcams.com:
https://europeanequities.nyx.com/en/...ny-information
http://markets.ft.com/research/Marke...ials?s=DNX:PAR
This is the 2012 report (in french...):
http://www.dnxcorp.com/uploads/Rappo...ier%202012.pdf
It is not as easy as FFN one because luxembourgh, malta and all the tricks to optimise european soviet taxes. Cams it should be besite it says profit 2.2 million eur from 15 million revenue, some 15% net profit (consider europe vat 20% is gone in tax, if 15% left of income it looks small to you) no details on payout for affiliate or models, would be sales 41k eur a day some $52k dollar a day.
Any other public companies with cams?