TheStreet.com, Inc. (Nasdaq: TSCM; http://www.thestreet.com),
a leading digital financial media company, today announced that it will
delay its second-quarter 2009 earnings release and investor conference
call, previously scheduled for July 29, 2009.
The release and call are being delayed in order to allow the Company
adequate time to finalize its results for the second quarter ended June
30, 2009. The Company has identified an issue relating to its recording
of certain revenue in a non-core business, Promotions.com, that the
Company acquired in August 2007. The Company currently is assessing the
impact of this issue on the periods since the acquisition and has not
yet determined whether it will be required to restate any prior period
results.
The Company currently does not believe that this matter is likely to
result in any significant percentage revision to the revenue previously
reported by the Company or to the aggregate net income reported by the
Company since the acquisition of the Promotions.com business (although
the Company cannot give any assurances with respect to this matter as
its review is not yet complete), but may result in material revisions,
upward or downward, to the net income reported by the Company during any
one or more of the periods since the acquisition. This matter does not
affect the Company’s previously reported cash, cash equivalents,
restricted cash or marketable securities.
The Company is endeavoring to complete its review of this matter
expeditiously, but cannot presently give assurances as to when the
review will be completed. The Company will announce a new date and time
for its second-quarter 2009 earnings release and investor conference
call in a subsequent press release.
About TheStreet.com
TheStreet.com is a leading digital financial media company. The
Company’s network includes the following properties: TheStreet.com,
RealMoney.com,
Stockpickr.com,
BankingMyWay.com,
MainStreet.com,
Rate-Watch.com
and Promotions.com.
For more information and to get stock
quotes and business
news, visit http://www.thestreet.com.
TheStreet.com, Inc.
Investor Relations
Rebecca Updegraph,
212-321-5008
IR@thestreet.com
