When the CEO of a company you are invested in says something like this (below) I couldn't think of a better reason to (a) have tremendous confidence in the company and (b) encourage me to buy more. Regardless of whether it's a huge conglomerate like Ford or Boeing, or a tiny microcap like Limelight Networks (LLNW) I am thrilled to be in this, and looking forward to watching them grow in 2017 and beyond.
As for the numbers:
Limelight Networks, Inc. (LLNW) (Limelight), a global leader in digital content delivery, today reported revenue of $45.4 million for the second quarter of 2017, up four percent compared to $43.6 million in the second quarter of 2016, and up one percent compared to $44.7 million in the first quarter of 2017. Currency headwinds negatively impacted year-over-year comparison by $0.3 million, or one percent.
Gross margin was 47.1% in the second quarter of 2017, an increase of 390 basis points from 43.2% in the second quarter of 2016. On a GAAP basis, Limelight reported a net loss of $1.6 million, or $0.01 per basic share, for the second quarter of 2017, compared to a net loss of $57.9 million, or $0.56 per basic share, in the second quarter of 2016. The second quarter of 2016 net loss included a $54 million provision for litigation related to the settlement of the Akamai lawsuit. Non-GAAP net income was $2.9 million, or $0.03 per basic share, for the second quarter of 2017, compared to non-GAAP net income of $0.6 million, or $0.01 per basic share, in the second quarter of 2016.
And thus goes the first report of my earnings season. Tomorrow, we hear from DelTaco (TACO) after the market close. I'm still contemplating adding more, but it might be prudent to wait and see what they have to say. Chipolte had a nice quarter, as did McDonald's. But Buffalo Wild Wings stunk it up, and the stock was halted. Ended the day down about 9% after saying that the price of chicken wings was a headwind. Gee, when your business is serving chicken wings, I'd think that you should be better at managing that obstacle. Having eaten there a time or two, I wouldn't buy the stock based on my experience.
The casual dining area is difficult, and if DelTaco can impress with a strong quarter and put out a nice forecast for the remainder of the year, it would present an attractive buying opportunity for long-term investors.