/ CORRECTION - SourceForge, Inc.MOUNTAIN VIEW, CA -- 05/27/2008 -- In the news release, "SourceForge Reports Third Quarter Fiscal 2008 Results," issued yesterday by SourceForge, Inc. (NASDAQ: LNUX), we are advised by the company that in the first section of the Condensed Consolidated Statements of Operations table, the "Restructuring costs" and "Operating income (loss) from continuing operations" rows were inadvertently duplicated, and the final number of the "Operating income (loss) from continuing operations" row should read "3,338" rather than "3,3338." The corrected text of the first section of the table follows.
SourceForge, Inc.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data)
(unaudited)
Three Months Ended Nine Months Ended
April 30, April 30,
------------------ ------------------
2008 2007 2008 2007
-------- --------- -------- ---------
Online Media revenue $ 5,122 $ 5,073 $ 13,750 $ 12,603
E-commerce revenue 6,664 5,179 30,236 22,917
-------- --------- -------- ---------
Net revenue 11,786 10,252 43,986 35,520
-------- --------- -------- ---------
Online Media cost of revenue 1,885 1,194 5,188 3,484
E-commerce cost of revenue 5,449 4,171 22,749 17,322
-------- --------- -------- ---------
Cost of revenue 7,334 5,365 27,937 20,806
-------- --------- -------- ---------
Gross margin 4,452 4,887 16,049 14,714
-------- --------- -------- ---------
Operating expenses:
Sales and marketing 2,063 1,423 5,937 4,284
Research and development 1,136 933 3,006 2,760
General and administrative 1,936 1,435 6,407 4,332
Restructuring costs - - 1,414 -
-------- --------- -------- ---------
Total operating expenses 5,135 3,791 16,764 11,376
-------- --------- -------- ---------
Operating income (loss) from
continuing operations (683) 1,096 (715) 3,338
Interest and other income, net 217 719 1,549 2,150
-------- --------- -------- ---------
Income (loss) from continuing
operations before income taxes (466) 1,815 834 5,488
Provision (benefit) for income
taxes (27) 54 178 239
-------- --------- -------- ---------
Income (loss) from continuing
operations (439) 1,761 656 5,249
Income from discontinued operations - 4,730 - 2,878
-------- --------- -------- ---------
Net income (loss) $ (439) $ 6,491 $ 656 $ 8,127
======== ========= ======== =========
Income (loss) per share from
continuing operations:
Basic $ (0.01) $ 0.03 $ 0.01 0.08
======== ========= ======== =========
Diluted $ (0.01) $ 0.03 $ 0.01 0.08
======== ========= ======== =========
Income per share from discontinued
operations:
Basic $ 0.00 $ 0.07 $ 0.00 0.04
======== ========= ======== =========
Diluted $ 0.00 $ 0.07 $ 0.00 0.04
======== ========= ======== =========
Net income (loss) per share:
Basic $ (0.01) $ 0.10 $ 0.01 0.12
======== ========= ======== =========
Diluted $ (0.01) $ 0.09 $ 0.01 0.12
======== ========= ======== =========
Shares used in computing earnings
per share:
Basic 67,475 67,614 67,440 66,564
======== ========= ======== =========
Diluted 67,475 69,200 67,702 68,839
======== ========= ======== =========
CONTACT:
Patty Morris
Chief Financial Officer
SourceForge, Inc.
(650) 694-2164
pmorris@corp.sourceforge.com
