LONDON, UK / ACCESSWIRE / October 25, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Limelight Networks, Inc. (NASDAQ: LLNW), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=LLNW, following the Company's release of its third quarter fiscal 2017 operating results on October 18, 2017. The global leader in digital content delivery outperformed top- and bottom-line expectations, hence raising its guidance for the fiscal year 2017. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Earnings Reviewed

Limelight Networks reported revenue of $46.1 million for Q3 2017, up 17% compared to $39.5 million in Q3 2016. The Company stated that foreign currency exchange negatively impacted y-o-y comparisons by $0.2 million, or less than 1%. Limelight Networks' revenue numbers exceeded analysts' estimates of $43 million.

During Q3 2017, Limelight Networks' gross margin was 48.4%; representing an increase of 730 basis points from 41.1% in Q3 2016 and a record high for the Company, driven by pricing discipline and operational efficiencies. Limelight Networks posted cash gross margin of 58.9%; an increase of 610 basis points y-o-y.

On a GAAP basis, Limelight Networks reported a net loss of $1.8 million, or $0.02 per basic share, for Q3 2017 compared to a net loss of $6.1 million, or $0.06 per basic share, in Q3 2016. The Company posted non-GAAP net income of $2.2 million, or $0.02 per basic share, for the reported quarter compared to a non-GAAP net loss of $0.3 million, or break-even per basic share, in the year-ago same period. Limelight Networks' earnings came in better than Wall Street's estimates of $0.00 per share.

During Q3 2017, Limelight Networks' earnings before interest, tax, depreciation, and amortization (EBITDA) was $3.4 million compared to negative $0.7 million for Q3 2016. The Company's adjusted EBITDA was $7.4 million for the reported quarter compared to $5.1 million for the year-ago corresponding period.

Cash Matters

Limelight Networks had cash and marketable securities of $57.7 million at the end of Q3 2017. The Company's accounts receivable increased $600,000, while accounts payable decreased $2 million, driving the change in cash from the previous quarter. Limelight Networks also made its fifth of twelve, $4.5 million payments for the settlement with Akamai, and also spent $5.3 million on capital expenditure in the reported quarter.

Limelight Networks' days sales outstanding (DSO) as of September 30, 2017, was 55 days, consistent with the end of Q4 2016. The Company had approximately 110 million shares outstanding as of September 30, 2017. Limelight Networks ended Q3 2017 with 535 employees and employee equivalents, up from 533 employees at the end of Q2 2017, and up from 502 employees in the year-ago comparable period. The Company stated that the increase in headcount was related to additional operational support, and sales and marketing personnel.

Outlook

Limelight Networks noted that in light of the strength of its results, the Company is raising guidance for its full-year 2017 revenue, gross margin, non-GAAP earnings per share, and adjusted EBITDA. The Company is estimating full-year earnings in the range of $0.06 to $0.08 per share, with revenue in the band of $182 million to $185 million with an expansion of more than 450 basis points over FY16. Limelight Networks foresees 2017 operating performance to be its best ever, and is planning to improve further in 2018.

Stock Performance

At the closing bell, on Tuesday, October 24, 2017, Limelight Networks' stock dropped 2.64%, ending the trading session at $4.80. A total volume of 926.05 thousand shares have exchanged hands, which was higher than the 3-month average volume of 444.12 thousand shares. The Company's stock price skyrocketed 43.28% in the last three months, 62.71% in the past six months, and 141.21% in the previous twelve months. Moreover, the stock soared 90.48% since the start of the year. The stock currently has a market cap of $524.84 million.

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SOURCE: Pro-Trader Daily