LLNW - Limelight Networks tumbles 12.5% amid swing to loss in Q4; new CEO pledges turnaround

Limelight Networks (LLNW) has slid 12.5% after hours following fourth-quarter earnings where it posted a surprise loss in adjusted terms, and revenues sank worse than expected. Revenues fell 7.8% to $55.4M, and it swung to a GAAP loss of $8.3M vs. a year-ago gain of $2.5M (this quarter's figure included $2.2M in interest expense tied to convertible notes). On a non-GAAP basis, it swung to a loss of $3.8M vs. a year-ago gain of $5.8M. EBITDA was down to $3.6M from $11.4M. New CEO Bob Lyons says “Our immediate focus is the challenges we faced in the fourth quarter, specifically top-line growth and the resulting pressure on margins. Quite frankly, performance in these areas is not where it should be. I believe in our ability to close the gaps and position Limelight as a leader delivering edge-based solutions." Cash and equivalents came to $46.8M as of Dec. 31, vs. $18.34M

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Limelight Networks tumbles 12.5% amid swing to loss in Q4; new CEO pledges turnaround