-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, N2SqznCgM2j5SvxjdVP1tY5qsXPInnFcbqoIblv53o9TFbBPxWnYZhzqxUiiqQEZ 3J0qYY1Z39FL8HpyFmd5SA== 0001293282-09-000017.txt : 20090623 0001293282-09-000017.hdr.sgml : 20090623 20090623164325 ACCESSION NUMBER: 0001293282-09-000017 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090623 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090623 DATE AS OF CHANGE: 20090623 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TechTarget Inc CENTRAL INDEX KEY: 0001293282 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-BUSINESS SERVICES, NEC [7389] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-33472 FILM NUMBER: 09905759 BUSINESS ADDRESS: STREET 1: 117 KENDRICK ST STREET 2: SUITE 800 CITY: NEEDHAM STATE: MA ZIP: 02492 BUSINESS PHONE: 781-657-1000 MAIL ADDRESS: STREET 1: 117 KENDRICK ST STREET 2: SUITE 800 CITY: NEEDHAM STATE: MA ZIP: 02492 8-K 1 form8_k.htm FORM 8-K form8_k.htm
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.  20549
 
 
FORM 8-K
 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
 
Date of report (Date of earliest event reported): June 23, 2009
 
 
TECHTARGET, INC.
(Exact Name of Registrant as Specified in Charter)
 

 
Delaware
1-33472
04-3483216
(State or Other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
 
 
117 Kendrick Street, Needham, MA 02494
(Address of Principal Executive Offices)   (Zip Code)
 
Registrant’s telephone number, including area code:  (781) 657-1000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
¨           Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
 
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
 
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
 
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 

Item 2.02        Results of Operations and Financial Condition
 
On June 23, 2009 TechTarget, Inc. (the "Company") issued the press release attached hereto as Exhibit 99.1. The full text of the press release issued in connection with the announcement is included herein as Exhibit 99.1 and incorporated herein by reference.
 
The information furnished under Item 2.02 of this Current Report, including Exhibit 99.1 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference in such filing.
 
 
Item 9.01                      Financial Statements and Exhibits
 
The following exhibit relating to Item 2.02 shall be deemed to be furnished, and not filed:
 
(d)            Exhibits
 
        99.1    Press Release issued by the Company on June 23, 2009.
 

SIGNATURE
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
  TECHTARGET, INC.  
       
Date:  June 23, 2009
By:
/s/ ERIC SOCKOL  
   
Eric Sockol
 
   
Treasurer and Chief Financial Officer
 
       
 
 

EXHIBIT INDEX
 
Exhibit No.
Description
   
 
EX-99.1 2 ex99_1.htm PRESS RELEASE DATED JUNE 23, 2009 ex99_1.htm
Exhibit 99.1
TechTarget Financial Update

 
Needham, MA – June 23, 2009 – TechTarget, Inc. (NASDAQ: TTGT) is today announcing that it intends to file its 2008 Annual Report on Form 10-K by July 15, 2009 and its Quarterly Report on Form 10-Q for the three months ended March 31, 2009 during the first week in August.

Preliminary revenues for the first quarter of 2009 are expected to be in the upper end of the revenue guidance previously provided by the Company.  Preliminary adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization, as further adjusted for stock-based compensation) for the first quarter is expected to exceed the upper end of the guidance range.

On February 12, 2009, the Company provided financial guidance for the first quarter of 2009 of total revenues within the range of $17 million to $18 million and adjusted EBITDA to be in the range of negative $700,000 to positive $200,000. The change in accounting method for recognizing revenues is not expected to have a material impact on first quarter results.

For the second quarter of 2009, the Company expects total revenues to increase sequentially over the first quarter by approximately 20%. Furthermore, the Company expects the adjusted EBITDA margin for the second quarter to be in the range of 15% - 20% of total revenues.

“We are pleased that the preliminary revenues and adjusted EBITDA demonstrate that our business is strong,” said Greg Strakosch, Chairman and CEO of TechTarget.  “Our primary focus continues to be to take advantage of the downturn by investing and growing market share, while maintaining healthy profitability”.

Use of Preliminary Results
It is important to note that the amounts set forth above with respect to the first quarter of 2009 and projected results of the second quarter of 2009 are estimated results and may change as the Company completes its review.

Non-GAAP Financial Measures
This press release includes a discussion of adjusted EBITDA which is a non-GAAP financial measure provided as a complement to results provided in accordance with accounting principles generally accepted in the United States of America ("GAAP"). The term "adjusted EBITDA" refers to a financial measure that we define as earnings before net interest, income taxes, depreciation, and amortization, as further adjusted for stock-based compensation.  This Non-GAAP measure should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. In addition, our definition of adjusted EBITDA may not be comparable to the definition as reported by other companies. We believe adjusted EBITDA is relevant and useful information because it provides us and investors with an additional measurement to compare the Company’s operating performance. This measure is part of our internal management reporting and planning process and is a primary measure used by our management to evaluate the operating performance of our business, as well as potential acquisitions. The components of adjusted EBITDA include the key revenue and expense items for which our operating managers are responsible and upon which we evaluate their performance. In the case of senior management, adjusted EBITDA is used as the principal financial metric in their annual incentive compensation program. Adjusted EBITDA is also used for planning purposes and in presentations to our board of directors.  Furthermore, we intend to provide this non-GAAP financial measure as part of our future earnings discussions and, therefore, the inclusion of these non-GAAP financial measures will provide consistency in our financial reporting.

Forward Looking Statements 
Certain matters included in this press release may be considered to be "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of the company and members of our management team. All statements contained in this press release, other than statements of historical fact, are forward-looking statements, including those regarding: guidance on our future financial results and other projections or measures of our future performance; our expectations concerning market opportunities and our ability to capitalize on them; and the amount and timing of the benefits expected from acquisitions, from new products or services and from other potential sources of additional revenue. Investors and prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. These statements speak only as of the date of this press release and are based on our current plans and expectations, and they involve risks and uncertainties that could cause actual future events or results to be different than those described in or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, those relating to: market acceptance of our products and services; relationships with customers, strategic partners and our employees; difficulties in integrating acquired businesses; and changes in economic or regulatory conditions or other trends affecting the Internet, Internet advertising and information technology industries. These and other important risk factors are discussed or referenced in our Annual Report on Form 10-K filed with the Securities and Exchange Commission, under the heading "Risk Factors" and elsewhere, and any subsequent periodic or current reports filed by us with the SEC. Except as required by applicable law or regulation, we do not undertake any obligation to update our forward-looking statements to reflect future events or circumstances.

About TechTarget
TechTarget, a leading online technology media company, gives technology providers ROI-focused marketing programs to generate leads, shorten sales cycles, and grow revenues.  With its network of more than 60 technology-specific websites and more than 7.5 million registered members, TechTarget is a primary Web destination for technology professionals researching products to purchase.  The company is also a leading provider of independent, peer and vendor content, a leading distributor of white papers, and a leading producer of webcasts, podcasts, videos and virtual trade shows for the technology market.  Its websites are complemented by numerous invitation-only events.  TechTarget provides proven lead generation and branding programs to top advertisers including Cisco, Dell, EMC, HP, IBM, Intel, Microsoft, SAP and Symantec.

 
(C) 2009 TechTarget, Inc. All rights reserved. TechTarget and the TechTarget logo are registered trademarks of TechTarget, Inc. All other trademarks are the property of their respective owners.

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