This story was written by Joseph Weisenthal.
Weddings site The Knot announced Q1 revenue of $23.8 million, up $21 million from the year-ago quarter. Net income fell significantly, from to $579,000 ($.02 per share) from $1.6 million ($.02 per share), which the company attributed to increased investment in its technology platform and its sales and marketing efforts. Given the size of the company, this is plenty plausible. Online ad revenue grew 20 percent to $12.9 million, while e-commerce sales, at $6.4 million, were flat year over year. Also a financial note: They're the latest to get caught up in the illiquid auction rate securities market, prompting it to take a hit of $1.1 million to shareholder equity.
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By Joseph Weisenthal