Yahoo sees revenue climb this year, but long road ahead

(Reuters) – Yahoo Inc forecast a modest uptick in revenue for the current year as it revamps its family of websites but Chief Executive Marissa Mayer warned it would be a long journey to revive the Internet company‘s fortunes.

In Yahoo‘s first financial outlook since Mayer became CEO in July, the company outlined a plan to trigger a “chain reaction of growth” by overhauling a dozen of its online services to increase the amount of time users spent on its websites.

It also pointed to strength in its search advertising business and progress made in improving its internal operations.

Yahoo’s shares were 3 percent higher in after hours trade after the revenue projection was disclosed during an analysts conference call, shedding some ground after earlier rising as much as 4.5 percent.

But weakness in Yahoo’s display ad business, which accounts for roughly 40 percent of the company’s total revenue, caught some analysts by surprise.

“While the road to growth is certain, it will not be immediate,” said Mayer, a former Google Inc executive and Yahoo’s third full-time CEO since September 2011.

Yahoo said that revenue, excluding fees it pays to partner websites, will range between $ 4.5 billion and $ 4.6 billion in 2013, implying an annual growth rate of 0.7 percent to 3 percent.

Finance Chief Ken Goldman also warned investors to expect “an investment phase” in the first half of the year, which he said would impact profit margins.

“What was clear from the call is that this is a long-term turnaround story,” said Macquarie Research analyst Ben Schachter. “We shouldn’t expect anything to just snap back and correct itself.”

During the fourth quarter, Yahoo’s net revenue increased 4 percent year-on-year to $ 1.22 billion, as search advertising sales offset a 10 percent decline in the number of display ads sold on Yahoo’s core properties.

Mayer said the decline was the result of less activity by visitors to its popular websites, such as its Web email service, and to a lesser extent due to users accessing the Web on smartphones, where Yahoo’s ad business is not as strong.

Efforts to revamp its mobile properties, begun last year with a redesign of the photo-sharing service Flickr, remain on track, said Mayer, noting that Yahoo now has 200 million monthly mobile users.

“From a monetization perspective this is still a very nascent source of revenue for us. With any platform shift, revenue always followed users and mobile will be no different,” she said.

Mayer took over after a tumultuous period at Yahoo in which former CEO Scott Thompson resigned after less than 6 months on the job over a controversy about his academic credentials and in which Yahoo co-founder Jerry Yang resigned from the board and cut his ties with the company.

Yahoo’s stock has risen roughly 30 percent since Mayer took the helm, reaching its highest levels since 2008.

Part of the stock’s rise has been driven by significant stock buybacks, using proceeds from a $ 7.6 billion deal to sell half of its 40 percent stake in Chinese Internet company Alibaba Group, said Sameet Sinha, an analyst with B. Riley Caris.

Yahoo said it repurchased $ 1.5 billion worth of shares during the fourth quarter.

The company’s fourth-quarter net income was $ 272.3 million, or 23 cents per share, versus $ 295.6 million, or 24 cents per share in the year-ago period.

Excluding certain items, Yahoo said it had earnings per share of 32 cents, versus the average analyst expectation of 28 cents according to Thomson Reuters I/B/E/S.

For the first quarter, Yahoo said it expects revenue, excluding partner website fees, of $ 1.07 billion to $ 1.1 billion, trailing the $ 1.1 billion that Wall Street analysts expect on average.

Shares of Yahoo were up 59 cents at $ 20.90 in after-hours trading on Monday.

(Reporting by Alexei Oreskovic; Editing by Phil Berlowitz and Edwina Gibbs)

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Oprah Winfrey Fashion Flashback

She can afford the best stylist money can buy, but that's not to say Oprah Winfrey hasn't had her fair share of fashion misses (along with a great deal of hits) over her extensive career. 

Pics: Two Looks, One Star!

Join us as we look back at Lady O's changing styles through the years!

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Miami Herald Business Plan Challenge opens for entries

Entrepreneurs, please don’t let the name of our contest scare you.

As we launch our 15th annual Miami Herald Business Plan Challenge today, we are putting out our annual call for entries. But we aren’t looking for long, laboriously detailed business plans. Quite the contrary.

More and more, today’s investors in very early stage companies want to see a succinct presentation of your concept and how you plan to turn it into a success. We do, too.

If you have a business idea or an operating startup that is less than two years old, you can enter the Challenge, our annual celebration of South Florida entrepreneurship. Sponsored by the Pino Global Entrepreneurship Center at Florida International University, our contest has three tracks — a Community Track, open to all South Floridians; an FIU Track, open to students and alumni of that university; and a High School Track, co-sponsored by the Network for Teaching Entrepreneurship.

Your entry may be up to three pages and you may attach one additional page for a photo, rendering, diagram or spreadsheet if you wish. Think of it as a meaty executive summary. Experts in all aspects of entrepreneurship — serial entrepreneurs, executives, investors, advisors and finance specialists (see judge bios on MiamiHerald.com/challenge) — will judge your short plan. In doing so, they will be looking at your product or service’s value to the customer, market opportunity, business model, management team and your marketing and financial strategies. See the rules on page 22, which also include tips on preparing your entry.

Your entry is due by 11:59 p.m. March 11. Entries should be sent to challenge@miamiherald.com, fiuchallenge@miamiherald.com or highschoolchallenge@miamiherald.com.

Don’t worry, we’re here to help!

“Frame your business from your customer’s perspective and not yours. Rather than diving into a detailed explanation of your product or service, a more compelling way to tell your business story is to clearly share the problem that you are solving for your customers and how your business is different, better, faster, cooler, cheaper, smarter,” says Melissa Krinzman, managing director of Venture Architects and a veteran Challenge judge.

On Feb 26 at 6:30 p.m. at Miami Dade College, we’ll host a free Business Plan Bootcamp, where you can bring your working plan with you for advice from experts, including Krinzman. Find the sign-up link on MiamiHerald.com/challenge.

And each week in Business Monday and on MiamiHerald.com/challenge, we’ll be bringing you advice and answering your questions. You can post your questions on the Q&A on MiamiHerald.com/challenge or email your questions to me at ndahlberg@miamiherald.com. Follow @ndahlberg on Twitter.

The top six finalists in the Community and FIU Tracks will present their 90-second elevator pitches for our popular video contest. Last year our People’s Pick contest drew more than 18,000 votes.

On May 6, in a special section of Business Monday, we will profile the winners — the judges’ top three selections in each track plus the People’s Pick winners. Along the way, we will unveil semifinalists and finalists to keep the suspense building.

Today, though, we are looking back on the entrepreneurial journeys of our 2012 winners. Funding was a nearly universal challenge, and many faced setbacks in developing their platforms. Throughout the entry period, we’ll also look back on other winners from the past 14 years.

Show us what you’ve got. Let’s make this the best Challenge yet.

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Free-market conservative leads Gov. Rick Scott’s jobs agency

TALLAHASSEE --
The Department of Economic Opportunity is one of the most critical agencies in Gov. Rick Scott’s administration, and it has run through four directors — two permanent, two interim — since it launched 16 months ago.

After the fleeting tenures of three bureaucrats and a banker, Scott’s handpicked director, Jesse Panuccio, began his term as the agency’s fifth director three weeks ago.

Panuccio, a 32-year-old attorney, is an outside-the-box choice for jobs chief. He graduated from Harvard Law School in 2006 and has been on Scott’s legal team since 2011, becoming the governor’s chief litigant last year.

After defending some of Scott’s most controversial laws in the courtroom, Panuccio faces the crucial task of executing the governor’s job-creation strategy from the state’s official boardroom.

“I chose Jesse for three reasons,” Scott said in a statement. “He is a problem solver, he is a skilled manager of people and he is experienced at holding people and organizations accountable.”

After graduating from Harvard Law, Panuccio clerked for a federal judge and then joined a boutique law firm in Washington, D.C. The New Jersey native said he took the Florida Bar Exam after spending much of his childhood vacationing in the Sunshine State, and was drawn to Scott’s campaign message in 2010. He left Washington and joined the governor’s transition team as deputy general counsel in January 2011.

Throughout Panuccio’s brief professional career, he has fought legal battles in support of conservative causes ranging from gun rights to traditional marriage to state’s rights. His new position will require a full embrace of Scott’s conservative job-creation agenda: less regulation, taxation and litigation.

“My overall view is that the economy, the free market flourishes when government gets out of the way,” he said.

The Department of Economic Opportunity, or DEO, is 1,600-person agency responsible for overseeing many of the state’s economic development initiatives. Created by Scott in 2011, DEO runs Florida’s unemployment compensation system, collaborates job training efforts with regional workforce boards and oversees business incentives programs. As the $140,000-a-year director, Panuccio leads efforts to coordinate local and regional job-creation efforts, and implement an overarching economic development vision for the future.

He shares Scott’s small-government approach to creating jobs, and embraces using taxpayer incentives to draw companies to Florida.

“I do think incentives, especially in a recessionary period like this, are a targeted way of reducing taxation and enhancing the business climate for competitive projects,” he said. “It is a reality right now that we’re competing with other states and other countries for these companies.”

So far, Scott’s approach on jobs has had mixed results. Florida’s economy has improved in the last two years with a rapid decline in unemployment, but job growth is considerably slower than the national pace and wages continue to lag.

Meanwhile, DEO has come under fire — and a federal probe — for restricting access to unemployment compensation benefits, making Florida one of the least generous states in the nation for those who are eligible for aid.

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Pentagon to boost cybersecurity force

WASHINGTON (Reuters) – The Pentagon plans to assign significantly more personnel in coming years to counter increasing threats against U.S. government computer networks and conduct offensive operations against foreign foes, a U.S. defense official said on Sunday.

The plan, which would increase both military and civilian staffing at U.S. Cyber Command, comes as the Pentagon moves toward elevating the new command and putting it on the same level as the major combatant commands.

The official said no formal decisions had been made on the expanding staffing levels or changing Cyber Command into a “unified” command like U.S. Strategic Command, which currently oversees cyber command and the U.S. nuclear weapons arsenal.

Any changes to the combatant command structure would be made based on strategic and operational needs, and take into account the need for efficient use of taxpayer dollars, said the official, who was not authorized to speak publicly.

The Pentagon was working closely with U.S. Cyber Command and the major military commands to develop “the optimum force structure for successfully operating in cyberspace,” the official said.

The Washington Post, quoting senior defense officials, reported late Sunday that the Pentagon had decided to expand Cyber Command’s current staffing level of 900 to 4,900 in coming years.

The official confirmed that Cyber Command planned to expand its force significantly, but said the specific numbers cited by the Post were “pre-decisional.”

The newspaper said senior Pentagon officials had agreed to increase the force late last year amid a string of attacks, including one that wiped out more than 30,000 computers at a Saudi Arabian state oil company. it said

The plan calls for creating three types of force under the Cyber Command, said the defense official.

“National mission forces,” would protect computer systems that undergird electrical grids and other kinds of infrastructure. “Combat mission forces,” would help commanders abroad execute attacks or other offensive operations, while “cyber protection forces,” would focus on protecting the Defense Department’s own systems.

Details were still being worked out, the official said.

(Reporting by Sarah Lynch and Andrea Shalal-Esa; Editing by David Brunnstrom)

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Amy Poehler: I Don't Diet For Awards Season

It is assumed that the fashionably fabulous ladies stepping out during awards season have endured weeks of vigorous diet and exercise before their big day, but Parks and Recreation star Amy Poehler wants you to know that she's not one of them.

Pics: Hit or Miss? The Screen Actors Guild Awards!

When asked about her red carpet regimen for Sunday's SAG Awards, a gorgeous-looking Poehler (in sparkling black Zuhair Murad) shrugged, admitting to ET's Rocsi Diaz the glitz and glamour isn't her thing.

"I don't really love getting dressed up," she said, "so I try to make it as painless as possible."

Pics: The Hottest 2013 SAG Gowns

Apparently, the same applies for Poehler's red carpet-body regimen.

"I probably should [diet and exercise]," concedes Poehler. "But I just don't care."

She adds, "I'm sure I need it, but I'm just too tired to do it."

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Miami Herald Business Plan Challenge opens for entries

Entrepreneurs, please don’t let the name of our contest scare you.

As we launch our 15th annual Miami Herald Business Plan Challenge today, we are putting out our annual call for entries. But we aren’t looking for long, laboriously detailed business plans. Quite the contrary.

More and more, today’s investors in very early stage companies want to see a succinct presentation of your concept and how you plan to turn it into a success. We do, too.

If you have a business idea or an operating startup that is less than two years old, you can enter the Challenge, our annual celebration of South Florida entrepreneurship. Sponsored by the Pino Global Entrepreneurship Center at Florida International University, our contest has three tracks — a Community Track, open to all South Floridians; an FIU Track, open to students and alumni of that university; and a High School Track, co-sponsored by the Network for Teaching Entrepreneurship.

Your entry may be up to three pages and you may attach one additional page for a photo, rendering, diagram or spreadsheet if you wish. Think of it as a meaty executive summary. Experts in all aspects of entrepreneurship — serial entrepreneurs, executives, investors, advisors and finance specialists (see judge bios on MiamiHerald.com/challenge) — will judge your short plan. In doing so, they will be looking at your product or service’s value to the customer, market opportunity, business model, management team and your marketing and financial strategies. See the rules on page 22, which also include tips on preparing your entry.

Your entry is due by 11:59 p.m. March 11. Entries should be sent to challenge@miamiherald.com, fiuchallenge@miamiherald.com or highschoolchallenge@miamiherald.com.

Don’t worry, we’re here to help!

“Frame your business from your customer’s perspective and not yours. Rather than diving into a detailed explanation of your product or service, a more compelling way to tell your business story is to clearly share the problem that you are solving for your customers and how your business is different, better, faster, cooler, cheaper, smarter,” says Melissa Krinzman, managing director of Venture Architects and a veteran Challenge judge.

On Feb 26 at 6:30 p.m. at Miami Dade College, we’ll host a free Business Plan Bootcamp, where you can bring your working plan with you for advice from experts, including Krinzman. Find the sign-up link on MiamiHerald.com/challenge.

And each week in Business Monday and on MiamiHerald.com/challenge, we’ll be bringing you advice and answering your questions. You can post your questions on the Q&A on MiamiHerald.com/challenge or email your questions to me at ndahlberg@miamiherald.com. Follow @ndahlberg on Twitter.

The top six finalists in the Community and FIU Tracks will present their 90-second elevator pitches for our popular video contest. Last year our People’s Pick contest drew more than 18,000 votes.

On May 6, in a special section of Business Monday, we will profile the winners — the judges’ top three selections in each track plus the People’s Pick winners. Along the way, we will unveil semifinalists and finalists to keep the suspense building.

Today, though, we are looking back on the entrepreneurial journeys of our 2012 winners. Funding was a nearly universal challenge, and many faced setbacks in developing their platforms. Throughout the entry period, we’ll also look back on other winners from the past 14 years.

Show us what you’ve got. Let’s make this the best Challenge yet.

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Woman’s Club member earns another well-deserved honor

Warm congratulations to my friend and Miami Woman’s Club sister Dolly MacIntyre, who will be honored as the club’s Historian of the Year for 2013 on Tuesday at the monthly luncheon meeting.

Dolly has been a resident of Miami for 56 years. She began her involvement with local history and historic preservation in 1966. She is a kind and unassuming woman who goes about doing good works without blowing her own horn and she is a highly acclaimed activist for historic preservation and the recipient of numerous awards for dedicated service.

In 2012, she received the Mary Call Darby Collins Award from the state of Florida for her preservation work. Early on, she became a charter member of the Villagers and founding president of the Dade Heritage Trust, and today she remains active in both organizations.

Dolly is a lonttime member and past officer of the MWC, the Woman’s Club of Coconut Grove, the Dade County Federation of Women’s Clubs and the Women’s History Coalition. In addition, she is a board and committee member of many community organizations.

The luncheon will begin at 11:30 a.m. with networking, with lunch and the program to follow at noon in the Ballroom of the Doubletree Grand Hotel, 1717 N. Bayshore Dr.

You can still make reservations and pre-order for vegetarian option by calling Nancy Smith at 305-891-3789. The cost is $25 for members and $35 for non members.

Retired FIU professor honored for book

There’s a lot to be happy about today. Howard B. Rock, Florida International University professor of history emeritus, recently was awarded the Everett Family Foundation Jewish Book of the Year at the 2012 National Jewish Book Awards. The award was announced Jan. 15 by the Jewish Book Council and was for the three-volume series City of Promises: A History of the Jews of New York of which Rock wrote the first volume, Haven of Liberty: New York Jews in the New world, 1654-1865.

Rock shared the top Jewish book award with Annie Polland and Daniel Soyer, who authored the second volume, "Emerging Metropolis: New York Jews in the Age of Immigration, 1840-1920", Jeffrey S. Gurock, who wrote the third volume, "Jews in Gotham: New York Jews in a Changing City, 1920-2010", and noted Jewish historian Deborah Dash Moore, who was the general editor of the project.

Rock, a Miami resident and member of Temple Israel of Greater Miami, also co-authored a history of New York Jewry. He taught American history for 36 years at FIU. His speciality is early American history to 1815, early American social history, the history of New York City, early American labor history and early American political history. In addition, he has published an/or edited five books, including Artisans of the New Republic, The New York Artisan, Keepers of the Revolution, The American Artisans, and A History of New York Images.

Guest composer at FIU

The Florida International School of Music will present a program, “East Meets West,” with guest composer Chinary Ung and the FIU Symphony Orchestra at 7:30 p.m. Friday at the Wertheim Performing Arts Center, 10910 SW 17th St.

Also featured on the program is the Amernet String Quartet and the NOBUS ensemble and the music of Ung, Garcia, Sudol, Jen and Colangelo.

The concert is free and open to the public.

MDC leader to speak in Homestead

You are invited to hear Jeanne Jacobs, president of the Miami Dade College Homestead campus at noon on Feb. 4, at the Homestead Community Center, 1601 N. Krome Ave. Jacobs is the Black History Month speaker at the Bea Peskoe Lunchtime Lecture series, presented free by the Homestead Center for the Arts.

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Exclusive: JJ Abrams Confirms Bradley Cooper in Talks For Lance Armstrong Biopic

Shortly after Bradley Cooper expressed interest (publicly) in portraying disgraced cyclist Lance Armstrong in J.J. Abrams'upcoming biopic about the athlete, the producer/director confirmed to ET exclusively that he is indeed in talks with Cooper for the role.

Pics: Stars Take On Real-Life Roles

When asked about Cooper's interest in tackling the part backstage at the Producers Guild Awards in Los Angeles, Abrams told ET's Christina McLarty "[Cooper] sent me an email and we've been talking."

Said Cooper to BBC News on January 22, "I would be interested in [playing Armstrong]. I think he's fascinating. What a fascinating character."

Paramount Pictures & Bad Robot (J.J. Abram's production company) secured the rights to Cycle of Lies: The Fall of Lance Armstrong, a book proposal penned by Juliet Macur, in mid-January just after Armstrong admitted publicly to doping during all seven Tour de France wins. The author, a sports reporter from The New York Times, has covered the athlete over the span of a decade throughout Armstrong's struggle with cancer, years of doping allegations and ensuing lawsuits.

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Miami Lakes company growing its brand of skin care products

For decades, Vivant Skin Care has formulated creams, serums, cleansers and tonics to treat such dermatological conditions as acne, aging and hyperpigmentation.

Family owned and linked to Dr. James E. Fulton, who co-developed the anti-aging formula Retin-A, the company built its reputation with medically tested therapies aimed at improving skin.

Now, like a complexion that has undergone the metamorphosis of time, Vivant is altering its manufacturing and sales structure and adding products, emerging from the economic downturn with a new plan for the future.

“Now we’re stabilized and looking forward to growth,” said Fulton’s daughter, Chief Executive, Kelly Fulton-Kendrick.

Founded in 1990, Vivant produces a line of 30 skin care products, all formulated in-house, and priced from $15 to $100. The products target both females and males, ages 13 and up.

“Our target market is people who have serious skin care problems and need solutions,” Fulton-Kendrick said. “Vitamin A is the best for affecting change in the skin.”

The clinical skin care products, packaged simply in white bottles and amber glass containers, have remained the company’s mainstay, as the business has transformed.

In mid-2011, Vivant decided to adjust its sales structure, to sell, for the first time, to online retailers like DermStore.com, SkinCareRX.com and amazon.com, as well as to make its products available on its own website, vivantskincare.com. It was a major change in course after more than 20 years of having its products sold only at spas and doctors’ offices.

“So now, we’re a mix of wholesale to skin care professionals and Internet retailers, and we’re selling directly to consumers through our own website,” Fulton-Kendrick said.

Mike Nelson, marketing manager at SkinCareRx.com, said Vivant, which it has sold since November, has “done very well for a new brand to our site,” surpassing some brands that have been on its site for over a year. He declined to provide figures.

SkinCareRX took on only 5 percent of the brands that approached it last year, he said, and had undertaken a rigorous review of Vivant.

“They have a good loyalty base and get great reviews,” Nelson said.

Along with changes in its sales system, in January 2012, Vivant moved from Medley to Miami Lakes, doubling its space to 11,000 square feet to accommodate manufacturing, which it brought in house to reduce costs. It had outsourced manufacturing to a lab in Costa Mesa, Calif., that it had previously owned and later sold.

Inside its warehouse space in a commercial business complex, a small staff handles manufacturing, shipping and packaging. All orders are taken by customer service and fulfilled onsite. A room used as an educational center allows vendors and aestheticians to learn about the products.

Martina Echeveria, international trade specialist at the U.S. Department of Commerce’s Miami U.S. Export Assistance Center, who is helping Vivant get a distributor in the Dominican Republic, said she recently nominated the company for a South Florida Manufacturer of the Year award. The awards are given by the South Florida Manufacturers Association.

“Their products are good and 100 percent U.S. made,” she said.

At Vivant’s offices, a lab area is used by Dr. Fulton for research and development. He also maintains a practice at Flores Dermatology in South Miami.

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