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Press Release

Limelight Networks(R) Reports Fourth Quarter and Full Year 2009 Results

Company Release - 2/23/2010 4:00 PM ET

TEMPE, AZ -- (MARKET WIRE) -- 02/23/10 -- Limelight Networks, Inc. (NASDAQ: LLNW) today reported fourth quarter and full year 2009 financial results. Fourth quarter highlights included:

--  Revenue of $33.6 million

--  Generation of $5.1 million in cash from operations

--  Definitive agreement to acquire EyeWonder, Inc.,
    a leading rich media ad serving vendor

"Business and consumer activity continues to rapidly migrate online, creating a world of hyper-connected users who expect all of their screens and devices to have broadcast quality access to content, information, games, social networks, and purchases, at any time and from any location. Limelight Networks' global computing platform helps publishers, advertisers, and enterprises be successful in this constantly connected, multi-screen environment," said Jeff Lunsford, chairman and chief executive officer.

Financial Highlights

For the fourth quarter of 2009, the company reported revenue of $33.6 million, up 3 percent from third quarter 2009 revenue. The company also reported EBITDA, adjusted for share-based compensation, litigation expenses and acquisition related expenses, of $3.3 million. The company generated $5.1 million in cash from operations during the quarter.

Non-GAAP net loss, before stock based compensation, litigation expenses, and acquisition related expenses, was $3.1 million or 4 cents per basic share. GAAP net loss was $9.7 million, or 11 cents per basic share.

Capital investments were $3.8 million. The company ended the quarter with no bank debt and approximately $154 million in cash and short-term marketable securities.

For the full year 2009, the company reported revenue of $131.7 million, compared to $129.5 million for full year 2008. GAAP net income for 2009 was $34.9 million or 41 cents per basic share. Non-GAAP net loss, before stock based compensation, litigation expenses, provision for litigation, and acquisition related expenses, was $6.4 million or 8 cents per basic share. The company also reported EBITDA, adjusted for share-based compensation, litigation expenses, provision for litigation, and acquisition related expenses, of $19.8 million.

A reconciliation of GAAP to non-GAAP net income is included in the attached tables.

First Quarter 2010 Outlook

Limelight Networks anticipates first quarter revenue to be in the range of $33 million to $34.5 million.

Financial Tables

                         LIMELIGHT NETWORKS, INC.
                  CONDENSED CONSOLIDATED BALANCE SHEETS
                  (In thousands, except per share data)


                                                     December    December
                                                        31,         31,
                                                       2009        2008
                                                    ----------  ----------
                                                    (Unaudited)
                         ASSETS
Current Assets:
  Cash and cash equivalents                         $   89,509  $  138,180
  Marketable securities                                 64,870      36,463
  Accounts receivable, net of reserves of $9,226
   and $7,565 at December 31, 2009 and December 31,
   2008, respectively                                   26,363      33,482
  Income taxes receivable                                  617           7
  Prepaid expenses and other current assets              9,654       7,834
                                                    ----------  ----------
Total current assets                                   191,013     215,966
Property and equipment, net                             35,524      40,185
Marketable securities, less current portion                 12          13
Goodwill                                                   619           -
Other intangible assets, net                               370           -
Other assets                                             8,132         628
                                                    ----------  ----------
Total assets                                        $  235,670  $  256,792
                                                    ==========  ==========

         LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities:
  Accounts payable                                  $    5,144  $    8,920
  Deferred revenue, current portion                     12,199       9,865
  Provision for litigation                                   -      65,645
  Other current liabilities                             14,140      14,928
                                                    ----------  ----------
Total current liabilities                               31,483      99,358
Deferred revenue, less current portion                   1,377       7,303
Deferred income tax, less current portion                   10           -
                                                    ----------  ----------
Total liabilities                                       32,870     106,661
Commitments and contingencies                                -           -
Stockholders' equity:
  Convertible preferred stock, $0.001 par value;
   7,500 shares authorized; 0 shares issued and
   outstanding                                               -           -
  Common stock, $0.001 par value; 150,000 shares
   authorized; 85,011 and 83,405 shares issued and
   outstanding at December 31, 2009 and December 31,
   2008, respectively                                       85          83
  Additional paid-in capital                           308,536     290,593
  Accumulated other comprehensive income                    93         260
  Accumulated deficit                                 (105,914)   (140,805)
                                                    ----------  ----------
Total stockholders' equity                             202,800     150,131
                                                    ----------  ----------
Total liabilities and stockholders' equity          $  235,670  $  256,792
                                                    ==========  ==========




                         LIMELIGHT NETWORKS, INC.
              CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                  (In thousands, except per share data)
                                (Unaudited)


                                            Three Months Ended
                                ------------------------------------------
                                December   September  December   September
                                   31,        30,        31,        30,
                                  2009       2009       2008       2008
                                ---------  ---------  ---------  ---------
Revenue                         $  33,625  $  32,530  $  35,898  $  33,116
Costs and operating expenses
  Cost of revenue * †              22,167     20,907     21,881     21,557
  General and administrative * †   10,066      7,032     15,550     15,455
  Sales and marketing *             8,672      8,060      9,231      8,577
  Research & development *          2,059      2,024      2,072      2,008
  Provision for litigation              -          -      1,295      2,343
                                ---------  ---------  ---------  ---------
Total costs and operating
 expenses                          42,964     38,023     50,029     49,940
Operating (loss) income            (9,339)    (5,493)   (14,131)   (16,824)
Interest expense                       (5)       (11)       (11)       (11)
Interest income                       295        330        669      1,203
Other income (expense)               (146)        15       (375)       410
                                ---------  ---------  ---------  ---------
(Loss) income before taxes         (9,195)    (5,159)   (13,848)   (15,222)
Income tax expense                    531         61         94        130
                                ---------  ---------  ---------  ---------
Net (loss) income               $  (9,726) $  (5,220) $ (13,942) $ (15,352)
                                =========  =========  =========  =========

Net (loss) income per share:
  Basic                         $   (0.11) $   (0.06) $   (0.17) $   (0.18)
  Diluted                       $   (0.11) $   (0.06) $   (0.17) $   (0.18)

Shares used in per share
 calculations:
  Basic                            84,770     84,489     83,192     83,022
  Diluted                          84,770     84,489     83,192     83,022


                                Twelve Months Ended
                                --------------------
                                December   December
                                   31,        31,
                                  2009       2008
                                ---------  ---------
Revenue                         $ 131,663  $ 129,530
Costs and operating expenses
  Cost of revenue * †              85,623     83,861
  General and administrative * †   36,479     53,796
  Sales and marketing *            32,587     34,916
  Research & development *          7,937      7,365
  Provision for litigation        (65,645)    17,515
                                ---------  ---------
Total costs and operating
 expenses                          96,981    197,453
Operating (loss) income            34,682    (67,923)
Interest expense                      (39)       (55)
Interest income                     1,345      5,098
Other income (expense)                (14)      (171)
                                ---------  ---------
(Loss) income before taxes         35,974    (63,051)
Income tax expense                  1,084         16
                                ---------  ---------
Net (loss) income               $  34,890  $ (63,067)
                                =========  =========

Net (loss) income per share:
  Basic                         $    0.41  $   (0.76)
  Diluted                       $    0.40  $   (0.76)

Shares used in per share
 calculations:
  Basic                            84,202     82,932
  Diluted                          87,972     82,932


* Includes share-based compensation (see supplemental table for figures)

† Includes depreciation (see supplemental table for figures)




                         LIMELIGHT NETWORKS, INC.
                        SUPPLEMENTAL FINANCIAL DATA
                              (In thousands)
                                (Unaudited)


                                            Three Months Ended
                                -------------------------------------------
                                December   September  December   September
                                   31,        30,        31,        30,
                                  2009       2009       2008       2008
                                ---------- ---------  ---------  ---------
Supplemental financial data (in
 thousands):
Share-based compensation:
Cost of revenues                $      642 $     638  $     585  $     594
General and administrative           1,801     1,805      3,028      1,669
Sales and marketing                  1,236     1,293      1,262      1,400
Research and development               648       633        633        642
                                ---------- ---------  ---------  ---------
Total share-based compensation  $    4,327 $   4,369  $   5,508  $   4,305
                                ========== =========  =========  =========

Depreciation and amortization:
Network-related depreciation    $    5,352 $   6,018  $   6,862  $   6,607
Other depreciation                     652       627        455        343
                                ---------- ---------  ---------  ---------
Total depreciation and
 amortization                   $    6,004 $   6,645  $   7,317  $   6,950
                                ========== =========  =========  =========

Capital expenditures:
Capital expenditures (cash and
 accrual)                       $    1,905 $  11,070  $   5,151  $   6,803
                                ========== =========  =========  =========

Net increase (decrease) in
 cash, cash equivalents
 and marketable securities      $    1,561 $ (11,497) $  (2,015) $  (7,844)
                                ========== =========  =========  =========

End of period statistics:
Approximate number of active
 customers                           1,370     1,370      1,336      1,304
Number of employees                    328       321        294        285



                                Twelve Months Ended
                                --------------------
                                December   December
                                   31,        31,
                                  2009       2008
                                ---------  ---------
Supplemental financial data (in
 thousands):
Share-based compensation:
Cost of revenues                $   2,414  $   2,243
General and administrative          7,556      8,060
Sales and marketing                 4,970      5,400
Research and development            2,523      2,355
                                ---------  ---------
Total share-based compensation  $  17,463  $  18,058
                                =========  =========

Depreciation and amortization:
Network-related depreciation    $  24,051  $  25,675
Other depreciation                  2,351      1,356
                                ---------  ---------
Total depreciation and
 amortization                   $  26,402  $  27,031
                                =========  =========

Capital expenditures:
Capital expenditures (cash and
 accrual)                       $  21,660  $  20,062
                                =========  =========

Net increase (decrease) in
 cash, cash equivalents
 and marketable securities      $ (20,265) $ (22,528)
                                =========  =========

End of period statistics:
Approximate number of active
 customers                          1,370      1,336
Number of employees                   328        294





                         LIMELIGHT NETWORKS, INC.
              CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                              (In thousands)
                                (Unaudited)


                                            Three Months Ended
                                ------------------------------------------
                                December   September  December   September
                                   31,        30,        31,        30,
                                  2009       2009       2008       2008
                                ---------  ---------  ---------  ---------


Cash flows from operating
 activities:
   Net (loss) income            $  (9,726) $  (5,220) $ (13,942) $ (15,352)
   Adjustments to reconcile net
    (loss) income to net cash
    provided by (used in)
    operating activities:
      Depreciation and
       amortization                 6,004      6,645      7,317      6,950
      Share-based compensation      4,327      4,369      5,508      4,305
      Deferred income tax
       (benefit) expense               10          -         (9)       129
      Provision for litigation          -          -      1,295      2,343
       Loss (income) on foreign
        currency exchange              20          7       (149)       (30)
      Excess tax shortfalls
       related to stock option
       exercises                        -          -        177          -
      Accounts receivable
       charges                      1,556        329      3,961      1,802
      Accretion of marketable
       securities                      89       (298)        (6)        11
      Loss on marketable
       securities                       -          -          -          -
      Changes in operating
       assets and liabilities:
        Accounts receivable          (227)    (1,648)    (6,169)   (11,006)
        Prepaid expenses and
         other current assets        (516)    (1,475)     1,695        417
        Income taxes receivable      (434)      (159)     1,480          8
        Other assets                  917     (4,152)        32        153
        Accounts payable               (6)       244       (531)     2,348
        Accounts payable,
         related parties                -          -          -          -
        Deferred revenue           (1,506)      (291)       416      4,799
        Other current
         liabilities                4,616        358        718      3,554
        Other long term
         liabilities                    -          -       (770)       (64)
                                ---------  ---------  ---------  ---------
   Net cash provided by (used
    in) operating activities        5,124     (1,291)     1,023        367
                                ---------  ---------  ---------  ---------

Cash flows from investing
 activities:
      Purchases of property and
       equipment                   (3,784)   (10,586)    (3,537)    (7,870)
      Purchase of marketable
       securities                 (25,500)   (32,905)         -          -
      Sale of marketable
       securities                  10,900      2,000     17,125     16,000
      Cash acquired in business
       acquisition                      -          -          -          -
                                ---------  ---------  ---------  ---------
   Net cash (used in) provided
    by investing activities       (18,384)   (41,491)    13,588      8,130
                                ---------  ---------  ---------  ---------

Cash flows from financing
 activities:
      Escrow funds returned
       from share repurchase            -          -          -          -
      Excess tax benefits
       related to stock option
       exercises                        -          -       (177)         -
      Proceeds from exercise of
       stock options and
       warrants                        32         72         34         31
                                ---------  ---------  ---------  ---------
   Net cash provided by (used
    in) financing activities           32         72       (143)        31
                                ---------  ---------  ---------  ---------
   Effect of exchange rate
    changes on cash and cash
    equivalents                       290         (5)       566       (223)
                                ---------  ---------  ---------  ---------
Net (decrease) increase in cash
 and cash equivalents             (12,938)   (42,715)    15,034      8,305
Cash and cash equivalents,
 beginning of period              102,447    145,162    123,146    114,841
                                ---------  ---------  ---------  ---------
Cash and cash equivalents, end
 of period                      $  89,509  $ 102,447  $ 138,180  $ 123,146
                                =========  =========  =========  =========



                                Twelve Months Ended
                                --------------------
                                December   December
                                   31,        31,
                                  2009       2008
                                ---------  ---------


Cash flows from operating
 activities:
   Net (loss) income            $  34,890  $ (63,067)
   Adjustments to reconcile net
    (loss) income to net cash
    provided by (used in)
    operating activities:
      Depreciation and
       amortization                26,402     27,031
      Share-based compensation     17,463     18,058
      Deferred income tax
       (benefit) expense               10        (91)
      Provision for litigation    (65,645)    17,515
       Loss (income) on foreign
        currency exchange             201       (167)
      Excess tax shortfalls
       related to stock option
       exercises                        -        177
      Accounts receivable
       charges                      5,795      9,250
      Accretion of marketable
       securities                    (366)      (427)
      Loss on marketable
       securities                       -         71
      Changes in operating
       assets and liabilities:
        Accounts receivable         1,566    (21,326)
        Prepaid expenses and
         other current assets      (1,863)    (2,253)
        Income taxes receivable      (610)     1,953
        Other assets               (7,397)       816
        Accounts payable           (5,204)    (2,890)
        Accounts payable,
         related parties                -       (230)
        Deferred revenue           (3,591)     4,742
        Other current
         liabilities               (2,086)     5,448
        Other long term
         liabilities                    -       (770)
                                ---------  ---------
   Net cash provided by (used
    in) operating activities         (435)    (6,160)
                                ---------  ---------

Cash flows from investing
 activities:
      Purchases of property and
       equipment                  (20,432)   (18,073)
      Purchase of marketable
       securities                 (71,235)   (65,125)
      Sale of marketable
       securities                  43,300    112,150
      Cash acquired in business
       acquisition                     22          -
                                ---------  ---------
   Net cash (used in) provided
    by investing activities       (48,345)    28,952
                                ---------  ---------

Cash flows from financing
 activities:
      Escrow funds returned
       from share repurchase            -      1,070
      Excess tax benefits
       related to stock option
       exercises                        -       (177)
      Proceeds from exercise of
       stock options and
       warrants                       272        225
                                ---------  ---------
   Net cash provided by (used
    in) financing activities          272      1,118
                                ---------  ---------
   Effect of exchange rate
    changes on cash and cash
    equivalents                      (163)       446
                                ---------  ---------
Net (decrease) increase in cash
 and cash equivalents             (48,671)    24,356
Cash and cash equivalents,
 beginning of period              138,180    113,824
                                ---------  ---------
Cash and cash equivalents, end
 of period                      $  89,509  $ 138,180
                                =========  =========

Use of Non-GAAP Financial Measures

To evaluate our business, we consider and use Non-GAAP net income (loss) and EBITDA adjusted for share-based compensation, litigation expenses, provision for litigation, and acquisition related expenses as a supplemental measure of operating performance. These measures include the same adjustments that management takes into account when it reviews and assesses operating performance on a period-to-period basis. We consider Non-GAAP net income (loss) to be an important indicator of overall business performance because it allows us to illustrate the impact of the effects of share-based compensation, litigation expenses, provision for litigation, and acquisition related expenses. We define EBITDA as GAAP net income (loss) before interest income, interest expense, other income and expense, provision for income taxes, depreciation and amortization. We believe that EBITDA provides a useful metric to investors to compare us with other companies within our industry and across industries. We define EBITDA adjusted for share-based compensation, litigation expenses, provision for litigation and acquisition related expenses as EBITDA plus expenses that we do not consider reflective of our ongoing operations. We use EBITDA adjusted for share-based compensation, litigation expenses, provision for litigation and acquisition related expenses as a supplemental measure to review and assess operating performance. We also believe use of EBITDA adjusted for share-based compensation, litigation expenses, provision for litigation and acquisition related expenses facilitates investors' use of operating performance comparisons from period to period. In addition, it should be noted that our performance-based executive officer bonus structure is tied closely to our performance as measured in part by certain non-GAAP financial measures.

The terms Non-GAAP net income (loss), EBITDA and EBITDA adjusted for share-based compensation, litigation expenses, provision for litigation and acquisition related expenses are not defined under U.S. generally accepted accounting principles, or U.S. GAAP, and are not measures of operating income, operating performance or liquidity presented in accordance with U.S. GAAP. Our Non-GAAP net income (loss), EBITDA and EBITDA adjusted for share-based compensation, litigation expenses, provision for litigation and acquisition related expenses have limitations as analytical tools, and when assessing our operating performance, Non-GAAP net income (loss), EBITDA and EBITDA adjusted for share-based compensation, litigation expenses, provision for litigation and acquisition related expenses should not be considered in isolation, or as a substitute for net income (loss) or other consolidated income statement data prepared in accordance with U.S. GAAP. Some of these limitations include, but are not limited to:

--  EBITDA and EBITDA adjusted for share-based compensation, litigation
    expenses, provision for litigation and acquisition related expenses
    do not reflect our cash expenditures or future requirements for
    capital expenditures or contractual commitments;

--  they do not reflect changes in, or cash requirements for, our working
    capital needs;

--  they do not reflect the cash requirements necessary for litigation
    costs;

--  they do not reflect income taxes or the cash requirements for any
    tax payments;

--  although depreciation and amortization are non-cash charges, the
    assets being depreciated and amortized will be replaced sometime in
    the future, and EBITDA and EBITDA adjusted for share-based
    compensation, litigation expenses, provision for litigation and
    acquisition related expenses do not reflect any cash requirements
    for such replacements;

--  while share-based compensation is a component of operating expense,
    the impact on our financial statements compared to other companies can
    vary significantly due to such factors as the assumed life of the
    options and the assumed volatility of our common stock; and

--  other companies may calculate EBITDA and EBITDA adjusted for
    share-based compensation, litigation expenses, provision for
    litigation and acquisition related expenses differently than
    we do, limiting their usefulness as comparative measures.

We compensate for these limitations by relying primarily on our GAAP results and using Non-GAAP Net Income (loss) and EBITDA adjusted for share-based compensation, litigation expenses, provision for litigation and acquisition related expenses only as supplemental support for management's analysis of business performance. Non-GAAP Net Income (loss), EBITDA and EBITDA adjusted for share-based compensation, litigation expenses, provision for litigation and acquisition related expenses are calculated as follows for the periods presented in thousands:

Reconciliation of Non-GAAP Financial Measures

In accordance with the requirements of Regulation G issued by the Securities and Exchange Commission, the Company is presenting the most directly comparable GAAP financial measures and reconciling the non-GAAP financial metrics to the comparable GAAP measures.

                         LIMELIGHT NETWORKS, INC.
  Reconciliation of GAAP Net Income (Loss) to Non-GAAP Net Income (Loss)
                              (In thousands)
                                (Unaudited)


                                            Three Months Ended
                                ------------------------------------------
                                December   September  December   September
                                   31,        30,        31,        30,
                                  2009       2009       2008       2008
                                ---------  ---------  ---------  ---------

GAAP net (loss) income          $  (9,726) $  (5,220) $ (13,942) $ (15,352)

Provision for litigation                -          -      1,295      2,343
Share-based compensation            4,327      4,369      5,508      4,305
Litigation defense expenses           827        273      4,576      8,189
Acquisition related expenses        1,481          -          -          -
                                ---------  ---------  ---------  ---------

Non-GAAP net loss               $  (3,091) $    (578) $  (2,563) $    (515)
                                =========  =========  =========  =========



                                Twelve Months Ended
                                --------------------
                                December   December
                                   31,        31,
                                  2009       2008
                                ---------  ---------

GAAP net (loss) income          $  34,890  $ (63,067)

Provision for litigation          (65,645)    17,515
Share-based compensation           17,463     18,058
Litigation defense expenses         5,412     20,799
Acquisition related expenses        1,481          -
                                ---------  ---------

Non-GAAP net loss               $  (6,399) $  (6,695)
                                =========  =========




                         LIMELIGHT NETWORKS, INC.
       Reconciliation of GAAP Net Income (Loss) to EBITDA to EBITDA
Adjusted for Share-Based Compensation, Litigation Expenses, Provision for
                    Litigation and Acquisition Expenses
                              (In thousands)
                                (Unaudited)


                                            Three Months Ended
                                ------------------------------------------
                                December   September  December   September
                                   31,        30,        31,        30,
                                  2009       2009       2008       2008
                                ---------  ---------  ---------  ---------

GAAP net (loss) income          $  (9,726) $  (5,220) $ (13,942) $ (15,352)

   Add: depreciation and
    amortization                    6,004      6,645      7,317      6,950
   Add: interest expense                5         11         11         11
   Less: interest and other
    income                           (149)      (346)      (294)    (1,613)
   Plus income tax (benefit)
    expense                           531         61         94        130
                                ---------  ---------  ---------  ---------
EBITDA                             (3,335)     1,151     (6,814)    (9,874)

   Add: provision for
    litigation                          -          -      1,295      2,343
   Add: share-based
    compensation                    4,327      4,369      5,508      4,305
   Add: litigation defense
    expenses                          827        273      4,576      8,189
   Add: acquisition related
    expenses                        1,481          -          -          -
                                ---------  ---------  ---------  ---------

EBITDA adjusted for share-based
 compensation, litigation
 expenses, provision for
 litigation and acquisition
 expenses                       $   3,300  $   5,793  $   4,565  $   4,963
                                =========  =========  =========  =========



                                Twelve Months Ended
                                --------------------
                                December   December
                                   31,        31,
                                  2009       2008
                                ---------  ---------

GAAP net (loss) income          $  34,890  $ (63,067)

   Add: depreciation and
    amortization                   26,402     27,031
   Add: interest expense               39         55
   Less: interest and other
    income                         (1,331)    (4,927)
   Plus income tax (benefit)
    expense                         1,084         16
                                ---------  ---------
EBITDA                             61,084    (40,892)

   Add: provision for
    litigation                    (65,645)    17,515
   Add: share-based
    compensation                   17,463     18,058
   Add: litigation defense
    expenses                        5,412     20,799
   Add: acquisition related
    expenses                        1,481          -
                                ---------  ---------

EBITDA adjusted for share-based
 compensation, litigation
 expenses, provision for
 litigation and acquisition
 expenses                       $  19,795  $  15,480
                                =========  =========

Conference Call

At approximately 4:30 p.m. EST (1:30 p.m. PST), management will host a quarterly conference call for investors. Access to the call will be provided by both telephone dial-in and via live Internet broadcast.

This call can be accessed toll-free at 1-866-831-6291 within the United States or 1-617-213-8860 outside of the U.S. using Participant Passcode 82723009. The conference call will also be audiocast live from http://www.llnw.com and a replay will be available for one week following the conclusion of the event.

Safe-Harbor Statement

This press release contains forward-looking statements concerning, among other things, the outlook for the Company's revenues, net loss and stock-based compensation expenses, customer growth, market growth, pricing pressures, expansion into additional market segments, product and services improvements and litigation and acquisition related expenses. Forward-looking statements are not guarantees and are subject to a number of risks and uncertainties that could cause actual results to differ materially including, but not limited to, risks that the Company's acquisition of EyeWonder is delayed or ultimately not consummated, risks and uncertainties discussed in the Company's Annual Report on Form 10K and other filings with the Securities and Exchange Commission and the final review of the results and amendments and preparation of quarterly and annual financial statements, including consultation with our outside auditors. Accordingly, readers are cautioned not to place undue reliance on any forward-looking statements. The Company assumes no duty or obligation to update or revise any forward-looking statements for any reason.

Additional Information Regarding the Acquisition of EyeWonder and Where to Find It

Limelight Networks filed a Registration Statement on Form S-4 and a Proxy Statement/Prospectus with the SEC in connection with the transaction and plans to mail to its stockholders a Proxy Statement/Prospectus in connection with the transaction. The Registration Statement and the Proxy Statement/Prospectus contain important information about Limelight Networks, EyeWonder, the transaction and related matters. Investors and security holders are urged to read the Registration Statement and the Proxy Statement/Prospectus carefully. Investors and security holders may obtain free copies of the Registration Statement and the Proxy Statement/Prospectus and other documents filed with the SEC by Limelight through the web site maintained by the SEC at www.sec.gov and by contacting Limelight Networks Investor Relations at 917-297-4241. In addition, investors and security holders may obtain free copies of the documents filed with the SEC on Limelight Networks' website at www.limelightnetworks.com.

Participants in the Acquisition of EyeWonder

Limelight Networks, EyeWonder and their respective directors, executive officers and certain other members of management and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information regarding these persons who may, under the rules of the SEC, be considered participants in the solicitation of Limelight Networks stockholders in connection with the proposed transaction is set forth in the Proxy Statement/Prospectus described above. Additional information regarding Limelight Networks' executive officers and directors is included in Limelight Networks' definitive proxy statement, which was filed with the SEC on April 27, 2009. You can obtain free copies of these documents from Limelight Networks using the contact information above.

About Limelight Networks, Inc.

Limelight Networks, Inc. (NASDAQ: LLNW) is trusted by the world's most innovative enterprise, entertainment, technology, and software brands to improve the performance and profitability of web sites and end-user experiences. Our scalable, on-demand managed infrastructure solutions provide global reach and consistently high availability, by routing traffic over a private fiber-optic backbone rather than through the often-congested, unpredictable public Internet. For more information, visit our web site (http://www.limelightnetworks.com), read our blog (http://blog.llnw.com), or follow @llnw (http://www.twitter.com/llnw) on Twitter.

Copyright © 2010 Limelight Networks, Inc. All rights reserved. All product or service names are the property of their respective owners

CONTACT:
Paul Alfieri
Limelight Networks, Inc.
+1-646-875-8835
Email Contact

Media Contacts

Steve Milmore
smilmore@llnw.com
or
Deborah Hohler
dhohler@llnw.com

Investor Contact

ir@llnw.com

Limelight Networks, Inc.

222 S. Mill Ave.
Tempe AZ 85281
602-850-5000
limelight.com

Transfer Agent

American Stock Transfer and Trust Company
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Plaza Level
New York, NY 10038
Phone: (800) 937-5449
Fax: (718) 236-4588
E-mail: Info@amstock.com
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