Wedding site The Knot (NSDQ: KNOT) saw profits fall about 64 percent to $771,000 million last year, primarily due to the decline in interest income. The company has about $128.9 million in cash and investments. With interest rates remaining pretty low, The Knot’s interest income this year on its cash and other holdings was $93,000, compared to Q308’s $826,000. But the marriage business isn’t completely on the rocks: net revenues were up 4 percent while merchandising dollars grew 30 percent. Nationally, online advertising declined 3 percent. Anticipating those declines, over the past year The Knot has expanded its local focus, boosting that segment’s revenues by 4 percent over last year. In keeping with plans to broaden its sites’ coverage, the company launched 60 “niche” sites, passing its goal to have 220 new online destinations up by the end of the year.
Earnings release | Webcast (4:30 PM ET) | Transcript (via Seeking Alpha)

• Interview: The Knot’s Liu: Bridal Site Tries To Capitalize On Condé Nast’s Woes