Have fun.....
Absolutely...@30% a month who wouldn't?
uDate.com Announces Q4 Revenues Of $8.6M With Earnings Before Interest Tax Depreciation And Amortization (EBITDA*) Of $3.9M
NEW YORK, NY, Jan 22, 2002 (INTERNET WIRE via COMTEX) -- uDate.com (OTCBB: UDAT chart, msgs), the global online personals group providing dating and matchmaking services to more than 200,000 subscribers through two leading brands www.udate.com and www.kiss.com, today announced preliminary results for the month of December 2001 and Quarter 4 2001.
FINANCIAL HIGHLIGHTS
During the fourth quarter 2001 the Company achieved earnings before interest tax depreciation and amortization; excluding one-off costs associated with the recent reorganization of Kiss.com *; (EBITDA*) of $3.9M on revenues of $8.6M. The results, which are subject to review as part of the quarter end filings, compare favorably with the Company's latest guidance issued on September 18th, 2001 and with the preceding quarter:
Q4-2001 Q4-2001 Q3-2001
Guidance Actuals Actuals
Revenues: $8.82M $8.6M $6.62M
EBITDA*: $3.85M $3.89M $2.01M
Net Profit/Loss: - ($0.92M) ($0.02M)
In the month of December 2001 the Company achieved earnings before interest tax depreciation and amortization, excluding one-off costs associated with the Kiss.com reorganization *, (EBITDA*) of $1.585M, up 31% on the month of November 2001. Total revenues for the month of December 2001 were $3.12M, up $0.302M or 11%, on November 2001. The preliminary results for Q4-2001, which are subject to review as part of our Quarter and Year end process, exceed the Company's latest EBITDA* guidance of $3.85M issued on September 18th, 2001 by $0.39M or 11%.
Operating Profit for the quarter including Kiss reorganization costs was $1.45M. Net Loss allowing for goodwill write off and loan note interest was $0.92M.
Cash and cash equivalents at the end of December 2001 increased by more than 115% or $2.35M compared to the position at September 30, 2001. The Company ended the month with cash and cash equivalents of $4.33M. This figure is stated after meeting payments due in the quarter in respect of the loan note associated with the Kiss.com acquisition. The balance of the loan note at the end of December 2001 was $2.61M.
"2001 has been a phenomenal year for uDate.com, inc. These are indeed very impressive results. In just 12 months we have increased our monthly revenues from $0.26M in December 2000 to $3.12M in December 2001, a 1,200% increase. Our traction and continued growth pushes us ever closer to the number one slot." stated Mel Morris, founder and Chief Executive, uDate.com, inc.
"As I had declared in our Q2 and Q3 teleconference, Q4 demonstrated very clearly that our superior ability to monetize would prove to be a significant competitive advantage in winning revenue based partnership and advertising deals. In the last month we have announced significant deals with both MSN and Infospace/Excite. As the strength of our monetization becomes more widely understood I expect additional significant players will choose to partner with us." added Morris.
CONSISTENT GROWTH IN SUBSCRIBER BASE
During December 2001, in spite of the pressures from retail spending patterns prior to the Christmas period the subscriber base grew by 8,188, an increase of 4.3%. This takes the total number of subscribers for the combined operation to 200,175, an increase of 27% over the count at the end of September 2001.
OUTLOOK FOR JANUARY
"I expect January to show strong growth over December as our new marketing relationships begin to take effect. We also enter 2002 with the benefits of a substantial reduction in overheads following the Kiss.com reorganization." concluded Morris.
About uDate
uDate operates high-quality web sites that serve the online singles community. The Company stresses service, efficiency and personal security through its two leading brands uDate.com (www.udate.com) and Kiss.com (www.kiss.com).
uDate.com was launched commercially in February 1999 to provide a comprehensive Internet dating service featuring extensive customer profiles, sophisticated matchmaking technology and fully integrated instant messaging capabilities. uDate operates at the top end of its market sector with more than 200,000 subscribers and provides features that surpass the most professional off-line dating services.
Both uDate.com and Kiss.com web sites offer free registered membership. A registered member of either web site may post their profile and photographs and utilize the search or matchmaking features offered by the site at any time. To enable communication with other members however, registered members must purchase a subscription. Subscription plans are available allowing communication for periods of five days to 12 months.
Forward-Looking Statements
Certain statements in this press release that do not contain historical facts or information are ``forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include those (a) that contain the words ``may,'' ``will,'' ``should,'' ``estimates,'' ``predicts,'' ``potential,'' ``continue,'' ``strategy,'' ``believes,'' ``anticipates,'' ``plans,'' ``expects,'' ``intends,'' and similar expressions, (b) that describe any of the Company's or management's plans, objectives or goals for future operations and products, or (c) that concern the characteristics and growth of the Company's markets or customers or products or the expected liquidity and capital resources of the Company. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, levels of activity, performance or achievements of the Company to be materially different from any future levels of results, activity, performance or achievements expressed or implied by such forward-looking statements. Such risks include, among others, those set forth in the Company's Annual Report on Form 10-KSB under the heading, ``Risk Factors'' contained within Item 6. Management's Discussion and Analysis or Plan of Operations. Such Risk Factors include the following: risks related to the Company's financial condition and business model, risks related to the Company's markets and strategy, risks related to the internet and the Company's technology infrastructure, risks related to government regulation, and risks related to volatility in the price for the Company's securities and the effect of future sales of the Company's common stock. For a detailed discussion of these risk factors and other cautionary statements, please refer to the Company's filings with the Securities and Exchange Commission, including the Company's Annual Report on Form 10-KSB for the most recently ended year.
CONTACT: uDate.com, Inc.
Public & Investor Relations
800-506-2307
Copyright 2002 Internet Wire, All rights reserved.
siliconinvestor.com
Vendit, they have a grand total of about 2.5 Million invested in hardware and website to generate these revenues, that's 100% return on deployed capital each quarter....have fun? Fun has nuttin to do with it, it's have a pig, own a pig..here piggy piggy. And it's a cheap pig until folks shake of the bubble burst of 2000 and look at companies like UDAT that make money seemingly with out large investment, but just a simple good gray matter idea.
I heard Bush talking about that today, that jobs are created by an idea about a new product or service, UDAT is a service delivered in a new way via the interNUT, without capital investment these guys are absolutely raking it in capital.
Not with a new product or service idea, just a "new" distribution means of an old service. It's loney singles matched with loney singles on the interNUT...and it's a buck banger idea. |
