[0] eDiets.com, Inc. Announces 473% Revenue Increase for First-Quarter.Business Editors DEERFIELD BEACH Deerfield Beach, town (1990 pop. 46,325), Broward co., SE Fla., on the Atlantic coast; inc. 1925. The development of high-technology industry and commerce expanded the town and more than doubled its population between 1970 and 1990. , Fla.--(BUSINESS WIRE)--June 1, 2000 eDiets.com  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . , one of the leading online diet, fitness and counseling centers, today announced that revenues for the first quarter of 2000 increased 473% to $1,134,000 compared to $198,000 for the same period last year. The increase in revenues for the quarter ended March 31, 2000 was a result of a 430% increase in paid subscriptions which was due to the Company's expansion of its online advertising efforts combined with a lower priced membership compared to that of the prior year. As of March 31, 2000, the Company also had $825,000 of deferred revenue representing subscriptions paid in advance. This revenue will be recognized over the next several months, with the majority falling in the second quarter. eDiets.com posted a net loss for the first quarter of $1,244,000, or $0.10 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared with a net loss of $223,000, or $0.03 per diluted share, for the corresponding quarter in 1999. The loss was primarily a result of the Company's continued expansion of its online advertising campaign in addition to start-up Start-up The earliest stage of a new business venture. expenses associated with the Company's new offline marketing campaign. Because revenues from customer subscriptions are recognized over the term of the subscription, a minimum of three months, the Company typically incurs marketing expenses in a quarterly period prior to the recognition of the corresponding revenue. "In the first quarter we experienced a 154% increase in Web site traffic over the corresponding period last year. In addition to growing our membership subscription base, our newsletter community now exceeds 1.4 million consumers, an increase of 1,125,000 over the prior year," said Dave Humble Humble may refer to:
tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. diet program coupled with the convenience and privacy of the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the is gaining acceptance with today's busy consumers at the expense of conventional offline diet centers that require drive-time and fixed-time appointments. The majority of members see an ongoing need for eDiets.com support, and continue their subscriptions once their initial minimum program term has expired ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. ." During the most recent quarter, eDiets.com re-launched its Web site with a new look and enhanced interactive weight-loss tools. eDiets.com also expanded its customer service hours so that representatives are more accessible and unveiled a regional in-supermarket advertising campaign as well as radio commercials and print advertisements. eDiets.com continues to expand its audience, particularly among women. Nielsen/Netrating cites eDiets.com as the Internet leader in drawing the largest percentage of female viewers to the site (89% for the week ended May 21, 2000). Additionally, eDiets.com was ranked among the top 500 Digital Media sites for the months of March and April 2000, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Media Metrix Inc. In April, eDiets.com was named the 12th most popular health and family Web site by PC Data Online of Reston, Virginia Reston is an internationally known planned community whose goal was to revolutionize post-World War II concepts of land use and residential/corporate development in American suburbia. . Going forward, eDiets.com expects to introduce its corporate wellness program as well as seek to develop nutritional health solutions for healthcare delivery systems both on and off the Internet. About eDiets.com eDiets.com, one of the original marketers of customized fee-based diet programs exclusively online, provides its members with the highest level of personalized service, complete anonymity, and an unparalleled degree of convenience. Subscribers enjoy the benefits of a virtual dietitian dietitian /di·e·ti·tian/ (di?e-tish´in) one skilled in the use of diet in health and disease. di·e·ti·tian or di·e·ti·cian n. A person specializing in dietetics. that creates customized plans, daily checklists, grocery lists, and both on and offline support. eDiets.com also issues one of the Internet's most popular health and diet newsletters, news@ediets.com, free of charge to over 1.4 million subscribers. eDiets.com was named a Forbes "Best of the Web" fitness and nutrition Web Site by Forbes magazine for the year 2000. Headquartered in Deerfield Beach, Florida Deerfield Beach is a city in Broward County, Florida, USA. The city is named for the numerous deer that once roamed the area. As of 2004, the population estimated by the U.S. Census Bureau is 76,478. , eDiets.com's management team consists of licensed dietitians licensed dietitian, n a nutrition specialist who holds a license to practice dietetics and nutrition services. A licensed dietitian facilitates nutrition therapy. and psychologists This list includes notable psychologists and contributors to psychology, some of whom may not have thought of themselves primarily as psychologists but are included here because of their important contributions to the discipline. , a technical staff, and an experienced corporate organization. Note to editors: For company or service information, contact eDiets.com, Inc. 3467 Hillsboro Boulevard, Deerfield Beach, Florida 33442. (954) 360-9022. Readers can also access our Web site at http://www.ediets.com. Certain statements made herein that use the words "estimate," "project," "intend," "expect," "believe," and similar expressions are intended to identify forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the Company to be materially different from those which may be expressed or implied by such statements. These risks and uncertainties include, among others, changes in general economic and business conditions, changes in product acceptance by consumers, effectiveness of sales and marketing efforts, loss of market share and pressure on prices resulting from competition, and inability to obtain sufficient financing. For additional information regarding these and other risks and uncertainties associated with eDiets.com business, reference is made to the prospectus in the Registration Statement on Form SB-2 and other reports filed from time to time with the Securities and Exchange Commission.
eDiets.com, Inc.
Summary of Consolidated Financial Information
(Unaudited)
(In thousands, except loss per share)
Three Months Ended March 31
2000 1999
INCOME STATEMENT DATA:
Revenues $1,134 $ 198
Cost and expenses:
Cost of revenue 283 30
Product development 43 23
Sales and marketing 1,450 188
General and administrative 618 153
Depreciation and amortization 58 27
Loss from operations (1,318) (223)
Other income, net 74 -
Net loss $(1,244) $ (223)
Loss per common share - basic
and diluted $ (0.10) $(0.03)
Weighted average common shares
Outstanding 12,645 7,814
March 31, December 31,
2000 1999
BALANCE SHEET DATA:
Cash and cash equivalents $ 3,950 $ 6,283
Prepaid advertising 1,841 281
Working capital 3,881 5,323
Total assets 6,922 7,337
Long-term debt - -
Stockholders' equity 4,510 5,812
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