euro adhoc: MatchNet plc
Quarterly or Semiannual Financial
Statements
MatchNet Reports Third Quarter 2004 Results
Revenue Up
74% From Prior Year And 8% Sequentially From Q2
Management Enhanced
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
BEVERLY HILLS, Calif., November 4, 2004 MatchNet plc, a leading provider of online personals in the United States and internationally, today announced its financial results for the third quarter ended September 30, 2004 as well as an enhancement of the Management.
Third Quarter 2004 Financial Results Revenue in the third quarter of 2004 was USD 17.1 million, an increase of 8% compared to USD 15.8 million for the second quarter of 2004. Compared to the third quarter of last year, revenue increased 74%, from USD 9.8 million. The increase in revenue was primarily due to an increase in subscriptions.
The net loss in the third quarter was USD 3.0 million, compared to a net loss of USD 4.1 million in the second quarter of 2004 and a net loss of USD 2.7 million in the third quarter of last year. On an adjusted EBITDA basis, the loss in the third quarter was approximately USD 200,000.*1
Third Quarter 2004 Operating Metrics Active membership at September 30, 2004 increased 3% to 10.1 million from 9.8 million at June 30, 2004. Compared to the same period last year active members increased 19% from 8.5 million.*2 The company reported that its subscriber count held steady over the prior quarter at 235,000 despite a reduction to its marketing spend in the latter stages of the third quarter. The company said that its average revenue per subscriber was USD 75 in the third quarter and its average subscriber acquisition cost was USD 41.
2004 Guidance The company updated its full-year 2004 guidance, saying it expected to generate revenue of about USD 65 million and expected to achieve positive adjusted EBITDA.*1
Key Appointments The company also announced several key hires, including Mark Thompson as chief financial officer, Phil Nelson as chief technology officer and Sherry Willhoite as director of product development. Mr. Thompson was most recently CFO of Pay By Touch and previously held senior financial positions at technology and biotech bellwethers PeopleSoft and Chiron Corporation. Mr. Nelson was previously an Entrepreneur in Residence at Accel Partners and prior to Accel, he was founder and CEO of Anteros and a co-founder of Impresse and Verity, where he served in both technical and customer facing roles. Ms. Willhoite was previously a product development executive at Friendster and earlier served in a variety of frontline product management roles at Yahoo!, including the Yahoo! Personals business.
The company will host an investor conference call to discuss its results for the third quarter ended September 30, 2004. The call will take place at 6:30 p.m. Frankfurt time, call title is "Q3 2004 Financial Results". The international Dial in number is: +1-706-634-2477
*1 Adjusted EBITDA represents net income before interest, taxes, depreciation and amortization, non-cash stock based compensation, and items the company considers to be non-recurring or otherwise not indicative of its ongoing core operation. *2 In order to provide a more accurate depiction of its membership, during the first quarter of 2004, the company changed the way it accounts for active members to include those members who were active in the 12 months preceding the period end date. Previously, the company reported members during the subject period regardless of their last date of activity.
For More Information North America: Ken Ross + 1 (323) 658 3010 kross@matchnet.com Europe: Elmar Bob +49 (69) 7409 3788 elmar@matchnet.com
end of announcement euro adhoc 04.11.2004 17:25:00
Further inquiry note:
Elmar Bob
+49 (69) 7409 3788
elmar@matchnet.com
Guido Pickert
Branche: Online
ISIN: US5766601042
WKN: 930129
Index: SDAX, Prime Standard, Classic All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade