MARKET WIRE – Aug 12 – Revenue for Q2 2010 was $10.3M, a decrease of 8% compared to $11.2M for Q2 2009, and a decrease of 2% compared to $10.5M in the prior quarter. Net income for Q2 2010 was $923,000, or $0.04 per share, compared to $1.9M, or $0.09 per share, for Q2 2009. Average paying subscribers for the Company, as a whole, decreased 2% YOY to 160,239. Revenue for Jewish Networks was $6.7M a decrease of 6%. Revenue for Other Affinity Networks was $2.8M, a decrease of 16%. Revenue for General Market Networks was $298,000, a decrease of 57%. Average paying subscribers for Jewish Networks were 89,055, an increase of 8% compared to Q2 2009.
The full article was originally published at Trading Markets, but is no longer available.
Mark Brooks: JDate up, everything else down. You can see a detailed overview of Spark's trending numbers on the right bar under Financial Pages. We also list Match, Meetic and Snap Interactive and will be listing EasyDate soon.
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Another Disaster of a Quarter for Spark. Osmium Partners has it right in their recent press release. Management has no vision for the company and is milking it for cash in the form of ridiculous executive compensation. They have led the Company to 5 straight years of decreasing revenues while they have collected millions in salary and bonuses. And then to have the audacity to consider (and if not for the minority shareholders) would have agreed to a low ball offer from Great Hill Partners based on their cozy and incestuous relationship. While other dating sites have thrived over the past 5 years, Spark management has systematically destroyed their company. And what about the “Special Committee”? Why is this so secret? Why not come clean with the cost associated with this process? How much is the “Special Committee” getting paid? My guess is that the “Special Committee” are just puppets of Great Hill and Management.
Long Time Shareholder.
Another Disaster of a Quarter for Spark. Osmium Partners has it right in their recent press release. Management has no vision for the company and is milking it for cash in the form of ridiculous executive compensation. They have led the Company to 5 straight years of decreasing revenues while they have collected millions in salary and bonuses. And then to have the audacity to consider (and if not for the minority shareholders) would have agreed to a low ball offer from Great Hill Partners based on their cozy and incestuous relationship. While other dating sites have thrived over the past 5 years, Spark management has systematically destroyed their company. And what about the “Special Committee”? Why is this so secret? Why not come clean with the cost associated with this process? How much is the “Special Committee” getting paid? My guess is that the “Special Committee” are just puppets of Great Hill and Management.
Long Time Shareholder.