MARKETWIRED – Mar 5 – Q4 revenue was $14.3M, 17% decrease YOY which was primarily driven by a 22% decrease in average paying subscribers. Spark Networks cut marketing expenses 60%. Christian Networks accounted for the majority of the decrease, reflecting the Company's strategy to reduce and reallocate direct marketing investments in the segment. Q4 net income was $3.9M, up from a net loss of $3.5M. CEO Michael Egan stated, "We are now in the "walk" phase of our "crawl, walk, run" plan. Our "run" plan is to reinvigorate profitable subscriber growth by year end."
The full article was originally published at Spark.net, but is no longer available.
See all posts on Spark Networks