euro adhoc: MatchNet plc
Annual Reports
MatchNet plc 2002 Revenues Grow 60 Percent Over 2001 Company Achieves First Full Year Net Profits; Earnings Per Share of $0.02 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
LOS ANGELES, CA, March 31st, 2003 - MatchNet plc (MHJG: Frankfurt Stock Exchange - Prime Standard), one of the largest providers of online personals worldwide, today reported full year results for the period ended December 31, 2002.
Revenues increased 60% to USD16,90 Mio. in 2002, compared to USD 10,54 in the year ago period. Operating expenses declined 12% to 59% of revenues compared to 67% of revenues in the prior year. Net income was USD 0,40 Mio. compared to a loss of USD 6,64 Mio. in the same period last year. Earnings per share increased to USD 0,02 in 2002, from a loss of USD 0,39 in the prior year.
The increase in revenues and profits is primarily attributed technology upgrades and site enhancements at two of MatchNets personals sites, JDate.com and AmericanSingles.com. The upgrades improved efficiencies and increased member satisfaction, resulting in growth of overall membership and a higher conversion rate of free memberships into paying subscribers. In February, MatchNets combined online dating properties recorded more than 3.7 million unique visitors, according to Nielsen//NetRatings, securing MatchNet a top spot in the online dating industry. Management expects this trend to continue in 2003, since roll-out of the new technology to further MatchNet Sites is planned.
Investor Contacts: MatchNet plc Elmar Bob + 49 69 74 09 37 88 Elmar@MatchNet.com
end of announcement euro adhoc 31.03.2003
Further inquiry note:
Elmar Bob +49 69 74 09 37 88 Elmar@MatchNet.com
Branche: Online
ISIN: US5766601042
WKN: 930129
Index: Prime Standard
Börsen: Frankfurter Wertpapierbörse / Neuer Markt
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