| AsianDivaGirlsWebDude |
08-15-2011 11:36 PM |
FFN (Adult Friend Finder / Penthouse) Q2 Results Are In...
Why is this man smiling?
[IMG]http://www.********.com/images/news/50138-1.jpg[/IMG]
Despite Marc Bell's best attempt to smear lipstick on his cash bleeding FFN AFF/Penthouse pig, the facts do not appear pretty (unless perhaps one is personally profiting by raiding the corporate coffers as the boat goes down and before abandoning ship):
Quote:
SUNNYVALE, Calif. (AP) -- FriendFinder Networks Inc., which operates adult websites and publishes Penthouse magazine, said Monday that its net loss widened in its first quarter as a publicly traded company.
FriendFinder reported a second-quarter loss of $11.9 million, or 55 cents per share, compared with a loss of $4.9 million, or 36 cents per share, a year ago. In the second quarter of 2010, the company's per-share results were calculated using a much smaller number of shares.
The company's results included $7.3 million in costs related to paying back debt early using proceeds from its initial public offering of stock in May. It also took $5 million in charges for a $15 million settlement of a breach of contract lawsuit filed by Broadstream Capital Partners Inc. FriendFinder is making the payment in three installments through Jan. 2.
Revenue dipped 1 percent to $83.4 million as FriendFinder saw a decline in Internet revenue, which includes revenue from offerings such as websites and social networking.
FriendFinder's average revenue per subscriber rose 5 percent to $20.48 in the April-June quarter compared with a year ago.
The company said its subscribers totaled 911,560, on average, during the quarter, down 11 percent from a year ago.
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