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eDiets.com puts up fatter year-end numbers
In preliminary numbers, sales in Q4 and 2010 increased 214% and 38%, respectively.
Online diet plan and food retailer eDiets.com Inc. is reporting sharply higher fourth quarter numbers.
EDiets.com, No. 395 in the Internet Retailer Top 500 Guide, won’t break out final year-end numbers until next month.
But in preliminary numbers for the fourth quarter ended Dec. 31,eDiets.com is reporting:
- Web sales for the final quarter will range from $6.7 to $6.9 million. Based on that range and from year-to-date numbers contained in the company’s third quarter earnings release, Internet Retailer projects that 2010 sales will reach around $25 million, an increase of 38.1% from $18.1 million in 2009. With $6.9 million in Q4 sales, Internet Retailer also projects sales will rise year over year 76.9% from $3.9 million in the final quarter of 2009.
- Meal delivery will reach about $5.5 million in the fourth quarter, an increase of 217.6% from $1.7 million in Q4 2009 says eDiets.com. Meal delivery is projected to range from $5.5 million to $7 million in the first quarter.
“We are pleased with our preliminary results for the fourth quarter, particularly in light of the fact that this represents our seasonally softest period as a result of lower demand during the holiday season," says CEO Kevin McGrath. "We are especially pleased with the meal delivery business, which in the fourth quarter recorded its highest quarterly sales since the division was launched.”
While revenue is up, eDiets.com reduced its employee count by an undisclosed number of jobs that will yield $1.5 million in annual savings, the company says. “Demand for our meal delivery shipments has been in-line with our expectations quarter-to-date, and we anticipate accelerated revenue growth as we continue to add subscribers and the revenue builds throughout the quarter,” says McGrath.