August 17, 2011, 5:29 PM

Web sales increase 9% for eDiets.com in Q2

Year-to-date sales are up by 23%.

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EDiets.com Inc. put up stronger sales in the second quarter and thinned down its net loss.

 For the second quarter ended June 30, eDiets.com, No. 371 in the Internet Retailer Top 500 Guide reported:

  • Sales grew 9.3% to $5.9 million from $5.4 million in the second quarter of 2010.
  • Net loss was $900,000 compared with a net loss of $34.6 million in the second quarter of 2010. The net loss in Q2 2010 reflected impairment and non-cash charges associated with converting senior secure notes into common stock.

 "As anticipated, our second quarter revenue was up modestly year-over-year and our loss from operations showed significant improvement as we emphasized both cost controls and productivity initiatives in our meal delivery business,” says CEO Kevin McGrath.

For the first two quarters:

  • Sales grew 22.9% to $12.9 million from $10.5 million in the first two quarters of 2010.
  • Net loss was $1.2 million compared with a net loss of $38.4 million in the second quarter of 2010. The net loss in the first half of 2010 included impairment and non-cash charges associated with converting senior secure notes into common stock.

“We will continue to maintain a disciplined cost structure relative to our revenue run rates,” says McGrath.

 

 

 

 

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