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eDiets.com Expects Full Year of Profitability
Posted: 12/5/2001
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Company Gains Ground On Weight Watchers International
DEERFIELD BEACH, Fla., November 28, 2001 – eDiets.com, Inc. (OTCBB:EDET), the online diet services category leader, today announced that it expects to report its first full year of profitability for the year ending December 31, 2001 on approximately $25 million of revenue.
The Company recently reported that nearly 300,000 consumers paid eDiets membership fees throughout the third quarter of 2001, as compared to 150,000 for the same period a year earlier, and that it recorded its fourth straight profitable quarter with record revenues and profits for the three-month and nine-month periods ended September 30, 2001. Revenues for the first nine months of 2001 increased 144% to $17.5 million, compared with $7.2 million for the corresponding period last year. Profits for the first nine months of 2001 were $0.7 million, versus a loss of $6.1 million for the corresponding period of the prior year. Throughout 2001, eDiets paid membership base has increased by nearly 25,000 consumers quarter over quarter.
“More and more, consumers are becoming attracted to eDiets’ ‘New Diet Solution’, a program that combines a 24/7/365 online meeting with a personalized diet program and corresponding shopping list,” said David Humble, eDiets founder and CEO. “Today, consumers have increasingly less time to drive to conventional diet centers including those popularized by Weight Watchers® (NYSE:WTW) and Jenny Craig® (OTCBB:JCGI), instead utilizing online diet services such as those eDiets offers that are more convenient, private and cost effective.”
Recent Company Highlights:
· On October 19, 2001, the Company completed its merger with DietSmart, Inc., the second largest online diet center following eDiets and, prior to the merger, its most significant online competitor.
· The total eDiets online community, including opt-in subscribers to the Company’s bi-weekly digital eDiets Diet & Fitness News newsletter, is currently nearing an all time high of 10 million consumers.
About eDiets.com, Inc.
eDiets.com, Inc. (OTCBB:EDET) is the online diet services category leader that has been dedicated to helping consumers improve their health and wellness through online subscription-based personalized diet, fitness and motivational programs, products and services since 1996. The Company operates a central Web site where consumers may select a custom-tailored diet and/or fitness program that is accessible to them at anytime, from anywhere via any Internet-enabled computer. eDiets also offers a comprehensive online Support Center that is available 24/7/365, through which members can participate in online meetings, support groups and other interactive support features. With over 300,000 paid members throughout the third quarter of 2001 and upwards of 10 million opt-in subscribers to its proprietary bi-weekly newsletter, eDiets Diet & Fitness News, eDiets combines convenience, personalization, privacy and support as an online alternative to traditional programs popularized by Weight Watchers® (NYSE:WTW), Jenny Craig® (OTCBB:JCGI) and other offline diet companies. eDiets’ maintains its corporate office in Deerfield Beach, Florida, with a satellite office located in Manhattan. Among other honors received, eDiets.com was named a Forbes Magazine "Best of the Web" fitness and nutrition Web site in both 2000 and 2001.
Statements in the release, which are not historical in nature, are forward – looking statements. Forward-looking statements involve known and unknown risks and uncertainties which could cause the actual results, performance or achievements of the Company to be materially different from those which may be expressed or implied by such statements. These risks and uncertainties include, among others, changes in general economic and business conditions, changes in product acceptance by consumers, effectiveness of sales and marketing efforts, loss of market share and pressure on prices resulting from competition, and inability to obtain sufficient financing. For additional information regarding these and other risks and uncertainties associated with eDiets.com business, reference is made to the Company’s Annual Report on Form 10-KSB for the year ended December 31, 2000, and other reports filed from time to time with the Securities and Exchange Commission. All forward-looking statements are current only as of the date on which such statements are made. The Company does not undertake any obligation to publicly update any forward-looking statements.
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