[PR] eDiets.com Reports Q1 Revenues of $11.1 Million

"The company reported revenues of $11.1 million for the first quarter of fiscal 2004, representing 51% growth over revenues of $7.3 million for the first quarter of fiscal 2003. The net loss for the period was $3.0 million, or $0.16 per share, compared to a net loss of $2.0 million, or $0.13 per share, for the comparable prior year quarter. [...] eDiets.com sold 119,000 new subscriptions during the first quarter of fiscal 2004, an increase of 49% over sales of 80,000 new subscriptions in the comparable prior year period. Paying subscribers at March 31, 2004 totaled approximately 204,000 compared to paying subscribers of approximately 180,000 at March 31, 2003, an increase of 13%."

Once again, eDiets.com attributes its lack of profitability in part to "rising online advertising rates."

04/27/04 update: Tom Hespos chimes in.

[Sponsor: ContentBiz's 4th Annual Subscriptions Summit, NYC May 10-11 -- interestingly someone from eDiets is among the speakers.]