Key Developments For eDiets.com Inc
eDiets.com Inc (DIET.O) (Consolidated Issue listed on NASDAQ Capital Market)
eDiets.com, Inc. Issues FY 2009 Guidance Below Analysts' Estimates; Issues Q1 2009 Guidance; Revenue Guidance Below Analysts' Estimates-Conference Call
eDiets.com, Inc. announced that for fiscal 2009, it expects modest sequential revenue growth and improvement in bottom line. The Company also expects to modestly increase revenue and improve bottom line results in the first quarter of 2009 compared to fourth quarter 2008 results. The Company reported loss per share of $0.58 on revenue of $23.9 million in fiscal 2008; loss per share of $0.13 on revenue of $3.97 million in the fourth quarter of 2008. According to Reuters Estimates, analysts on an average were expecting the Company to report loss per share of $0.14 on revenue of $48 million for fiscal 2009; loss per share of $0.11 on revenue of $10 million for the first quarter of 2009.
eDiets.com, Inc. Appoints Kevin N. McGrath as President and CEO
eDiets.com, Inc. announced that it has appointed Kevin N. McGrath as the Company's new President and Chief Executive Officer (CEO), effective immediately. Stephen Rattner, who served as eDiets CEO since November 2007, will now serve as Executive Vice President of Corporate Services.
eDiets.com, Inc. Withdraws FY 2008 Revenue Guidance
eDiets.com, Inc. announced that challenging macroeconomic conditions and short term delays in key B2B launches, however, make it unlikely that the anticipated benefits and operating leverage from the new technology platform and accelerated growth of the B2B and meal delivery businesses will occur in 2008. Given that its previously issued revenue guidance for fiscal 2008 of $50 million reflected these assumptions, the Company withdrawing the financial guidance at this time.
Jillian Michaels and Waterfront Media Partner With eDiets.com, Inc. On Meal Delivery Plan
eDiets.com, Inc. announced their partnership with national health and wellness expert Jillian Michaels of NBC's The Biggest Loser and Waterfront Media, the privately held online health company and operator of Jillian Michaels Online. The new program, powered by eDiets, distributes a co-branded meal plan for in-home delivery, called The Jillian Michaels Meal Delivery Plan. It is a comprehensive weight loss program that features freshly prepared meals and snacks in calorie-smart portions.
eDiets.com, Inc. Reaffirms FY 2008 Revenue Guidance
eDiets.com, Inc. reiterated its previously issued fiscal 2008 guidance of approximately $50 million in revenue. According to Reuters Estimates, analysts were expecting the Company to report revenue of $48 million.
