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SNAP Interactive (OTCBB: STVI) Closed at $0.75. Today announced record operating results for the quarter ended September 30, 2008.
-- Revenue: $871,324, as compared to $533,257 -- a 63% increase -- Net Income: $410,283, as compared to $144,862 -- a 183% increase -- Earnings per Share (EPS): $0.04, as compared to $0.01
"To put it simply, SNAP is already profitable and we have grown our revenue for 5 consecutive quarters -- despite an early focus on growth ahead of monetization. We nearly tripled quarterly net income in the third quarter by virtue of increasing traffic to our existing applications and the advertising programs built within," stated SNAP President and CEO Clifford Lerner. "We also began offering paid premium features through our applications and look forward to expanding that revenue driver in the future. We have long believed that developing a critical mass user base was Priority #1 for a dating application; having now accomplished that with more than 16 Million total users we can turn our attention to new and inventive revenue driving strategies, evolving not only our own business model but the entire Social Network Application industry landscape. We are particularly excited about the expansion potential of the mobile device opportunity.
"We are very proud of the significant milestones we have achieved to date, and we believe that the next twelve months will offer new and exciting opportunities, both for SNAP and the greater space we are helping to define."
What They Do: SNAP Interactive, Inc. is a leading provider of online dating applications for social networking websites. SNAP has developed two dating applications built on Facebook® Platform which have in excess of 15 million installations, and has also launched dating applications on MySpace Developer Platform & Hi5 Developer Platform. Our applications are called 'Are You Interested,' 'Meet New People,' and 'Flirt With Me.'
How They Trade: STVI has a 52 week high of $1.10 and a 52 week low of $0.15.
Lowe's Companies (NYSE: LOW) Closed at $18.23. Today announced net earnings of $488 million for the quarter ended October 31, 2008, a 24.1 percent decline from the same period a year ago. Diluted earnings per share declined 23.3 percent to $0.33 from $0.43 in the third quarter of 2007. For the nine months ended October 31, 2008, net earnings declined 15.3 percent to $2.03 billion while diluted earnings per share declined 12.7 percent to $1.38.
Sales for the quarter increased 1.4 percent to $11.7 billion, up from $11.6 billion in the third quarter of 2007. For the nine months ended October 31, 2008, sales increased 0.9 percent to $38.2 billion. Comparable store sales for the third quarter declined 5.9 percent and declined 6.5 percent in the first nine months of 2008.
What They Do: With fiscal year 2007 sales of $48.3 billion, Lowe's Companies, Inc. is a FORTUNE 50 company that serves approximately 14 million customers a week at more than 1,600 home improvement stores in the United States and Canada.
How They Trade: LOW has a 52 week high of $28.49 and a 52 week low of $15.76.
Level 3 Communications (Nasdaq: LVLT) Closed at $0.87. Today announced that it has reached agreements to sell up to $400 million aggregate principal amount of its 15% convertible senior notes due 2013. Level 3 intends to use the net proceeds from the offering of the notes, together with cash on hand, to fund purchases of any and all of its (i) 2.875% Convertible Senior Notes due 2010, (ii) 6% Convertible Subordinated Notes due 2010 and (iii) 6% Convertible Subordinated Notes due 2009, pursuant to three separate tender offers for such notes that Level 3 commenced today.
What They Do: Level 3 Communications is a leading international provider of fiber-based communications services. Enterprise, content, wholesale and government customers rely on Level 3 to deliver communications services with an industry-leading combination of scalability and quality, over an end-to-end fiber network. Level 3 offers a portfolio of metro and long haul services over an end-to-end fiber network, including transport, data, internet, content delivery and voice.
How They Trade: LVLT has a 52 week high of $4.48 and a 52 week low of $0.60.
Eli Lilly and Company (NYSE: LLY) Closed at $32.06 and United Therapeutics Corporation (Nasdaq: UTHR) today announced that the two companies have entered into a license and a supply agreement related to the U.S. commercialization rights for the pulmonary arterial hypertension (PAH) indication of Lilly's molecule, tadalafil. The PAH indication is currently under regulatory review in the United States, Canada, Mexico, Japan and the European Union.
Under the terms of the agreements, United Therapeutics will make an upfront payment of $150 million to Lilly for the exclusive rights to commercialize tadalafil for PAH in the United States, as well as for a product manufacturing and supply arrangement. Lilly will manufacture and supply tadalafil to United Therapeutics and will retain authority globally for all regulatory, development, intellectual property and manufacturing aspects of the tadalafil molecule for all potential indications.
What They Do: Lilly, a leading innovation-driven corporation, is developing a growing portfolio of first-in-class and best-in-class pharmaceutical products by applying the latest research from its own worldwide laboratories and from collaborations with eminent scientific organizations. Headquartered in Indianapolis, Ind., Lilly provides answers -- through medicines and information -- for some of the world's most urgent medical needs.
How They Trade: LLY has a 52 week high of $57.52 and a 52 week low of $29.25.
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