-- 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.
VisionChina Media (Nasdaq: VISN) Closed at $5.71, Today announced the signing of an exclusive agency framework agreement with Beijing Subway to expand operations of the Company's mobile digital television advertising network to operational portions of Beijing Subway Line 5, the Olympic Line (which is part of Line 8) and Line 10. A definitive agreement will be signed within 30 days.
Signed on November 17, 2008, the 1-year agreement grants VisionChina Media the exclusive right to operate on three additional subway lines in Beijing as well as on the platforms that service the lines. These three lines together feature 3,792 screens inside train cars and 793 screens installed on platforms in the 47 subway stations that serve the subway lines.
What They Do: VisionChina Media operates an out-of-home advertising network on mass transportation systems, including buses and subways that reach over 26 million viewers each day in China, according to CTR Market Research. As of September 30, 2008, VisionChina's advertising network included over 62,250 digital television displays on mass transportation systems in 17 of China's economically prosperous cities, including Beijing, Guangzhou, Shanghai and Shenzhen.
How They Trade: VISN has a 52 week high of $25.60 and a 52 week low of $4.25.
STEC, Inc. (Nasdaq: STEC) Closed at $3.52. Today announced, that its board of directors has authorized the Company to repurchase up to $10 million of its common stock over an 18-month period commencing November 19, 2008 following the expiration of its existing stock repurchase plan on November 18, 2008. As of September 30, 2008, STEC had approximately 51.2 million shares of common stock outstanding.
What They Do: STEC, Inc. designs, develops, manufactures and markets custom memory solutions based on Flash memory and DRAM technologies.
How They Trade: STEC has a 52 week high of $14.25 and a 52 week low of $3.45.
Alkermes (Nasdaq: ALKS) Closed at $7.65. Today announced positive preclinical results for its proprietary small molecule candidate, RDC-1036, which emerged from a library of novel opioid modulators. The data demonstrated RDC-1036 was effective in reversing opioid effects on gastrointestinal motility. Data also showed that oral administration of RDC-1036 had greater efficacy at a lower dose and for an extended period of time compared to an active comparator, methylnaltrexone. The data were presented at the 38th Annual Meeting of the Society for Neuroscience in Washington, D.C.
According to IMS Health, 200 million prescriptions were written for opioids in 2007 in the United States. Many studies indicate that a high percentage of patients receiving opioids are likely to experience side effects affecting gastrointestinal motility.
What They Do: Alkermes, Inc., a biotechnology company committed to developing innovative medicines to improve patients' lives, manufactures RISPERDAL CONSTA for schizophrenia and developed and manufactures VIVITROL for alcohol dependence. Alkermes' robust pipeline includes extended-release injectable, pulmonary and oral products for the treatment of prevalent, chronic diseases, such as central nervous system disorders, addiction and diabetes.
How They Trade: ALKS has a 52 week high of $17.05 and a 52 week low of $6.77.
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