January 26, 2015 1:47 PM ET

Internet Software and Services

Company Overview of Spark Networks, Inc.

Company Overview

Spark Networks, Inc. provides online personals services in the United States and internationally. It operates in four segments: Jewish Networks, Christian Networks, Other Networks, and Offline and Other Businesses. The company primarily owns and operates online singles desktop and mobile Web sites that enable adults to meet, participate in a community, and form relationships with like-minded individuals. The company’s Web sites offer various features that include posting of a personal profile and photos, onsite email centers, real-time chat rooms, instant messaging services, and offline singles events, as well as hotlists and favorites, message boards, ice breakers, and Click!; and are avail...

11150 Santa Monica Boulevard

Suite 600

Los Angeles, CA 90025

United States

Founded in 2007

201 Employees

Phone:

310-893-0550

Fax:

866-945-5209

Key Executives for Spark Networks, Inc.

Chief Financial Officer and Principal Accounting Officer
Age: 47
Total Annual Compensation: $271.6K
Chief Information Officer
Age: 50
Total Annual Compensation: $260.4K
Compensation as of Fiscal Year 2013.

Spark Networks, Inc. Key Developments

Spark Networks, Inc. Announces Management Changes

On December 15, 2014, Spark Networks, Inc. announced that the company’s Board of Directors will appoint Michael S. Egan as Chief Executive Officer, effective January 2, 2015. In conjunction with Mr. Egan’s appointment, Michael J. McConnell will step down from his position as Interim Executive Chairman on January 2, 2015, but will retain his role as Chairman of the Board. Mr. Egan is joining the company from Internet Brands, Inc., where he served in a number of capacities since 2008. He has most recently served as Senior Vice President and Group General Manager of the Home, Careers, Money and Health Divisions. Also on December 15, 2014, Stephen Davis resigned from the Board and Audit Committee of the company, effective immediately. Mr. Davis is not resigning from the Board due to any disagreement with the company on any matter relating to the company’s operations, policies, or practices. Also on December 15, 2014, effective immediately, the Board appointed Lee K. Barba to serve as director and member of the Audit Committee, with a term ending at the company’s 2015 annual meeting of stockholders. Mr. Barba fills the vacancy created by the resignation of Mr. Davis. At this time, the Board also has appointed Mr. Barba to the Audit Committee. Since 2009, Mr. Barba has been an active investor and a member of the board of directors of several privately held companies.

Spark Networks, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Spark Networks, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the period, the company reported net loss of $2,615,000 or $0.11 per basic and diluted share on revenue of $17,361,000 against net loss of $969,000 or $0.04 per basic and diluted share on revenue of $15,008,000 a year ago. Operating loss was $2,497,000 compared to $341,000 a year ago. Loss before income taxes was $2,420,000 compared to $681,000 a year ago. LBITDA was $1,862,000 compared to $141,000 a year ago. Adjusted LBITDA was $1,767,000 compared to adjusted EBITDA was $2,458,000 a year ago. The year-over-year decrease was primarily driven by a 14% decrease in average paying subscribers, reflecting a 15% and 9% decline in average paying subscribers for the Christian and Jewish Networks segments, respectively. For the nine months, the company reported net loss of $8,831,000 or $0.39 per basic and diluted share on revenue of $52,205,000 against net loss of $4,996,000 or $0.21 per basic and diluted share on revenue of $47,381,000 a year ago. Operating loss was $8,600,000 compared to $4,166,000 a year ago. Loss before income taxes was $8,428,000 compared to $4,489,000 a year ago. EBITDA was $6,911,000 compared to $2,865,000 a year ago. Adjusted LBITDA was $6,285,000 compared to adjusted EBITDA was $1,443,000 a year ago.

Spark Networks, Inc., Q3 2014 Earnings Call, Nov 06, 2014

Spark Networks, Inc., Q3 2014 Earnings Call, Nov 06, 2014

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