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CoolSavings 2Q Revenue Up, Closes Gap in Losses
PROMO Xtra, Jul 29 2003
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CoolSavings, Inc. has posted second quarter net revenues of $8.6 million, a 69% jump over $5.1 million, one year ago.
Income was $0.1 million, versus a net loss of $1.7 million in the same period last year. The Chicago-based firm also reported a profit of $8 million compared to $4.2 million. The quarter ended June 30.
The company said consumer packaged goods brands-based revenue for the quarter grew by more than 200% compared to one year ago, but did not offer specific revenue statistics. Printable coupon clips increased by 201%.
CPG companies using CoolSaving services in the first half of 2003 included Pampers, Keebler, Campbell's, Nestlé Toll House, Maybelline, Lean Cuisine, Crest, Oil of Olay, Draft, SC Johnson, Blue Bunny, Centrum and Advil among others, the company said.
An online marketing campaign brought in nearly 2 million new members during the second quarter. The firm has 27 million unique households registered with close to 12 million active during the 12-month period ended June 30.
For the six months ended June 30, revenue was $16.3 million versus $10.9 million during the same period in 2002. The net loss for the period was $0.9 million compared to $4.2 million.
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