SNAP Interactive, Inc. Reports First Quarter Financial Results Revenue of $519,902, Net Income of $190,509, and EPS of $0.02
Market Wire, May, 2008
SNAP Interactive, Inc. (OTCBB: STVI), a leading provider of social networking applications, reported financial results for the first quarter ended March 31, 2008. With revenue of $519,902 and net income of $190,509, SNAP Interactive, Inc. is pleased to announce earnings per share of $0.02 for the quarter.
Cliff Lerner, CEO of SNAP, stated, "The company will react to the needs of its user base and continue to create fun applications and add new features that its members will enjoy." Lerner further stated that he is "pleased with the quarterly results and as always SNAP seeks to enhance shareholder value."
About SNAP Interactive, Inc.
Incorporated in Delaware and headquartered in New York, SNAP Interactive, Inc. is a leading provider of online dating applications for social networking websites. SNAP has developed several applications built on Facebook® Platform & MySpace Developer Platform which have in excess of 12 million installations. Our applications are called 'Are You Interested,' 'Meet New People,' and 'Flirt With Me.'
We also own a free online dating website called IamFreeTonight.com. IamFreeTonight.com offers all standard online dating features for singles in addition to its unique Wingman and Date Now concepts.
For more information visit http://www.snap-interactive.com . Facebook® is a registered trademark of Facebook Inc.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. By their nature, forward-looking statements and forecasts involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the near future. There are a number of factors that could cause actual results and developments to differ materially from forecasted results. These risks and uncertainties include product demand, market competition, delays in website development, technical issues beyond our control, and risks inherent in our operations. For a discussion of these risks and uncertainties, please see our filings with the Securities and Exchange Commission. Our public filings with the SEC are available from commercial document retrieval services and at the website maintained by the SEC at http://www.sec.gov .
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Contact: Clifford Lerner Email Contact 516-942-2030
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