Rewards Network Inc. Reports Positive Operating Income and Cash Flow for the First Quarter and Announces $5.0 Million Stock Repurchase Plan
Market Wire, April, 2009
Definitions:
Qualified transaction amounts: Represents the total dollar value of all
member dining transactions at participating
merchants when a benefit is offered.
Qualified transaction amounts are divided
by the number of qualified transactions to
arrive at the average transaction amount.
Sales yield: Represents the percentage of qualified
transaction amounts that Rewards Network
reports as revenue. The percentage is based
on each agreement between the merchant and
Rewards Network.
Cost of dining credits: Represents the amount of dining credits,
at cost, redeemed by members when
transacting at participating merchants when
a benefit is offered. Under the Company's
Marketing Services Program, no dining
credits are purchased by Rewards Network.
Provision for losses: Represents the current period expense
necessary to maintain an appropriate
reserve against the Company's dining
credits portfolio. No provision is applied
to the Marketing Services Program, as the
Company does not purchase dining credits
under that program.
Total member benefits: Represents the dollar value of benefits
paid to members in Cashback Rewards(SM)
savings, airline miles, or other benefit
currencies, for dining at participating
merchants.
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