[May 21, 2013] Snap Interactive Q1 net loss decreases Tweet May 21, 2013 (Datamonitor via COMTEX) -- Snap Interactive, Inc., a social dating developer, has reported that net loss for the first quarter ended March 31, 2013 was $283,889, or $0.01 loss per share, compared to a net loss of $2.99 million, or $0.08 loss per share, for the same quarter ended March 31, 2012. Total revenues for the first quarter ended March 31, 2013 were $3.47 million, compared to $5.74 million for the same quarter ended March 31, 2012. Loss from operations for the first quarter ended March 31, 2013 was $1.39 million, compared to a loss from operations of $1.71 million for the same quarter ended March 31, 2012. Total assets as of March 31, 2013 were $6.09 million, compared to $6.99 million, as of December 31, 2012. Jon Pedersen, Sr., SNAP's CFO, said: "Our results for the first quarter of 2013 reflect a significant decrease in advertising and marketing spend from the comparable period in 2012, which primarily affects new user acquisition. We began to decrease our user acquisition costs during the second quarter of 2012 as we focused on redesigning and re-launching our AYI product. While total revenues for the first quarter of 2013 were down 12% from the fourth quarter of 2012 and bookings for the first quarter of 2013 were down only 5% from the fourth quarter of 2012, monthly bookings are the highest since October 2012." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon [ Back To TMCnet.com's Homepage ]