Beijing on March 18th news, according to foreign media reports, due to the deterioration of the earthquake in Japan and the situation in the Middle East, from Glencore to Lagardè, re and many other companies have suspended the high-profile IPO program. But FriendFinder Networks seems willing to take risks.
on Thursday reiterated that it would continue to seek to become a publicly traded company. FriendFinder Networks includes a variety of online assets such as Penthouse magazine and porn sites and non pornographic websites. FriendFinder said that the file will be re submitted to the IPO. Last year, the media company to market conditions and other reasons have withdrawn IPO application.
so far, the company did not disclose the amount of money raised by IPO and the number of shares issued. The company’s debt of $510 million, IPO earnings can reduce its debt burden. FriendFinder’s business has improved, in 2010 its revenue growth for third consecutive years, reaching about $346 million.
calculated in accordance with GAAP (GAAP), the company lost $43 million 200 thousand last year, an increase of nearly 5% over 2009, but excluding interest, taxes, depreciation and amortization of profits reached $74 million. Excluding one-time costs and benefits, adjusted earnings of $105 million 400 thousand.
FriendFinder said that in December last year, its global access to 196 million independent users. The company also said that in 2010 the average monthly increase of about 1 million users. The company’s IPO underwriters from the original Renaissance Securities (Cyprus) and Ledgemont Capital Markets, into Imperial Capital and Ladenburg Thalmann.