Wedding site The Knot saw profits fall about 64 percent to $771,000 for the 3rd quarter when compared to last year, as debt and other expenses dragged earnings down.
But the marriage business isn’t completely on the rocks: net revenues were up 4 percent while merchandising dollars grew 30 percent. Via Paid Content.
Back in 2005 we learned The Knot “…syndicates our content in 70 newspapers nationwide. Our TV series… now reaches over 50 million U.S. homes… also available on Comcast”.
In 2006 I wrote “The Knot enjoyed revenue up 27 percent in Q4 but expenses were up to $36.9 million, including 4.8 million in legal fees related to litigation with WeddingChannel.com.”
The Knot bought WeddingChannel.com, which was run by Adam Berger, past CEO of Spark Networks.
In October 2007, The Knot named Janet Scardino as President and Chief Marketing Officer.
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Hmm maybe I’m reading things differently. Reuters (http://www.reuters.com/article/pressRelease/idUS247313+05-Nov-2009+BW20091105) said that “Net income for the third quarter of 2009 was $771,000 or $0.02 per basic and diluted share compared to net income of $2.2 million or $0.07 per basic and diluted share for the third quarter of 2008.”
That was just the 3rd quarter though so your first sentence should read:
“Wedding site The Knot saw profits fall about 64 percent to $771,000 for the 3rd quarter when compared to last year, as debt and other expenses dragged earnings down.”
Their net profit for the year to date, Sept 30th 2009, is $28.2 million compared with net revenue of $27.0 million for the third quarter of 2008, an increase of 4%.