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eDiets.com(R) Announces Q2 2008 Results
Date:8/6/2008

FORT LAUDERDALE, Fla., Aug. 6 /PRNewswire-FirstCall/ -- eDiets.com, Inc. (Nasdaq: DIET), leveraging the power of the Internet to bring diet, fitness and healthy lifestyle solutions to everyone, today announced results for the second quarter and six months ended June 30, 2008.

Revenues for the second quarter of 2008 were $6.5 million, compared to $7.6 million in the prior year period. Net loss for the quarter was $(3.1) million, or $(0.12) per diluted share, for the second quarter of 2008, compared to $(1.4) million, or $(0.06) per diluted share, for the second quarter of 2007.

Adjusted EBITDA*, defined as net income (loss) before interest, taxes, depreciation, amortization, stock-based compensation, severance charges, bad debt expense and loss on disposition of assets, for the quarter ended June 30, 2008 was $(1.4) million compared to ($0.4) million in the prior year period.

For the six months ended June 30, 2008, the Company recorded revenues of $15.2 million compared $16.0 million for the same period last year. Net loss was $(8.3) million, or $(0.33) per share, compared to $(2.7) million, or $(0.11) per share, for the first six months of 2007. Adjusted EBITDA for the first half of 2008 totaled $(4.8) million compared to $(0.9) million in the comparable year period.

Second Quarter 2008 and Subsequent Highlights:

-- Achieved over 280% increase in Q2 2008 meal delivery revenues from

prior year

-- Signed and launched co-branded meal delivery program with national

health and wellness expert Jillian Michaels of NBC's The Biggest Loser

-- Signed 8 B2B contracts and launched 5 B2B programs year-to-date

-- Signed new agreement with food supplier significantly improving<
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SOURCE eDiets.com, Inc.
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