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COPYRIGHT 2003 Adams Business Media
Ticker: IRN:AMEX
Analyst: Alan Weichselbaum 212-803-9078 aweichselbaum@fulcrumgp.com
Associate Analyst: Tim Petrycki 212-803-9064
IRN: Anticipated Hotel Platform Announced on the Heels of Another Strong Quarter--Buy
Company Description:
iDine Rewards Network operates consumer loyalty and rewards programs through more than 10,000 participating restaurants and other merchants across the United States. In the spring of 2003, iDine is introducing hotel rewards. Founded in 1984, iDine currently has 17.2 million credit cards registered through 12.7 million enrolled accounts. Incentives are offered through the company's rewards programs, either branded under the name iDine or provided through co-branded and private label partnerships, such as airline frequent flyer programs, club memberships or other affinity organizations.
Decision Points:
* IRN reports another record quarter with record revenues of $22.9 million, EPS of $0.14 and 2.47 million active members. As with the entire 2002, iDine's business model remains one of the only growth stories in this economy.
* Trial usage by members and restaurants increases during economic slowdowns. In the past, a weak economy has spurred...
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