Points International Ltd. reported a net loss of $2.2 million on revenue of $2 million, compared with a loss of $1.3 million revenue of $1.5 million during second quarter 2003. The current quarter ended June 30.
The higher loss was driven by increased marketing expenses associated with activity growth, according to a company statement. Points International is a loyalty points exchange that enables members to swap points and miles between various rewards programs. Participating organizations include Starbucks, eBay, British Airways, Frontier Airlines and S&H Greenpoints.
General and administrative expenses between the two quarters rose from $1.7 million a year ago to $3.1 million during the quarter just ended. The company ended the quarter with 500,000 registered users in its database.
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