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|FriendFinder Networks Implements Cost Reduction Initiative|
"As part of our previously announced efforts to reorganize our operations into individual business units, we have taken commensurate steps to reduce our operating cost structure. We are confident these actions will enable our individual business units to operate more efficiently, and therefore, in a more cost-effective manner as we focus on growing our revenues," commented
The cost reduction initiative includes the consolidation of the Company's offices globally to fewer locations and relocating a number of operations to our main facility in Sunnyvale. In connection with this consolidation, there have been changes to the Company's workforce across multiple locations. In the first quarter of fiscal 2012, the Company expects to record a total charge of approximately
This press release includes "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, consequently, you should not rely on these forward looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.
Additional information concerning these and other risk factors is contained in the Company's most recent filings with the SEC. All subsequent written and oral forward-looking statements concerning the Company are expressly qualified in their entirety by the cautionary statements above and subject to such risk factors discussed in the Company's recent
This press release shall not constitute an offer to sell, or a solicitation of an offer to buy, nor shall there be any sale of the Company's securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
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