MIAMI - Transmedia Network Inc., the discount dining card company, announced record revenues of $16 million in its first fiscal quarter, which ended Dec. 31.
Revenues were up 50% from the prior year's quarter. Net income rose to just over $1 million, or 12 cents per share.
The company also said that in addition to 25% discounts on meals in participating restaurants, it is testing the appeal of broader acceptance at 24 inns and hotels and the Hunter Mountain Ski Bowl in New York State.
Transmedia has 445,000 cardholders and 4,100 restaurants in its program. Purchases made on the charge card are automatically billed to customers' credit card of choice.