Professional Diversity Network Inc. (IPDN)

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Check this out Roy. The last sentence is very interesting.

Professional Diversity Network, Inc. (IPDN) is an Internet software and services company that develops and operates online professional networking communities dedicated to serving diverse professionals in the United States and employers seeking to hire diverse talent. IPDN's subsidiary, National Association of Professional Women, is one of the largest, most recognized networking organizations of professional women in the country, spanning more than 200 industries and professions.

Through an online platform and its relationship recruitment affinity groups, IPDN provides its employer clients a means to identify and acquire diverse talent and assist them with their efforts to comply with the Equal Employment Opportunity Office of Federal Contract Compliance Program.

IPDN reports triple-digit Q3 revenue increase

Last month, IPDN reported that its revenues for the third quarter ended Sept. 30 increased 493 percent to $9.3M, up from $1.6M in the comparable period a year ago.

In addition, the corresponding gross margins were 84% and 75% in the third quarters of 2015 and 2014, respectively, and registered users in the company's PDN division increased by 19% sequentially, from 5.7M users in Q2 to 6.8M users in Q3, a Nov. 16 press release stated.

"The third quarter marked significant progress in streamlining our operations and focusing on profitable business opportunities," said IPDN's CEO Jim Kirsch in the Nov. 16 press release. "Each of our major groups advanced meaningfully toward profitability and we finished the quarter on a high note, approaching Adjusted EBITDA break-even in the third month of the quarter."

IPDN announces stock buyback

The company also announced in October that its Board of Directors approved a share buyback of up to $1.2M of its outstanding stock. This buyback is set to begin in 2016 and is expected to be funded from the company's free cash flow, an Oct. 8 press release stated.

"Over the past year we have integrated three companies, identified synergies and eliminated redundancies, and continued to manage toward profitability," Kirsch said in the Oct. 8 press release. "Our Management and our Board share the belief that our stock is undervalued. As we enter the fourth quarter, our goal is to achieve sustainable positive cash flow from operations. Our previous investments into our business platform position us to grow our revenues without additional or reinvested capital from operations, and, we are therefore committed to maximizing shareholder value by reinvesting our profits into our own stock."

To learn more about IPDN, visit: http://www.prodivnet.com/.

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