Filed Pursuant to Rule 424(b) (3)
Registration Number 333-60686
Prospectus Supplement dated November 29, 2001
To Prospectus dated July 6, 2001 of LendingTree, Inc.
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported)
November 29, 2001 (November 28, 2001)
LENDINGTREE, INC.
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(Exact name of registrant as specified in its charter)
DELAWARE 25-1795344
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(State or other jurisdiction 000-29215 (I.R.S. Employer
of incorporation) Commission File Number Identification Number)
11115 Rushmore Drive
Charlotte, NC 28277
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(Address of principal executive offices) (Zip code)
(704) 541-5351
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(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
LENDINGTREE HOSTS `OPEN HOUSE' FOR INVESTORS AND ANALYSTS
o COMPANY REAFFIRMED CURRENT GUIDANCE FOR REMAINDER OF 2001 AND
2002.
o MANAGEMENT DISCUSSED FUTURE OUTLOOK AND GROWTH PROJECTIONS,
REITERATING FIVE-YEAR TARGETS OF $250 MILLION IN REVENUE AND
EARNINGS PER SHARE OF $1.25 TO $1.70.
o OTHER TOPICS PRESENTED BY MANAGEMENT INCLUDED LENDER BEST
PRACTICES, MARKETING, CONVERSION RATES, TECHNOLOGY, AND
CORPORATE STRATEGY.
LendingTree, Inc. conducted an open house for investors and analysts in
Charlotte, N.C. on November 27, 2001. The event gave attendees a chance
to meet and interact with the Company's management team, as well as
discuss the Company's operations and business initiatives.
LendingTree Founder and CEO Doug Lebda stated, "The theme of the day was
to discuss how LendingTree is the breakaway leader in online lending
with a proven, scalable business model that is poised for significant
growth, profitability, and shareholder value. Our strong operating
results remain on track with existing guidance for the fourth quarter of
2001 and for 2002. LendingTree continues to expect to achieve operating
cash flow profitability during the first quarter 2002."
President and COO Tom Reddin stated, "LendingTree's mission has been
expanded to be the dominant lending exchange by empowering consumers,
lenders, and related service providers, generating more than $100
billion in closed loans by 2006. This builds on the tremendous progress
that we have achieved over the past few years, meeting or exceeding all
of our key milestones."
LendingTree's Senior Vice President and CFO Keith Hall provided future
outlook and growth projections, reiterating the Company's long term
revenue and return on sales guidance, as discussed during previous
earnings releases and conference calls.
Hall stated, "LendingTree has secured its position as the most
recognized brand in online lending. Our No. 1 brand awareness position,
the continued growth of online lending, and forecasted improvements in
transmit and close rates are the key components for us to achieve our
2006 targets. These targets include $250 million in revenue, 25 to 30
percent return on sales, EBITDA per share of $1.50 to $2.00, and
earnings per share (EPS) of $1.25 to $1.70 on a fully diluted basis. We
expect an EPS growth rate of 30 to 50 percent in 2006 and beyond."
The LendingTree management team presented various other topics,
including best practices in closing loans online, the LendingTree brand
architecture and its role in driving consumer demand, and the current
strategies being utilized to increase conversion on the LendingTree
Exchange.
Lebda concluded, "We are very pleased with the level of interest and
recognition of our lending exchange model. We feel that investors and
analysts are now truly differentiating our model from others in the
consumer finance industry."
A COPY OF THE PRESENTATIONS GIVEN AT THE OPEN HOUSE CAN BE OBTAINED BY
CONTACTING LENDINGTREE VICE PRESIDENT OF FINANCE, BRIAN REGAN, VIA E-MAIL AT
BREGAN@LENDINGTREE.COM OR PHONE AT (704) 944-8531
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial statements of business acquired - Not Applicable
(b) Pro forma financial information - Not Applicable
(c) Exhibits - Not Applicable
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
LENDINGTREE, INC.
Date: November 29, 2001 By: /s/ Keith Hall
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Keith B. Hall,
Senior Vice President,
Chief Financial Officer
and Treasurer
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