Adtegrity.com Reports 3rd Quarter Results
GRAND RAPIDS, Mich., Oct 30, 2007 /PRNewswire-FirstCall via COMTEX/ — Adtegrity.com (Pink Sheets: ADTY), a Grand Rapids, Mich.-based company specializing in Internet advertising networks and services, today reported its results for the third quarter and nine months ended September 30, 2007.
The Company reported a net loss of $986 on net revenues of $3.1 million for the third quarter, compared with a net loss of $63,200 on net revenues of $1.4 million for the same quarter last year. Year to date, Adtegrity reported net income of $151,102 on net revenues of $8.4 million
Adtegrity said additional sales activity necessitated new investments in infrastructure during the third quarter, leading to the slight net loss for the period. The Company recently signed an agreement to expand its office space by 60 percent and has increased its staff from 10 to 18 employees in 2007, with additional hiring expected into the first quarter of 2008.
During the third quarter, Adtegrity reported delivering more than 22.5 billion impressions, resulting in over 80 million clicks by consumers and more than two million new customers for the Company’s clients. Year-to-date, Adtegrity has delivered 74 billion impressions yielding over 230 million click-throughs and more than 4.5 million new customers for clients.
“Our rate of top-line growth has been strong during the course of the year, leading us to make important third-quarter investments in the people and office space we believe we will need to keep pace with the market,” said Adtegrity.com president and CEO Scott Brew. “While these expenses have a near-term impact on our bottom line, we believe the additional capacity will be necessary going forward.”
Brew also noted that the accounting firm of Plante & Moran recently completed its 2006 independent audit of the Company, and no material changes to previously reported results were required. Adtegrity intends to continue with annual independent audits going forward.
Adtegrity.com’s primary business is the delivery of interactive advertising and marketing services. Since its founding in 1999, the Company has established itself as a results-driven, customer-focused firm consistently ranking among the top 10 online advertising networks in the world. Adtegrity currently serves thousands of website clients and delivers billions of advertising impressions each month to tens of millions of unique users. For more information, visit www.adtegrity.com.
Forward-Looking Statements: This news release may include certain forward- looking statements including, but not limited to, projections of revenue, income or loss and capital expenditures, statements regarding future operations, financing needs, plans relating to products or services of the Company, assessments of materiality, predictions of future events and the effects of pending and possible litigation, as well as assumptions relating to the foregoing. In addition, when used in this discussion, the words “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” “should,” and variations thereof and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to the Company’s ability to manage rapid growth as a result of internal expansion and strategic acquisitions, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, the regulatory environment, fluctuations in operating results and other risks.
