Adtegrity.com Reports Improved 1st Quarter Results
GRAND RAPIDS, Mich., April 25 /PRNewswire-FirstCall/ — Adtegrity.com (Pink Sheets: ADTY - News), a Grand Rapids, Mich.-based company specializing in Internet advertising networks and services, today reported significantly improved revenues for the first quarter ended March 31, 2008.
The Company’s unaudited results included net income of $34,000 for the first quarter on revenues of $4.3 million, compared with net income of $147,000 on revenues of $3 million for the same quarter last year.
“We are very pleased with our 43 percent increase in revenue for the first quarter and view it as validation of our strategic investments in people and infrastructure,” said Adtegrity.com president and CEO Scott Brew. “We added five additional staff members during the period, primarily in sales. While these additions did reduce our bottom line for the period, we view them as important assets that will permit us to continue to scale with the opportunities we see in the marketplace.”
Adtegrity reported serving more than 31 billion ad impressions during the period, approximately the same total as the first quarter of 2007. The Company also noted that it has adjusted its 2007 year-end results following its annual independent audit. Net income for 2007 has been revised upward from the previously reported $50,358 to $147,689 as a result of reduced tax liability. Reported revenues did not change.
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.
