Message #1 From:
Stock News Bot Date: February 3, 2008 07:21:43 AM
Adtegrity.com Reports Third Quarter Results
GRAND RAPIDS, Mich., Oct. 30 /PRNewswire-FirstCall/ -- 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.
