GRAND RAPIDS ? Internet Advertising Network specialist Adtegrity.Com cut its losses dramatically for the third quarter, but still posted another loss.
The Pink Sheets traded stock reported a net loss of $986 on net revenues of $3.1 million for the third quarter, compared with a loss in the year ago third quarter of $63,200 on net revenues of $1.4 million. Year to date, Adtegrity reported a profit of $151,102 on 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 more than 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 CEO Scott Brew said in a prepared statement. “While these expenses have a near-term impact on our bottom line, we believe the additional capacity will be necessary going forward.”
Brew, who doesn?t talk to the local press, also said in his statement that the accounting firm of Plante & Moran recently completed its 2006 independent audit of Adtegrity.Com, and no material changes to previously reported results were required. Adtegrity intends to continue with annual independent audits going forward.
Adtegrity currently serves thousands of web site clients and delivers
billions of advertising impressions each month to tens of millions of
unique users. For more information, click on Adtegrity.Com
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