GRAND RAPIDS – Adtegrity, an Internet advertising network, Tuesday reported a sharp drop in net income for the third quarter ended Sept. 30, with a corresponding drop in revenues.
Adtegrity?s unaudited results included net income of $80,892 for the third quarter on revenues of $4.3 million, compared with a net income of $419,215 on revenues of $5.03 million for the same quarter last year.
“Unfortunately, our recent investments in headcount didn’t translate to improvements in our financial performance. We have also experienced slower-than-expected market growth in political ad spending for the year. At the same time, we believe we have a solid plan, we remain profitable and we are optimistic that we will see increased sales momentum as we move forward,” said Adtegrity President and CEO Scott Brew. “We remain focused on taking Adtegrity to the next level of performance, and will continue to invest in growing the company.”
Adtegrity reported serving more than 47.6 billion ad impressions during the third quarter, resulting in 27.9 million clicks and 395,000 conversions for Adtegrity advertisers.
