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24/7 Real Media
REAL MEDIA REPORTS STRONG RESULTS FOR FOURTH
QUARTER AND FULL YEAR 2004
Fourth Quarter Highlights:
Revenue of $27.5 million, an increase of 109% over the comparable period in 2003.
Pro forma operating income of $1.5 million, or $0.03 per share, compared with $0.2 million, or $0.01 per share, in Q4 of 2003; GAAP net loss of $2.8 million, or $0.06 per share, versus a loss of $6.0 million, or $0.26 per share, in Q4 of 2003.
Integration of leading Search Engine Marketing company, Decide Interactive.
Continued expansion and development of Pacific-Rim operations.
NEW YORK March 2, 2005 24/7 Real Media, Inc. (Nasdaq: TFSM), a pioneer in interactive marketing and technology, today announced financial results for the fourth quarter and full year ended December 31, 2004. Revenue for the fourth quarter of 2004 was $27.5 million, an increase of 32% from the $20.8 million reported during the third quarter of 2004, and an increase of 109% from the $13.2 million reported for the fourth quarter of 2003. Fourth quarter comparisons benefited from the inclusion of a full quarter of operations for Real Media Korea and Decide Interactive, acquired in January and August of 2004, respectively.
The Company reported solid revenue growth and improved profitability, both sequentially and year-over-year, in each of its business segments and geographic regions. 24/7 Real Media continued to expand its global reach in 2004, and non-U.S. operations contributed 52% of the Companys revenue in the fourth quarter.
Pro forma operating income(1) for the fourth quarter of 2004 was $1.5 million, or $0.03 per share. This compares with pro forma operating income of $206,000, or $0.01 per share, for the fourth quarter of 2003.
Net loss computed in accordance with generally accepted accounting principles (GAAP) for the fourth quarter was a loss of $2.8 million or $0.06 per share compared with a loss of $6.0 million or $0.26 per share for the fourth quarter of 2003.
For the year ended December 31, 2004, revenue was $85.3 million, an increase of 73% from the $49.2 million reported for the year ended December 31, 2003. Pro forma operating income for the 2004 fiscal period was $2.4 million, or $0.06 per share, a significant improvement over a loss of $670,000, or $0.04 per share, in the prior year. GAAP net loss for 2004 was $3.5 million, or $0.10 per share, compared with a GAAP net loss of $14.4 million, or $0.86 per share, in 2003.
2004 was a dynamic year for 24/7 Real Media, said David J. Moore, chairman and chief executive officer of 24/7 Real Media. We achieved a number of key objectives during the year, in particular our expansion into Asia and a significant Search acquisition, which has already been validated by industry recognition for its leading search technology platform, Decide DNA. Working with new management at Lycos, we improved our working relationship, and we completed the integration of Decide Interactive, transitioning all existing 24/7 Search clients onto the new technology platform. Finally, we continued with the development and marketing of behaviorally targeted advertising solutions through 24/7 OnTarget. All of these efforts combined to produce a strong performance by the Company in the fourth quarter, and we are pleased to report that the solid business momentum has continued into the first part of 2005.
The following information was filed by 247 Real Media Inc on Thursday, March 3, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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