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24/7 REAL MEDIA, INC.
24/7 REAL MEDIA REPORTS STRONG THIRD QUARTER 2005 FINANCIAL RESULTS
Company Exceeds Q3 Guidance; Raises Guidance for Full-Year 2005 and Full-Year 2006
Third Quarter Highlights:
Revenue of $35.1 million, an increase of 69% over the comparable period in 2004.
Pro forma operating income of $0.05 per share compared with $0.00 per share in Q3 of 2004; GAAP net loss of $0.02 per share versus a GAAP net loss of $0.04 per share in Q3 of 2004.
Formation of joint venture with Dentsu Inc. to deliver search engine marketing services in Japan.
NEW YORK November 2, 2005 24/7 Real Media, Inc. (Nasdaq: TFSM), a pioneer in interactive marketing and technology, today announced financial results for the third quarter ended September 30, 2005. Revenue for the third quarter of 2005 was $35.1 million, an increase of 69% over the $20.8 million reported for the third quarter of 2004, and rose 4% sequentially from the $33.9 million reported in the second quarter of 2005.
Pro forma operating income(1) for the third quarter of 2005 was $2.3 million, or $0.05 per share. This compares with pro forma operating income of $13,000, or $0.00 per share, for the third quarter of 2004.
Net loss in accordance with generally accepted accounting principles (GAAP) for the third quarter of 2005 was $0.8 million, or $0.02 per share, compared with net loss of $1.7 million, or $0.04 per share, for the third quarter of 2004.
24/7 Real Media performed very well in the third quarter, building on the success and momentum the company demonstrated throughout the first half of 2005, said David J. Moore, chairman and chief executive officer of 24/7 Real Media. Additionally, the company successfully executed upon its strategic priority for 2005, the formation of a significant partnership to address the rapidly-growing paid search sector in Japan.
As the largest, most prestigious advertising agency in Japan, Dentsu is the ideal partner to help us quickly become the leader in the Japanese market for search engine marketing services and capture a significant share of the sizable future revenue opportunities that exist there.
The following information was filed by 247 Real Media Inc on Thursday, November 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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