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24/7 REAL MEDIA, INC.
FOR IMMEDIATE RELEASE
24/7 REAL MEDIA DELIVERS RECORD SECOND QUARTER 2006 RESULTS
Companys Results Exceed Guidance
Raises Projections for Full Year 2006 and Introduces Full Year 2007 Outlook
Second Quarter Highlights:
· Revenue increased 42% year-over-year to $48.2 million.
· Pro forma operating income of $0.09 per share compared with $0.05 per share in Q2 of 2005; GAAP net income of $0.01 per share, versus a GAAP net loss of $0.00 per share in Q2 of 2005.
· Japan joint venture turns operating profit ahead of schedule.
· Continued solid international growth.
· Launch of Decide DNA 6, the industrys premier global search engine marketing platform.
NEW YORK August 2, 2006 24/7 Real Media, Inc. (Nasdaq: TFSM), a leading global digital marketing company, today announced financial results for the second quarter ended June 30, 2006. Revenue for the second quarter of 2006 was $48.2 million, an organic increase of 42% over the $33.9 million reported for the second quarter of 2005. Revenue contribution from international operations grew to 60% for the quarter on strong financial growth across Europe and the Pacific Rim region.
Pro forma operating income(1) for the second quarter of 2006 was $4.8 million, or $0.09 per share, the highest quarter ever for the Company. This compares with pro forma operating income of $2.3 million, or $0.05 per share, for the second quarter of 2005.
Under generally accepted accounting principles (GAAP), net income for the second quarter of 2006 was $0.5 million, or $0.01 per share. This compared to a GAAP net loss of $0.2 million, or $0.00 per share, for the second quarter of 2005. Due to the differing treatment of certain expenses in 2006 under the recent adoption of Statement of Financial Accounting Standards (SFAS) No. 123(R), Stock Based Compensation, results between these periods are not directly comparable. The comparable GAAP figure for the second quarter of 2005, adjusted for SFAS No. 123(R), would have amounted to a net loss of $1.6 million, or $0.04 per share.
24/7 Real Media realized outstanding operational and financial results during the second quarter of 2006, continuing on the success and momentum the company achieved in the first quarter and in fiscal 2005, said David J. Moore, chairman and chief executive officer of 24/7 Real Media.
Our leading global footprint continues to be an important market differentiator, with both our European and Asia-Pacific operations posting strong performances. In particular, our partnership with Dentsu, K.K. 24-7 Search, continues perform exceptionally well and has produced an operating profit ahead of schedule.
All our businesses are performing very well in every geographic location. Looking ahead, we are well positioned to continue capitalizing on the positive trends in the market, including increased spending online, the rapid growth of paid search and globalization.
The following information was filed by 247 Real Media Inc on Thursday, August 3, 2006 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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