24/7 Real Media, Inc. announced its first quarter profits yesterday with a revenue increase of $42.9 million and an increase of 48 percent over the comparable period in 2005. The company also demonstrated a pro forma operating income of $0.07 per share compared with $0.03 per share in the first quarter of 2005, and a GAAP net loss of $0.16 per share verses $0.01 per share at the same time last year mostly due to stock based compensation expenses.
David J. Moore, Chairman and Chief Executive Officer of 24/7 Real Media, said in a press statement, “The Company enjoyed an outstanding first quarter, substantially growing revenues and improving operating performance during what is traditionally a seasonally weak period. We continue to provide marketers with the ability to approach digital advertising as a precisely measurable science. Our recently announced release of Open AdStream(R) 6 exemplifies the innovation powering our leading solutions for publishers and advertisers. We will continue to leverage our expertise in technology and results-oriented services to drive significant growth in revenue and profitability through 2006 and beyond.”
24/7 Real Media’s growth reflects the overall rapid increase of revenue in the Media Solutions, Search Solutions, and Technology Solutions sectors during the first quarter of 2006.