24/7 Records Revenue Gain on Net Loss

NEW YORK 24/7 Real Media yesterday reported a 15 percent revenue rise on a net loss of $5.9 million in the fourth quarter versus the year-ago period.

The online advertising and technology company recorded Q4 revenue of $13.2 million, up from $11.5 million in the same period last year. EBITDA (earnings before interest, taxes, depreciation and amortization) for the quarter was $200,000.

Fourth-quarter net loss was $5.9 million, or 5 cents per share, compared to a net loss of $3.2 million, or 5 cents per share, in Q4 2002.

For full-year 2003, revenue grew 15.6 percent to $49.2 million from $42.6 million in 2002. Net loss for the year totaled $14.4 million, or 17 cents per share, an improvement over a net loss of $24.3 million, or 46 cents per share, the year before.

Last year’s numbers were negatively impacted by amortization from the acquisition of Insight First in January 2003, restructuring charges, the impairment of intangible assets related to the 24/7 Messenger product acquired with Now Marketing in September 2002 and preferred stock conversion discounts.

The New York-based company said it expects Q1 revenue of $15.5-$16.5 million, and full-year 2004 revenue of $79-84 million.

24/7 Real Media shares (TFSMD) were trading on the Nasdaq SmallCap Market today at $9.37, down 83 cents or 8 percent. The stock price reflects a one-for-five reverse stock split that took place today.