An Internet Marketing Shop, L90 Is Still Going Strong
In the Oct. 30 issue, David Gianatasio wrote a story about Internet agencies titled "Internet Marketing Agencies Continue to Slide." He highlighted slumping Internet shops that had "cut staff, closed offices, seen their stock tank and released dismal financial numbers." My online marketing and technology company, L90, was mistakenly included in this story.
L90's Q3 numbers were anything but disappointing, as CIBC World Markets, Banc of America and SG Cowen all rated L90 a "strong buy" following our third-quarter conference call.
Owing to L90's technology-driven and 100 percent opt-in ProfiTools, our business continues to excel rapidly as we lead the way in "next generation" marketing. Our system revenue increased 350 percent over Q3 1999, and our Q3 EPS was approximately ($0.22), which is 3 cents better than consensus expectations. We are one of the few (if only) e-marketing companies that raised our projections for 2001.
At a time when industry growth from 2000 to 2001 has scaled back from 35 to 25 percent, L90 has increased its growth projection to the 60-75 percent range. In addition, we have $90 million in the bank, and profitability is coming much sooner than analysts had anticipated.
Things are far from dismal at L90, as we continue to expand with new offices in Seattle, Miami and London. We're also up to 200 employees and are continuing to hire at a rapid pace. While there is plenty of press lately on struggling dot-coms, there are also successful stories such as L90 that will eventually lead the future of this industry.
L90, Santa Monica, Calif.
Alastair Crompton: Out Of Print But Not Out of Mind
In his article, "By the Book," Steve Ulin advises advertising "hopefuls" to do their homework and pick up The Craft of Copywriting by Alastair Crompton. Yet a quick glance at Amazon.com and Barnesandnoble.com reveals that this wonderful tome is out of print. It appears that us "hopefuls" aren't the only ones who need to do their homework.
Assistant account executive
Ogilvy & Mather
For the Record: The photo credit for Batman [Creative Briefs, Nov. 13] is Archive Photos/Newscom.