Adtegrity.com Reports 2010 Results
GRAND RAPIDS, Mich., March 14, 2011 /PRNewswire/ -- Adtegrity.com (Pink Sheets: ADTY), a Grand Rapids, Mich.-based company specializing in Internet advertising networks and services, today reported its results for the fourth quarter and full year ended December 31, 2010.
Adtegrity's audited full-year results included a net loss of $42,810 on net revenues of $11.06 million, compared with net income of $139,415 on net revenues of $11.38 million in 2009. The Company noted that its bottom-line results were impacted by a fourth-quarter write-down of $407,000 in non-performing assets, primarily related to real estate. Adtegrity was profitable on an operating basis, posting an audited pretax operating profit of $330,000 for the year.
"While 2010 was comparatively flat, we are seeing continued activity in the markets we serve and are optimistic about 2011," said Adtegrity President and CEO Scott Brew. "The one-time charge in the fourth quarter cleans up our balance sheet and helps ensure we are well positioned for the year ahead."
Adtegrity reported serving more than nine billion ad impressions in the fourth quarter of 2010, resulting in tens of millions of clicks for Adtegrity.com advertisers.
Adtegrity.com's primary business is the delivery of interactive advertising and marketing services. Since its founding in 1999, the Company has established itself as a results-driven, customer-focused firm providing consistent quality to the top advertising brands online. Adtegrity currently delivers billions of advertisements across thousands of top-tier websites each month. For more information, visit www.adtegrity.com.
Forward-Looking Statements: This news release may include certain forward-looking statements including, but not limited to, projections of revenue, income or loss and capital expenditures, statements regarding future operations, financing needs, plans relating to products or services of the Company, assessments of materiality, predictions of future events and the effects of pending and possible litigation, as well as assumptions relating to the foregoing. In addition, when used in this discussion, the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "should," and variations thereof and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors, including but not limited to the Company's ability to manage rapid growth as a result of internal expansion and strategic acquisitions, the impact of competitive products and pricing, product demand and market acceptance, new product development, reliance on key strategic alliances, the regulatory environment, fluctuations in operating results and other risks.