GRAND RAPIDS, Mich., Aug. 19, 2015 /PRNewswire/ -- Adtegrity (Pink Sheets: ADTY), a Grand Rapids, Mich.-based company specializing in Internet advertising networks and services, today reported its results for the second quarter ended June 30, 2015.
The Company's unaudited results included a net loss of $281,078 for the second quarter on revenues of $2.6 million, compared with net income of $90,380 on revenues of $4.2 million for the same quarter last year.
"It was a difficult period – we are disappointed recent investments in sales and marketing have not had the desired impact on our top line. We have made a number of changes to address the issue," said Adtegrity President and CEO Scott Brew. "In August, the company implemented a staff restructuring program and executed a variety of other cost-cutting measures intended to bring operating expenses more in line with near-term revenue projections. We think the company is now sized for success and we look forward to a return to profitability by the end of the year."
Adtegrity reported serving more than 9.2 billion ad impressions during the first quarter, resulting in 10.5 million clicks and 489,511 conversions for Adtegrity advertisers.
Adtegrity'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.