Blog Post Net Income Rises

(Conference call at 11 AM EST today…interesting to listen to, in light of Thom Calandra’s resignation last week)’s Q4 2003 income nearly tripled with a 40 percent rise in ad revenues. It earned $2.5 million, up from $854,000 a year ago. Revenues climbed 14 percent to $13.4 million from $11.7 million a year ago.

The company reported its first annual profit, earning $2.7 million for the year after losing $9.7 million in 2002.

Ad revenues, comprising both online and broadcast advertising, rose 40 percent to $7.6 million, buoyed by the technology, financial services and travel sectors.

Licensing revenue stood at $5.1 million vs. $5.2 million, while subscription revenue more than doubled to $671,000. The company said it had $48.1 million in cash and cash equivalents, up $4.8 million from a year ago.