Adtegrity third-quarter results up over 2007

November 21, 2008
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Adtegrity.com this month reported third-quarter net revenues of $3.48 million, compared to $3.1 million for the third quarter of 2007.

Third-quarter results were in the black by $87,000, compared to a slight loss in the same period last year, the company said in its report to the Securities and Exchange Commission.

The Grand Rapids Internet advertising company, publicly traded on the Pink Sheets, said year-to-date net revenue was $12.38 million, with net income at $222,000.

“While we expected some seasonal softness for the third quarter, deterioration in the overall economic climate impacted our revenues, as well,” President & CEO Scott Brew said in a statement. “We’ve added staff and made infrastructure investments to correctly position ourselves in the market. Despite the challenging environment, our goal remains to grow our market share over the course of the next year.”

The company, which provides an Internet advertising network and services, ranks among the top 10 online advertising networks. It served more than 23 billion ad impressions during the third quarter.

For 2007, Adtegrity’s net income was $50,358 on net revenues of $11.6 million.

Last month, the company announced that it plans to move its 26-member staff from Cascade Township to downtown Grand Rapids in 2010. It will locate in Thirty-Eight, new construction planned for Commerce Avenue SW.

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