NetGravity Posts 1Q Loss of $3.75 Million
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San Mateo, CA-based NetGravity Inc. reported a net loss for the first quarter ending March 31 of $3.75 million, or $0.28 per share, compared to a net loss of $2.8 million or $0.93 per share for the first quarter of 1998.
The company reported revenues of $4.57 million for the first quarter, up from revenues of $2.0 million reported for the first quarter of 1998.
During the first quarter of 1999 the company completed a secondary public offering of 4,080,000 shares of its common stock for net proceeds of approximately $120.4 million, after deducting underwriting discounts, commissions and other expenses.
"We have had another strong quarter across the board in each of our target market segments--Web publishers, advertising agencies and e-commerce sites--while we have continued our planned investments in new products and services," said John Danner, chairman and chief executive officer of NetGravity. "We are extremely pleased with the high level of activity this early in the year and remain focused on our mission of providing leading online advertising and direct marketing management solutions."