RealTime IT News

24/7 Exec Sees Profitability by 2001

C. Andrew Johns, chief financial officer of 24/7 Media Inc., told financial news network CNBC he expects the company to become profitable in late 2001 or early 2002, based on the company's current business mix.

24/7 operates a large, global ad network and lately has branched out into direct marketing.

"It's clear that we're not making money today. . .we are investing right now for future growth," Johns told CNBC.

Last month, 24/7 Media reported that revenue increased ninefold from the year-ago period. Its stock closed yesterday at 33 1/2.