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NetGravity Cuts Loss on Higher Revenues

NetGravity Inc. posted a second quarter net loss of $2.1 million, or $0.12 per share, compared with a net loss of $3.0 million, or $0.59 per share for the second quarter of 1998.

The company reported record revenues of $5.6 million for the second quarter, up from revenues of $2.3 million for the same period a year earlier. "We are very pleased with our record second quarter performance and are proud of our continued ability to deliver strong business growth and product leadership," said Eric W. Spivey, president and chief executive officer of NetGravity. The company will be merged into New York City-based DoubleClick Inc. in the fourth quarter.

NetGravity delivers a range of software and service solutions to manage, target and analyze online campaigns. The company's worldwide customer base numbers more than 400.