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Flycast Posts $6.4M Loss on Higher Revenues

Ad network Flycast Communications Corp. reported second-quarter loss $6.4 million, or 54 cents per diluted share, compared to a pro-forma loss of $1.9 million, or 27 cents a diluted share, a year ago.

Revenues for the second quarter were $6.4 million, up from revenues of $1.2 million for the second quarter of 1998 and an increase of 38% over first quarter 1999 revenues of $4.7 million.

George Garrick, chairman, chief executive officer and president of San Francisco-based Flycast said the company's growth is a direct result of increasing demand by online advertisers for our approach to the market, and highly cost-effective products and services that deliver ROI solutions that meet their needs.

Building on these offerings, during the quarter, we announced the introduction of MediaNet and AdLab, extended our BellSouth relationship into Latin America and introduced the Flycast Digital DM division."

The company says its flagship offering, the Flycast Network, reaches more than 25 million people a month, or 41 percent of the Web audience in the United States.