AdForce Loss Climbs on Higher Revenues
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Outsourced ad management and delivery company AdForce Inc. posted a net loss for the third quarter ending Sept. 30 of $6.46 million, compared to a loss of $3.96 million a year earlier, on higher revenues.
Revenues were a record $5.1 million for the third quarter of 1999, up from $1.06 million in the same period a year ago.
The net loss from the third quarter was $0.34 per share, and compares to a net loss of $1.30 per share for the same quarter last year.
During the third quarter, AdForce said it added over 45 domestic and international customers, including Uproar, Medscape, 24/7 Media Asia, Carat Freeman/AOL outbound, Virtual Billboard Network, emaildirect, Inc., Artist Direct, Football.com, iXL, Kids Net Connect, Brand Dialogue and Vickers Benson Direct and Interactive.
Although there was no word on when AdForce may attain profitability, David Andonian, president of corporate development for CMGI, said in a statement: "CMGI remains confident in the fundamental strength of AdForce's business and technology and looks forward to closing the pending acquisition of AdForce."