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
There was no word on when the company might reach profitability. NetGravity
is a provider of online advertising and direct marketing solutions to manage,
and analyze online campaigns.