Business Services Industry
Seattle Online Marketing Agency Reports First Quarterly Profit.
Knight Ridder/Tribune Business News, February, 2003
By Monica Soto, The Seattle Times Knight Ridder/Tribune Business News
Feb. 5--Avenue A, the Seattle company that provides online marketing and technology services, yesterday reached a milestone still rare for an Internet company: its first quarterly profit.
Crediting the performance to clients' increased spending on advertising and to several high-profile marketing campaigns, the company reported a fourth-quarter net profit of $1.7 million, or 3 cents a share, compared with a net loss of $4.5 million, or 8 cents a share, a year ago. Sales soared 82 percent to $44.3 million.
Avenue A's shares climbed 11 percent yesterday to close at $3.34. The results were announced before the markets opened.
The company said revenue growth was...
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