Asset Writedown Brings Loss To Adtegrity.com
Adtegrity.com (Pink Sheets: ADTY), a Grand Rapids-based company specializing in Internet advertising networks and services, today reported its results for the fourth quarter and full year ended Dec. 31.
Adtegrity's audited full-year results included a net loss of $42,810 on net revenues of $11.06 million, compared with net income of $139,415 on net revenues of $11.38 million in 2009.
The company said its bottom line was hurt by a fourth-quarter write-down of $407,000 in non-performing assets, primarily related to real estate.
Adtegrity was profitable on an operating basis, posting an audited pretax operating profit of $330,000 for the year.
"While 2010 was comparatively flat, we are seeing continued activity in the markets we serve and are optimistic about 2011," said Adtegrity president and CEO Scott Brew. "The one-time charge in the fourth quarter cleans up our balance sheet and helps ensure we are well positioned for the year ahead."
Adtegrity reported serving more than nine billion ad impressions in the fourth quarter of 2010, resulting in tens of millions of clicks for Adtegrity.com advertisers.
Adtegrity.com's primary business is the delivery of interactive advertising and marketing services. Since its founding in 1999, the company has established itself as a results-driven, customer-focused firm providing consistent quality to the top advertising brands online. Adtegrity currently delivers billions of advertisements across thousands of top-tier websites each month.
For more information, visit www.adtegrity.com.
