INUV-very nice call jb:
"We had another solid and profitable quarter where sequentially, revenue increased 11%, operating expenses decreased 6%, net income grew by 68% and Adjusted EBITDA improved by 72%," stated Richard Howe, Chairman and Chief Executive Officer of Inuvo. "These business results build on the momentum started at the beginning of the year and allow us the flexibility to continue to innovate within the markets we serve."
Third Quarter 2013 Highlights
-- Net income of $640,000 or $0.03 per diluted share, compared to a net loss
of $1.3 million or $0.06 loss per share in the third quarter of 2012.
-- Operating expense of $5.7 million, compared to $9.9 million in the third
quarter of 2012.
-- Adjusted EBITDA, a non-GAAP measure, increased to $1.5 million compared
to $1.0 million in the third quarter of 2012.
-- Net revenue for the Partner Network segment was $10.8 million and gross
profit was $2.8 million, an increase of 67% and 229% from the third
quarter of 2012, respectively.
-- Net revenue for the Owned and Operated Network segment was $3.7 million
and gross profit was $3.5 million compared to $9.0 million net revenue
and $7.9 million gross profit in third quarter 2012.
-- Launch of the second ALOT branded website at www.health.alot.com.
Just To Be There Elizabeth Ellison
