FOR IMMEDIATE RELEASE
Media Contact
Lisa Cohen
(310) 751-0200 x311
lisac@L90.com
Investor Relations Contact
Tom Sebastian
(415) 354-2813
toms@L90.com
-- Company Adds 240 New Marketing Clients And 64 New Publishing Clients During The Quarter --
Los Angeles, CA - July 26, 2001 - L90, Inc. (Nasdaq: LNTY), the premier marketing, technology, and media company, today announced its financial results for the second quarter of 2001. The Company produced system revenue of $12.7 million in the second quarter, which represents a 20.6 percent increase over the first quarter of 2001. The Company`s GAAP revenue was $9.0 million for the second quarter. L90 also generated $5.4 million of gross profit in the second quarter which reflects a gross margin of 60.4 percent of GAAP revenue or 42.8 percent of system revenue.
"Despite the challenging economic climate, L90 continued to execute on our business plan in the second quarter," said John Bohan, CEO and President of L90. "Our 21 percent growth was an accomplishment in an environment where many companies experienced negative growth."
During the second quarter, L90 added 240 new marketing clients to its portfolio, including large traditional companies such as Fischer Price and Schering-Plough. L90 also added 64 new publishing clients to the L90 Network during the quarter, including brand names such as The Golf Channel and WomensForum. L90 has a very diversified customer base with approximately 1,750 marketing clients and 600 publishing clients, none of which accounted for more than 5% of the Company`s revenue during the second quarter of 2001.
The adMonitor for Publishers division also had a strong quarter, doubling the number of publishing clients that use L90`s ad serving technology on an outsourced basis. The ad serving volume of this division nearly tripled during the quarter to 2.4 billion impressions per month. "L90 continues to expand our customer base because of our differentiated marketing technology and media solutions," said Bohan. "We are very well positioned to take advantage of the further expansion and evolution of this market and to continue to expand our market share."
The Company will be hosting a conference call and live webcast on Thursday, July 26, 2001 at 5:00 p.m. EST to further discuss the second quarter 2001 financial results. Investors who would like to listen to the conference call may dial 1-888-868-9080 (domestic) or 973-628-6885 (international). A replay of the conference call will be available at the following numbers: 888-394-8168 (domestic) and 402-220-5652 (international). Investors who are interested in accessing the live webcast are invited to visit www.L90.com. The webcast will also be made available as a replay via the investor relations section of the L90 Web site.
adMonitor The Technology for Business Success
adMonitor is L90`s proprietary, centralized ad-serving and tracking technology. adMonitor was developed to power L90`s next-generation ProfiTools, which help marketers and Web publishers build deeper and more powerful relationships with opt-in consumers by delivering targeted offers and promotions. ProfiTools include sponsorships, rich media and direct marketing components as well as traditional banner advertisements. Features include advanced targeting and tracking, real-time inventory management, comprehensive financials and revenue forecasting. Direct marketing capabilities include serving and tracking of opt-in newsletter sponsorships, viral marketing programs, direct e-mail marketing, user registration and opt-in consumer profiling. adMonitor has served over 1,750 marketing clients, currently serves nearly 7 billion impressions a month, and reaches over 41% of the Internet audience.
About L90
L90 is a marketing, technology, and media company that works with marketers and Web publishers to build valuable relationships with customers on the Internet. L90 currently has exclusive advertising sales representation agreements with approximately 600 Web sites reaching over 41% of the Internet audience. L90`s network is broken up into 13 targeted channels including Automotive, Entertainment, Travel, and Women, to offer advertisers targeted platforms to reach specific audiences. Each channel is anchored by branded Web sites such as Aerosmith.com, PBS online, and StarWars.com which anchor the L90|Entertainment channel. L90`s suite of digital marketing tools, called ProfiTools, are grouped into five categories: branding, customer acquisition, traffic, sales, and retention. The tools include sponsorships, microsites, content integration, rich media, sweepstakes, viral marketing, opt-in e-mail, newsletters, and many more innovative marketing tools. The Company`s ProfiTools solution integrates adMonitor, L90`s proprietary serving, tracking and marketing technology with a global sales and service team. L90 currently works with over 1,750 marketers worldwide, including Visa, Microsoft, General Motors, Warner Bros. and Procter & Gamble. Headquartered in Los Angeles, L90 has additional offices in New York, San Francisco, Chicago, Miami, Seattle and London.
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Statements included within this press release, which are not historical in nature, constitute forward-looking statements for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Such statements involve risk and uncertainties that could cause actual results to differ materially from those described herein. Careful consideration should be given to cautionary statements made in L90 documents and reports filed with the Securities and Exchange Commission.
Please send an e-mail to lisac@L90.com for Balance Sheets.
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