L90 REPORTS 21% SEQUENTIAL INCREASE IN SYSTEM REVENUE
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.
# # #
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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