Inuvo Posts Loss Despite Strong Revenue Growth
by March 14, 2013 7:26 am 70 views
Arkansas’ newest publicly traded company, Conway-based Inuvo, had a pretty heady fourth quarter and full year in robust revenue, but it didn’t translate into profit.
Inuvo, a consumer app and Internet advertising firm that located to Conway from New York in January, reported its fourth quarter and full year 2012 results on Wednesday.
The company showed fourth quarter revenue of $16.24 million, which resulted in an $864,000 net loss. That was an improvement from just $6.6 million one year ago when the company lost $4.38 million.
For the full year, Inuvo reported $53.36 million in revenue, posting a $7 million loss in 2012. In 2011, the firm reported $35.82 million in revenue with an $8.97 million full year loss.
“The company had a strong fourth quarter and fiscal year in 2012,” said CEO Richard Howe. “Not only did revenue and Adjusted EBITDA increased sequentially and year over year, but the business itself grew 26% organically between Q2 and Q4 following the Vertro acquisition in Q1. We expect these positive trends to continue into 2013, and we anticipate Q1 2013 revenue to range between $16.2 and $16.5 million.”