Arkansas’ newest publicly-traded company, Inuvo Inc., nearly doubled its first quarter sales and significantly reduced a quarterly net loss as results improved from a year ago.
Conway-based Inuvo posted first quarter sales of $15.91 million, up from $8.76 million one year ago. The company’s net loss was $290,000 compared to a $1.87 million loss in the previous year’s comparable quarter.
Inuvo is an Internet marketing and technology company that develops consumer applications and delivers targeted advertisements onto websites. It moved its corporate headquarters from New York to Conway last year. Several former Acxiom executives are investors and managers of the firm.
“Revenue, margins, expenses, debt and income were all improved within the quarter and as a result, we are very pleased with the progress we have made so far this year,” stated Richard Howe, Chairman and CEO of Inuvo. “As we look ahead, we see growth opportunity across our segments but in particular, our expansion into mobile offers the most significant upside.”