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(New York, NY - August 8, 2007) - Jupitermedia Corporation (Nasdaq:
JUPM) today reported results for the quarter ended June 30, 2007.
Highlights for the second quarter of 2007 include:
- Revenues for the second quarter of 2007 were $34.7 million
compared to revenues of $35.0 million for the same period last year.
Revenues from Online Images increased from $26.8 million to $27.4
million, while revenues from Online Media decreased from $8.2 million
to $7.3 million.
- Earnings per diluted share from continuing operations were
$0.02 and included non-cash stock-based compensation expense of $0.01
per diluted share.
"Despite a challenging period for the stock photo industry, our
Jupiterimages division had some bright spots in the second quarter and
for the first six months of 2007. Our Rights Managed category
experienced over 30% growth for the first six months of this year
compared to the same period of 2006. In addition, our
JupiterimagesUnlimited high level royalty-free subscription offering
grew over 200% for the first six months of 2007 compared to the same
period last year. On a sequential quarterly basis, operating income for
our Jupiterimages division increased from $8.6 million for the three
months ended March 31, 2007 to $9.2 million for the three months ended
June 30, 2007. Due to the evolution taking place in the stock photo
industry, we are currently focusing our direct sales team to further
emphasize our strengths: sales of Rights Managed images and
JupiterimagesUnlimited. We have also initiated a rigorous review of our
operating expenses that we expect will result in annual expense
reductions of $2.0Š$3.0 million on a prospective basis starting in the
third quarter of 2007. Additionally, we have also identified
opportunities to streamline various capital projects and content
production that we expect will result in a reduction of over $3.0
million in annual cash expenditures. Combined, this restructuring is
expected to improve our annual after-tax cash flows by approximately
$4.0 million and possibly more," stated Jupitermedia's Chairman and CEO
Alan M. Meckler.
"During the second quarter we continued to make investments to
reinvigorate our JupiterOnlineMedia division, including the launch of
our new Web Video Summit trade show, which was held in June. In
addition, we are very excited about our recently announced acquisition
of Mediabistro. Mediabistro, which has developed a loyal following of
media and creative professionals, provides our JupiterOnlineMedia
division with another diversified and growing revenue stream through
its vertical online job board. The Mediabistro job board should benefit
from the vast traffic generated from our Online Media and Jupiterimages
properties. Furthermore, Mediabistro has a wide variety of original
content and blogs which will augment our 150 original content sites,
and Mediabistro events mesh nicely with Jupitermedia's growing trade
show and Webcast operations," added Meckler.
Jupitermedia Corporation 2nd Quarter 2007 Financial Results Conference Call Alert
Jupitermedia Corporation invites you to participate in its
conference call reviewing 2007 second quarter results on Thursday,
August 9, 2007 at 11:00 am EST.
The conference call number is (800) 811-8845 for domestic participants
and (913) 981-4905 for international participants; confirmation code
"125 4048." Please call five minutes in advance to ensure that you are
connected prior to the presentation. The conference call replay will be
available until Thursday, August 23, 2007. Replay call numbers are
(888) 203-1112 for domestic participants and (719) 457-0820 for
international participants: confirmation code: "125 4048."
Credit Facility
In July 2007, Jupitermedia announced that it had closed a $115 million
senior credit facility arranged by KeyBanc Capital Markets.
Jupitermedia has initially borrowed $88 million under this credit
facility to repay indebtedness under a previous credit facility with
JPMorgan Securities and to fund the acquisition of Mediabistro.com Inc.
in July 2007.
Acquisitions
- In June 2007, Jupitermedia announced that it had acquired the assets of AdsOfTheWorld.com (www.adsoftheworld.com) and CreativeBits.org (www.creativebits.org).
Both Web sites provide user-generated content for the creative and
design communities and have a robust following with over 1.0 million
unique visitors combined. Terms of the transaction were not disclosed.
- In July 2007, Jupitermedia announced that it had acquired all of the shares of Mediabistro.com Inc. (www.mediabistro.com),
the career and community site for media and creative professionals, for
$20.0 million in cash and a two year earn-out that could result in an
additional $3.0 million in cash consideration. Funding for this
acquisition was secured through the recently announced closing of a
$115 million senior credit facility arranged by KeyBanc Capital
Markets.
New Online Images Offerings Jupitermedia continued to expand
and strengthen its world-class proprietary Jupiterimages offerings with
the addition of the following:
In May 2007, Jupitermedia announced the launch of AnimationFactory.com's Pro Edition (www.animationfactory.com),
a new subscription-based version that offers one of the world's most
comprehensive collections of 3D motion designs and Flash™ animations
and is the largest royalty-free resource for all types of animations
ranging from highly compressed 3D animations for Web and mobile to
studio quality high definition motion graphics. Subscriptions also
include high definition backgrounds, special video elements with alpha
channels for compositing in video or Flash™, Flash™ Web site templates,
and a library of sound effects and music loops.
New Online Media Offerings
Jupitermedia continued to expand and strengthen its world-class
proprietary content and advertising opportunities with the addition of
the following:
In June 2007, Jupitermedia announced the launch of Google Enterprise Search on its internet.com (www.internet.com) and EarthWeb.com (www.earthweb.com)
online networks. The Google Enterprise Search Appliance is an
integrated hardware and software product designed to give businesses
like Jupitermedia's content-rich media networks the
productivity-enhancing power of Google search and includes improved
relevance, access to more content and enhanced security options.
In June 2007, Jupitermedia held its new Web Video Summit trade show (www.webvideosummit.com)
on June 27-28, 2007 at the San Jose Marriott in San Jose, California.
The conference serves those who create and distribute video over the
Web.
In July 2007, Jupitermedia announced the debut of its Semantic Web Strategies conference and exhibition (www.semanticwebstrategies.com),
to be held at the San Jose Marriott from September 30 - October 2,
2007. The trade show focuses on how organizations can maximize the
value of their data on the next-generation Web.
About Jupitermedia Corporation
Jupitermedia Corporation (Nasdaq: JUPM), (www.jupitermedia.com),
headquartered in Darien, CT, is a leading global provider of images,
news and original information, career Web sites and events for
information technology, business, media and creative professionals.
Jupitermedia includes Jupiterimages, one of the leading images
companies in the world with over 7.0 million images online serving
creative professionals with brands like BananaStock, Workbook Stock,
Brand X Pictures, FoodPix, Botanica, Nonstock, The Beauty Archive, IFA
Bilderteam, Comstock Images, Creatas Images, PictureQuest, Liquid
Library, Thinkstock Images, Thinkstock Footage, Bigshot Media,
Goodshoot, Polka Dot Images, Stock Image, Pixland, Photos.com,
Ablestock.com, PhotoObjects.net, Clipart.com, JupiterGreetings.com,
AnimationFactory.com, RoyaltyFreeMusic.com, StudioCutz.com and
Stockxpert.com. The JupiterOnlineMedia division of Jupitermedia
consists of five distinct online networks: internet.com and
EarthWeb.com for IT and business professionals; DevX.com for
developers; and Mediabistro.com and Graphics.com for media and creative
professionals. These networks include more than 150 Web sites and over
150 e-mail newsletters that are viewed by over 20 million users and
generate over 400 million page views monthly. JupiterOnlineMedia also
includes specialized career Web sites for select professional
communities which can be found on Mediabistro.com and JustTechJobs.com.
In addition, JupiterOnlineMedia includes JupiterEventsÕ and
MediabistroÕs media-related events, which produce offline conferences
and trade shows focused on IT and business-specific topics including
ISPCON, Web Video Summit, Semantic Web Strategies and Digital Rights
Strategies.
"Safe Harbor" Statement under the Private Securities Litigation
Reform Act of 1995: Statements in this press release which are not
historical facts are "forward-looking statements" that are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements involve
risks and uncertainties that could cause actual results to differ
materially from those described in the forward-looking statements. The
potential risks and uncertainties address a variety of subjects
including, for example, the competitive environment in which
Jupitermedia competes; the unpredictability of Jupitermedia's future
revenues, expenses, cash flows and stock price; Jupitermedia's ability
to integrate acquired businesses, products and personnel into its
existing businesses; Jupitermedia's ability to protect its intellectual
property; and Jupitermedia's dependence on a limited number of
advertisers. For a more detailed discussion of such risks and
uncertainties, refer to Jupitermedia's reports filed with the
Securities and Exchange Commission pursuant to the Securities Exchange
Act of 1934. The forward-looking statements included herein are made as
of the date of this press release, and Jupitermedia assumes no
obligation to update the forward-looking statements after the date
hereof.
All current Jupitermedia Corporation press releases can be found on the World Wide Web at www.jupitermedia.com/corporate/press.html
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