Posted 5/10/2013 11:05 am
Updated 11 months ago
Inuvo Inc. of Conway on Thursday narrowed its first-quarter loss to $290,000, less than the $1.9 million loss it reported in the same quarter last year.
The company, which was founded by former Acxiom Corp. executives and moved its headquarters to Conway in January, said loss per share was 1 cent, an improvement from a loss of 13 cents during the same quarter last year.
First-quarter revenue rose 82 percent to $15.9 million.
"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," Richard Howe, chairman and CEO, said in a news release. "As we look ahead, we see growth opportunity across our segments but in particular, our expansion into mobile offers the most significant upside."
Inuvo is an Internet marketing and search company that develops consumer web applications that deliver targeted online advertising. Among its products is the Alot browser toolbar, which generates revenue through third-party search and content agreements.
The company purchased the Alot toolbar through its 2012 acquisition of Vertro Inc. of New York City. Proceeds from the purchase have boosted Inuvo's results.