Inuvo Inc. of Conway on Wednesday reported net income of $626,000 in the first quarter of the year.
The company (NYSE: INUV) reported that net earnings were down $49,000 compared to $675,000 last year, but noted identical per-share earnings of 3 cents per diluted share.
Inuvo also reported revenue of $13.4 million in the first quarter compared to $10.1 million last year.
“The first quarter of 2015 represents the second consecutive quarter of greater than 30 percent year-over-year growth and the fifth consecutive quarter of positive net income,” Inuvo Chairman and CEO Richard Howe said in a statement. “For the remainder of the year we plan to execute our strategy of expanding our digital publishing footprint as the means for commercializing Native Ad-Tech for Partners across desktop, tablet and mobile. We are off to a good start in the second quarter. We expect revenue for April to be about 30 percent ahead of last year.”
For the first quarter of the year, the Internet marketing and technology company also reported revenues in its Partner Network, which facilitates transactions between advertisers and partner websites and applications, were up 39 percent, to $7.6 million, compared to the same quarter last year.
The Owned and Operated Network, which builds mobile-ready websites and apps, also saw revenue gains of 25 percent to $5.8 million.
Inuvo announced earlier this month that it plans to move to the Museum Building in downtown Little Rock. Howe noted in the company’s earnings call that he still planned to move to the new location by October.
Sign up for Daily E-news
