More NewsK2 Design Posts Net Income of $266,000 for 3Q

K2 Design Posts Net Income of $266,000 for 3Q

Interactive agency K2 Design Inc. posted net income for thethird quarter of $266,000, compared to a loss for the same period last yearof $339,000.

Interactive agency K2 Design Inc. posted net income for the third quarter of $266,000, compared to a loss for the same period last year of $339,000.

Net revenue for the third quarter ending Sept. 30 was $1.24 million, compared to $962,000 for the same period last year. (Net revenue represents gross revenue minus media cost of sales and reimbursable expense pass-through billings).

Gross revenue was $1.7 million, compared to $1.9 million a year earlier. Earnings per share were $0.08 and $0.07 per basic and diluted share respectively for the third quarter 1999, as compared to a loss of $0.10 per basic and diluted share for the same period last year.

“The results reflect our evolving profile from an online advertising agency to a technology-focused professional services firm,” said Matthew de Ganon, executive chairman of K2 Design.”

“Using our W3 Organizational Modeling, we are providing fee-based strategic and process consulting, as well as technical development, design and marketing of ROI-driven e-communications initiatives.”

“The changing service mix resulted in fewer media placements in traditional venues, such as newspaper and radio, as the gross revenue demonstrates, and stronger fee-based consulting, which resulted in higher net revenue.”

The company said it also chose to repurchase 90,000 shares of its stock during the quarter as part of a stock buyback program “that mirrors the company’s confidence and drive on behalf of its stockholders.”

Related Articles

GDPR: The role of technology in data compliance

Data & Analytics GDPR: The role of technology in data compliance

3w Clark Boyd
What companies can learn from the We-Vibe lawsuit about the Internet of Things

Legal & Regulatory What companies can learn from the We-Vibe lawsuit about the Internet of Things

8m Al Roberts
Has advertising arrived on Google Home?

Media Has advertising arrived on Google Home?

8m Al Roberts
Is Twitter slowly dying?

More News Is Twitter slowly dying?

9m Al Roberts
FedEx launches fulfillment service to take on Amazon

Ecommerce FedEx launches fulfillment service to take on Amazon

9m Al Roberts
Target is the top retail digital marketer, so why is it struggling?

Ecommerce Target is the top retail digital marketer, so why is it struggling?

8m Al Roberts
YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

More News YouTube is "on pace to eclipse TV" thanks to savvy algorithm use

9m Al Roberts
YouTube is getting rid of 30-second unskippable pre-roll ads

Ad Industry Metrics YouTube is getting rid of 30-second unskippable pre-roll ads

9m Al Roberts