Jupitermedia Corporation Reports Record Results for Its Third Quarter Ended September 30, 2005.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Jupitermedia Jupitermedia, Inc. NASDAQ: JUPM, is a U.S.-based corporation, established in 1994, and headquartered in Darien, CT. The company is a global provider of original information, images and digital content for information technology, business and creative professionals. Corporation (Nasdaq: JUPM) today reported results for the quarter ended September September: see month. 30, 2005. Highlights for the third quarter include: --Operating income before depreciation and amortization grew 124% to $10.5 million --Overall gross margins improved to 67%, with gross margins for Online Images improving to 70% --Operating margins for Online Images, excluding depreciation and amortization, grew to 43% Revenues for the third quarter of 2005 were $34.4 million compared to revenues of $15.8 million for the same period last year, an increase of 118%. Net income for the third quarter was $60.4 million, or $1.62 per diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared to net income of $5.1 million, or $0.15 per diluted share, for the same period last year. Net income for the third quarter of 2005 included a gain of $29.1 million, net of income taxes, related to the sale of Jupitermedia's Search Engine Strategies events and ClickZ.com Network, as well as a $23.5 million benefit from the reversal reversal n. the decision of a court of appeal ruling that the judgment of a lower court was incorrect and is reversed. The result is that the lower court which tried the case is instructed to dismiss the original action, retry the case, or is ordered to change its of the valuation allowance related to deferred income tax assets. As a result of the sale of the Search Engine Strategies events, these financial results reflect Jupitermedia's Events segment as a discontinued operation discontinued operation A segment of a business that has been abandoned or sold or for which plans for one or another of these actions have been approved. See also continuing operations. in accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software, Inc.[] As well as a standalone program, it is the base software packaged by Zondervan in their Bible Study suites for Macintosh. with Statement of Financial Accounting Standards No. 144. Prior year financial results have been presented to reflect Jupitermedia's Events segment as a discontinued operation. "Our financial results for the third quarter included record revenues, operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. and net income," stated Jupitermedia's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Alan A`lan´ n. 1. A wolfhound. M. Meckler. "We have been emphasizing the development of our JupiterImages division and the third quarter illustrates continued organic and overall growth in the sales and distribution of commercial images. The acquisitions of PictureArts in July July: see month. and BananaStock in October October: see month. further solidifies JupiterImages' position as a leader in stock imagery imagery /im·age·ry/ (im´aj-re) 1. the formation of a mental representation of something perceived by the senses. 2. . We have made eight major images acquisitions since June June: see month. 2003: ArtToday, Comstock, Thinkstock, Hemera
meantime, meanwhile we continue to evolve Evolve may refer to several terms:
Jupitermedia Corporation 3rd Quarter 2005 Financial Results Conference Call Alert Jupitermedia Corporation invites you to participate in its conference call reviewing 2005 third quarter results, scheduled for Wednesday Wednesday: see week. , November November: see month. 2, 2005 at 11:00 am EST EST electroshock therapy. EST abbr. electroshock therapy . The conference call number is (800) 289-0518 for domestic participants and (913) 981-5532 for international participants; pass code "883 4011." Please call five minutes in advance to ensure that you are connected prior to the presentation. The conference call replay will be available until Tuesday Tuesday: see week. , November 15, 2005. Replay call numbers are (888) 203-1112 for domestic participants and (719) 457-0820 for international participants: pass code: "883 4011." Acquisitions In July, Jupitermedia acquired PictureArts Corporation (www.picturearts.com) for $63.2 million in cash, subject to certain post-closing adjustments. The acquisition includes PictureArts' quality brands: Brand X Pictures, FoodPix, Botanica bo·tan·i·ca n. A shop that sells herbs, charms, and other religious or spiritual items, especially those associated with Santeria. [American Spanish botánica, from Greek and Nonstock, as well as its image distribution business. In October, Jupitermedia acquired all of the shares of BananaStock Limited (www.bananastock.com) for approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. U.S. $19.0 million in cash, subject to certain post-closing adjustments. BananaStock, based in Oxfordshire Oxfordshire or Oxon, county (1991 pop. 553,800), 749 sq mi (1,940 sq km), S central England. The county seat is Oxford. The terrain is generally flat except for a branch of the Chiltern Hills in the southeast. , United Kingdom, is a leading resource for royalty Compensation for the use of property, usually copyrighted works, patented inventions, or natural resources, expressed as a percentage of receipts from using the property or as a payment for each unit produced. free digital images for business users and creative professionals. Online Image Offerings In July, Jupitermedia announced an agreement with Corbis (www.corbis.com), a leading media services company, to distribute its Comstock Images and Thinkstock Images collections. Under the terms of the agreement, Corbis started distributing select Comstock and Thinkstock images worldwide through its Web site www.corbis.com in September. In August, Jupitermedia announced the launch of JupiterImages Unlimited (www.jiunlimited.com), the first subscription service that allows unlimited access, at multiple resolutions, to over 330,000 of JupiterImages' highest quality wholly owned stock photos. JupiterImages' brands included in this new offering are Brand X, Comstock Images, Creatas Images, Goodshoot, IT Stock Free, Thinkstock Images, Photos.com, AbleStock.com and PhotoObjects.net. In August, Jupitermedia announced that Adobe adobe (ədō`bē): see rammed earth. adobe Handmade sun-dried bricks formed from a mixture of heavy clay and straw found in arid regions. (R) Stock Photos, a stock photography service that offers designers one-stop one-stop adj. Relating to or providing a comprehensive selection of goods or services at a single location: one-stop shopping; a one-stop health-care center. shopping for high-quality, royalty-free Royalty-free describes material (typically graphics such as stock photography and icons, but also sound such as music loop samples) that may be used for profit, without paying royalties. images for layout
Layout may refer to:
In October, Jupitermedia announced a new image collection entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: (re)view. An archive (1) A file that contains one or more compressed files. Most archive formats are also capable of storing folders in order to reconstruct the file/folder relationship when decompressed. See archive formats. of retro [Latin, Back; backward; behind.] A prefix used to designate a prior condition or time. , rights-managed imagery, (re)view will launch in December December: see month. 2005 with 4,000 select images at www.jupiterimages.com. In October, Jupitermedia announced an exclusive worldwide partnership with Photographic Youth Music Culture Archive (PYMCA), a rights-managed image company based in London London, city, Canada London, city (1991 pop. 303,165), SE Ont., Canada, on the Thames River. The site was chosen in 1792 by Governor Simcoe to be the capital of Upper Canada, but York was made capital instead. London was settled in 1826. , U.K. The PYMCA collection is scheduled to launch in early 2006 at www.jupiterimages.com. Online Media Offerings In September, Jupitermedia announced the launch of "Adobe(R) LiveCycle Developer Source" (www.devx.com/Adobe), to assist application development professionals in creating applications for Adobe LiveCycle Adobe LiveCycle Enterprise Suite (ES) is a suite of J2EE-based J2EE (Java 2 Enterprise Edition) server software products from Adobe Systems Incorporated. LiveCycle ES combines its PDF (Portable Document Format) technology and Flex (Flash-based UI technology) to develop "customer (TM), a key component of the Adobe Intelligent Document platform. Research Services In September, Jupitermedia announced the appointment of Oren Web Marketing to provide research sales and support in the Israeli market. Oren Web Marketing is headed by Haim Haim is the surname of:
Israel (ĭz`rēəl, ĭz`rāəl) [as understood by Hebrews,=he strives with God], according to the book of Genesis, name given to Jacob as eponymous ancestor of the Hebrews, the chosen people of God. . Conferences and Trade Shows In August, Jupitermedia announced that it closed the sale of its Search Engine Strategies trade shows and its ClickZ.com Network of Web sites for $43 million in cash, subject to certain post-closing adjustments. The purchaser is London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. listed media company Incisive incisive /in·ci·sive/ (-si´siv) 1. having the power or quality of cutting. 2. pertaining to the incisor teeth. in·ci·sive adj. 1. Having the power to cut. Media plc (INM INM Instituto Nacional de Migración (México) INM Integrated Noise Model (FAA) INM Institute of Naval Medicine (Royal Navy) INM Integrated Network Management .L). As a result of the sale of the Search Engine Strategies events, Jupitermedia's Events segment is now being presented as a discontinued operation in accordance with Statement of Financial Accounting Standards No. 144.
Jupitermedia Corporation
Consolidated Statements of Operations
For the Three and Nine Months Ended September 30, 2004 and 2005
(unaudited)
(in thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
------------------ -----------------
2004 2005 2004 2005
-------- -------- ------- --------
Revenues $ 15,779 $ 34,351 $43,815 $ 88,493
Cost of revenues 5,377 11,478 15,479 30,973
-------- -------- ------- --------
Gross profit 10,402 22,873 28,336 57,520
-------- -------- ------- --------
Operating expenses:
Advertising, promotion and
selling 3,031 7,035 9,529 17,603
General and administrative 2,668 5,320 7,263 13,160
Depreciation 129 656 594 1,366
Amortization 360 1,239 1,477 2,944
-------- -------- ------- --------
Total operating expenses 6,188 14,250 18,863 35,073
-------- -------- ------- --------
Operating income 4,214 8,623 9,473 22,447
Gain on sale of assets, net 5 13,265 124 13,224
Interest income 55 74 82 288
Interest expense (39) (677) (101) (965)
-------- -------- ------- --------
Income before income taxes,
minority interests and equity
income (loss) from investments,
net 4,235 21,285 9,578 34,994
Provision (benefit) for income
taxes 5 (22,153) 145 (20,541)
Minority interests (20) (18) (57) (49)
Equity income (loss) from
investments, net (108) - (117) 132
-------- -------- ------- --------
Income from continuing operations 4,102 43,420 9,259 55,618
Income from discontinued
operations, net of taxes 957 1,104 946 1,488
Gain on sale of discontinued
operations, net of taxes - 15,854 - 15,854
-------- -------- ------- --------
Net income $ 5,059 $ 60,378 $10,205 $ 72,960
======== ======== ======= ========
Earnings per share:
Basic:
Continuing operations $ 0.13 $ 1.25 $ 0.33 $ 1.64
Discontinued operations 0.03 0.49 0.03 0.51
-------- -------- ------- --------
$ 0.16 $ 1.74 $ 0.36 $ 2.15
======== ======== ======= ========
Diluted:
Continuing operations $ 0.12 $ 1.16 $ 0.30 $ 1.52
Discontinued operations 0.03 0.46 0.03 0.48
-------- -------- ------- --------
$ 0.15 $ 1.62 $ 0.33 $ 2.00
======== ======== ======= ========
Shares used in computing earnings
per share:
Basic 31,382 34,749 28,448 33,936
======== ======== ======= ========
Diluted 34,141 37,323 30,815 36,401
======== ======== ======= ========
Segment Information The following tables summarize sum·ma·rize intr. & tr.v. sum·ma·rized, sum·ma·riz·ing, sum·ma·riz·es To make a summary or make a summary of. sum the results of the segments of Jupitermedia for the three and nine months ended September 30, 2004 and 2005. Online images consists of the JupiterImages business that includes Brand X, FoodPix, Botanica, Nonstock, Comstock Images, Creatas Images, PictureQuest, Liquid Library, Thinkstock Images, Thinkstock Footage, Goodshoot, Photos.com, Ablestock.com, PhotoObjects.net, Clipart.com and Animations.com. Online media consists of the JupiterWeb business that includes the internet.com, EarthWeb.com, DevX.com and Graphics.com Networks. Research represents the JupiterResearch business. Other includes corporate overhead, depreciation, amortization and venture fund related activities.
(unaudited) Three Months Ended Nine Months Ended
(in thousands) September 30, September 30,
------------------- ------------------
2004 2005 2004 2005
------- ------- ------- --------
Revenues:
Online images $ 6,797 $24,011 $15,045 55,905
Online media 6,692 7,775 21,913 24,651
Research 2,279 2,557 6,822 7,913
Other 11 8 35 24
------- ------- ------- --------
15,779 34,351 43,815 88,493
------- ------- ------- --------
Cost of revenues:
Online images 1,250 7,277 3,028 17,397
Online media 2,781 2,917 8,551 9,443
Research 1,346 1,284 3,900 4,133
------- ------- ------- --------
5,377 11,478 15,479 30,973
------- ------- ------- --------
Gross profit:
Online images 5,547 16,734 12,017 38,508
Online media 3,911 4,858 13,362 15,208
Research 933 1,273 2,922 3,780
Other 11 8 35 24
------- ------- ------- --------
10,402 22,873 28,336 57,520
------- ------- ------- --------
Advertising, promotion and
selling:
Online images 694 4,550 2,250 9,709
Online media 1,602 1,703 5,046 5,411
Research 735 782 2,233 2,483
------- ------- ------- --------
3,031 7,035 9,529 17,603
------- ------- ------- --------
General and administrative:
Online images 288 1,913 805 3,594
Online media (12) (149) 222 195
Research 104 173 478 580
Other 2,288 3,383 5,758 8,791
------- ------- ------- --------
2,668 5,320 7,263 13,160
------- ------- ------- --------
Depreciation 129 656 594 1,366
Amortization 360 1,239 1,477 2,944
Operating income:
Online images 4,565 10,271 8,962 25,205
Online media 2,321 3,304 8,094 9,602
Research 94 318 211 717
Other (2,766) (5,270) (7,794) (13,077)
------- ------- ------- --------
$ 4,214 $ 8,623 $ 9,473 $ 22,447
------- ------- ------- --------
Jupitermedia Corporation
Consolidated Balance Sheets
December 31, 2004 and September 30, 2005
(in thousands, except share and per share amounts)
December 31, September 30,
2004 2005
------------ -------------
(unaudited)
ASSETS
Current assets:
Cash and cash equivalents $ 30,179 $ 20,247
Accounts receivable, net of allowances
of $966 and $1,562, respectively 13,724 23,692
Unbilled accounts receivable 1,530 1,531
Prepaid expenses and other 2,633 4,216
Assets of discontinued operations 1,789 -
---------- ----------
Total current assets 49,855 49,686
Property and equipment, net of accumulated
depreciation of $9,256 and $10,780,
respectively 2,339 10,045
Intangible assets, net of accumulated
amortization of $5,371 and $8,309,
respectively 20,939 42,968
Goodwill 41,967 158,781
Deferred income taxes - 11,014
Investments and other assets 1,197 2,000
---------- ----------
Total assets $ 116,297 $ 274,494
========== ==========
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 2,060 $ 5,071
Accrued payroll and related expenses 1,666 3,115
Accrued expenses and other 4,642 13,352
Current portion of long-term debt - 10,000
Deferred revenues 12,023 15,568
Liabilities of discontinued operations 2,891 -
---------- ----------
Total current liabilities 23,282 47,106
---------- ----------
Long-term debt - 26,322
Deferred revenues 510 616
Deferred income tax liabilities 121 -
Other long-term liabilities 225 -
---------- ----------
Total liabilities 24,138 74,044
---------- ----------
Stockholders' equity:
Preferred stock, $0.01 par value,
million shares authorized, no shares
issued and outstanding - -
Common stock, $0.01 par value, shares 324 349
authorized, and 32,378,130 and
34,881,241 shares issued at December
31, 2004 and September 30, 2005,
respectively
Additional paid-in capital 215,648 251,532
Accumulated deficit (123,690) (50,730)
Treasury stock, 65,000 shares, at cost (106) (106)
Accumulated other comprehensive loss (17) (595)
---------- ----------
Total stockholders' equity 92,159 200,450
---------- ----------
Total liabilities and stockholders'
equity $ 116,297 $ 274,494
========== ==========
Jupitermedia Corporation
Consolidated Statements of Cash Flows
Nine Months Ended September 30, 2004 and 2005
(unaudited)
(in thousands)
Nine Months Ended
September 30,
--------------------
2004 2005
-------- ---------
Cash flows from operating activities:
Income from continuing operations $ 9,259 $ 55,618
Adjustments to reconcile income from continuing
operations to net cash provided by operating
activities:
Depreciation and amortization 2,071 4,310
Provision (benefit) for losses on accounts
receivable (388) (267)
Minority interests 57 49
Equity (income) loss from investments, net 117 (132)
Gain on sale of assets, net (124) (13,224)
Deferred income taxes - (24,084)
Cash flows from discontinued operations 1,075 631
Changes in current assets and liabilities (net
of businesses acquired):
Accounts receivable 2,116 (2,661)
Unbilled accounts receivable (173) (1)
Prepaid expenses and other 278 (1,105)
Accounts payable and accrued expenses (184) (1,524)
Deferred revenues 790 (587)
-------- ---------
Net cash provided by operating activities 14,894 17,023
-------- ---------
Cash flows from investing activities:
Additions to property and equipment (269) (2,316)
Acquisitions of businesses and other (27,233) (111,358)
Proceeds from sales of assets and other 191 42,940
Distribution from internet.com venture funds 148 -
-------- ---------
Net cash used in investing activities (27,163) (70,734)
-------- ---------
Cash flows from financing activities:
Proceeds from issuance of common stock, net 30,340 -
Borrowings under credit facilities 13,000 87,998
Debt issuance costs - (257)
Repayment of borrowings under credit facility (13,000) (51,677)
Proceeds from exercise of stock options 5,069 7,715
-------- ---------
Net cash provided by financing activities 35,409 43,779
-------- ---------
Net increase (decrease) in cash and cash
equivalents 23,140 (9,932)
Cash and cash equivalents, beginning of period 9,567 30,179
-------- ---------
Cash and cash equivalents, end of period $ 32,707 $ 20,247
======== =========
Supplemental disclosures of cash flow:
Cash paid for income taxes $ - $ 806
======== =========
Cash paid for interest $ 13 $ 245
======== =========
Non-cash investing activities:
Common stock issued for acquisitions $ 541 $ 21,611
======== =========
Business Outlook Jupitermedia's financial guidance is prepared in accordance with accounting principles generally accepted in the United States of America UNITED STATES OF AMERICA. The name of this country. The United States, now thirty-one in number, are Alabama, Arkansas, Connecticut, Delaware, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Mississippi, Missouri, New Hampshire, . Historical results below have been adjusted to conform to Verb 1. conform to - satisfy a condition or restriction; "Does this paper meet the requirements for the degree?" fit, meet coordinate - be co-ordinated; "These activities coordinate well" this presentation. The amounts below reflect the preliminary allocation The apportionment or designation of an item for a specific purpose or to a particular place. In the law of trusts, the allocation of cash dividends earned by a stock that makes up the principal of a trust for a beneficiary usually means that the dividends will be treated as of the purchase prices paid by Jupitermedia in connection with its recent acquisitions of Thinkstock Images, Megapixel One million pixels. Refers to the resolution of a digital imaging device (monitor, scanner, video camera, still camera, etc.). For example, a five-megapixel digital still camera might take a picture composed of 5,038,848 red-green-blue color dots (pixels). .net, Hemera Technologies Inc., Creatas, L.L.C., the parent company of Dynamic Graphics, Inc., GraphicDesignForum.com, JGuru.com, Goodshoot S.A.S, PictureArts Corporation and BananaStock Ltd., and are subject to change pending a final allocation of these amounts. The following forward looking-statements reflect Jupitermedia's expectations as of November 1, 2005. Due to potential changes in general economic conditions and the various other risk factors discussed below and in Jupitermedia's reports filed with the Securities and Exchange Commission from time to time, actual results may differ materially. Jupitermedia intends to continue its practice of not updating forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. until its next quarterly results announcement, other than in publicly available statements.
Future Expectations
(In millions except for Actual Actual Actual
earnings per diluted share) Q1 2005 Q2 2005 (A) Q3 2005 (A)
(A)
--------- ----------- ------------
Revenues $ 22.3 $ 31.9 $ 34.4
Cost of revenues, advertising,
promotion & selling, and
general & administrative
expenses $ 15.4 $ 22.6 $ 23.8
EBITDA (Earnings before
interest, taxes, depreciation
and amortization) $ 6.9 $ 9.3 $ 10.6
Depreciation and amortization $ 1.1 $ 1.3 $ 1.9
Gain on sale of assets, net
(B) $ - $ - $ 13.3
Interest expense, net $ - $ 0.1 $ 0.6
Provision (benefit) for income
taxes (C) $ 0.7 $ 0.9 $(22.2)
Equity income $ - $ 0.1 $ -
Income from continuing
operations $ 5.1 $ 7.1 $ 43.4
Income (loss) from
discontinued operations, net
of taxes (A) $ 0.4 $ (0.1) $ 1.1
Gain of sale of discontinued
operations, net of taxes (B) $ - $ - $ 15.9
Net income $ 5.5 $ 7.0 $ 60.4
Diluted share count 35.7 36.8 37.3
Earnings per diluted share:
Continuing operations $ 0.15 $ 0.19 $ 1.16
Discontinued operations $ 0.01 $ - $ 0.46
Net income $ 0.16 $ 0.19 $ 1.62
Q4 2005 Total 2005 Total 2006
------------- ------------- ------------
Revenues $35.5-36.5 $124.1-125.1 $163.0-165.0
Cost of revenues, advertising,
promotion & selling, and
general & administrative
expenses $23.3-24.3 $85.1-86.1 $109.0-111.0
EBITDA (Earnings before
interest, taxes, depreciation
and amortization) $12.2 $39.0 $53.0-55.0
Depreciation and amortization $2.3 $6.6 $10.0
Gain on sale of assets, net
(B) $- $13.3 $-
Interest expense, net $0.6 $1.3 $2.0
Provision (benefit) for income
taxes (C) $3.7 $(16.9) $16.5-17.5
Equity income $- $0.1 $-
Income from continuing
operations $5.6 $61.4 $24.0-26.0
Income (loss) from
discontinued operations, net
of taxes (A) $- $1.4 $-
Gain of sale of discontinued
operations, net of taxes (B) $- $15.9 $-
Net income $5.6 $78.2-79.2 $24.0-26.0
Diluted share count 37.4 36.8 37.6
Earnings per diluted share:
Continuing operations
$0.15 $1.66-1.68 $0.64-0.69
Discontinued operations $- $0.47 $-
Net income $0.15 $2.13-2.15 $0.64-0.69
Notes: (A) The results of our Events segment have been presented as part of discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. in accordance with Statement of Financial Accounting Standards No. 144. (B) The total gain related to the sale of our Search Engine Strategies Events and ClickZ.com Network was $29.1 million, net of income taxes. The gain related to the ClickZ.com portion of the sale was recorded as part of continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the . The gain related to the Search Engine Strategies Events portion of the sale was recorded net of income taxes and is included as part of our discontinued operations. (C) Jupitermedia recorded a benefit for income taxes of $23.5 million from the reversal of the valuation allowance related to deferred income tax assets consisting primarily of goodwill related to Jupitermedia's Online Media business, which had previously been expensed for book purposes. About Jupitermedia Corporation Jupitermedia Corporation (Nasdaq: JUPM) (www.jupitermedia.com), headquartered in Darien Darien, town, United States Darien (dâr`ēĕn'), residential town (1990 pop. 18,130), Fairfield co., SW Conn., on Long Island Sound; settled c.1641, inc. 1820. , CT, is a leading global provider of original information, images and research for information technology, business 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, Brand X, FoodPix, Botanica, Nonstock, Comstock Images, Creatas Images, PictureQuest, Liquid Library, Thinkstock Images, Thinkstock Footage, Goodshoot, Photos.com, Ablestock.com, PhotoObjects.net, Clipart.com and Animations.com; and JupiterWeb, the online media division of Jupitermedia which operates four distinct online networks: internet.com and EarthWeb.com for IT and business professionals; DevX.com for developers; and Graphics.com for creative professionals. JupiterWeb properties include more than 150 Web sites and over 150 e-mail newsletters that are viewed by over 18 million users and generate over 300 million page views monthly. Jupitermedia also includes: JupiterResearch, a leading international research advisory organization specializing in business and technology market research in 18 business areas and 14 vertical markets. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 dependence on a limited number of advertisers; and Jupitermedia's ability to protect its intellectual property. 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 here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . All current Jupitermedia Corporation press releases can be found on the World Wide Web at http://www.jupitermedia.com/corporate/press.html |
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