Jupitermedia Corporation Reports Results for Its Third Quarter Ended September 30, 2006.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 Corporation (Nasdaq: JUPM) today reported results for the quarter ended September 30, 2006. Highlights for the third quarter include: * Revenues for the third quarter of 2006 were $33.8 million compared to revenues of $31.8 million for the same period last year, an increase of 6%. * Earnings 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 from 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 were $0.03 and included stock-based compensation expense of $0.02. Beginning on January 1, 2006, Jupitermedia began expensing stock-based compensation. The results of the third quarter of 2006 include non-cash stock-based compensation expense of $1.2 million. Net income for the third quarter of 2006 was $1.0 million, or $0.03 per diluted share, compared to net income of $60.4 million, or $1.62 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 of the valuation allowance related to deferred income tax assets. "We have been emphasizing the development of our Jupiterimages division and have made significant investments in our image production, technology platforms and direct sales teams over the past several quarters. At the same time, we have made progress in integrating our many recent image acquisitions, as we reduced operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. this quarter." 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 M. Meckler. "Jupitermedia continues to grow as a powerful creator and distributor of a wide range of commercial images and digital content. In addition to the expansion of our image offerings, we increased our wholly-owned royalty-free music offerings during the quarter," added Meckler. Jupitermedia Corporation 3rd Quarter 2006 Financial Results Conference Call Alert Jupitermedia Corporation invites you to participate in its conference call reviewing 2006 third quarter results on Thursday, November 9, 2006 at 11:00 am EST EST electroshock therapy. EST abbr. electroshock therapy . The conference call number is (800) 895-1085 for domestic participants and (785) 424-1055 for international participants; confirmation code "594 6893." Please call five minutes in advance to ensure that you are connected prior to the presentation. The conference call replay will be available until Wednesday, November 22, 2006. Replay call numbers are (888) 203-1112 for domestic participants and (719) 457-0820 for international participants: pass code: "594 6893." Acquisitions In August 2006, Jupitermedia acquired the assets of RoyaltyFreeMusic.com (www.royaltyfreemusic.com). RoyaltyFreeMusic.com's library includes over 1,100 wholly-owned tracks of high quality royalty-free themes, underscores, voiceovers beats, loops and bumpers. Terms of this acquisition were not disclosed. In October 2006, Jupitermedia announced that its Jupiterimages division acquired all of the shares of Cover - Imagen y Publicaciones, S.L. (www.cover.es). With offices in Barcelona and Madrid, Cover Images is a leading Spanish agency focused on the distribution of local and international rights-managed images. Terms of this acquisition were not disclosed. In November 2006, Jupitermedia announced that its Jupiterimages division has signed a definitive written agreement to increase its ownership position from an initial 49.7% equity investment made in January 2006 to 90% in HAAP HAAP Hispanic AIDS Awareness Program HAAP Historical Abuse Appeal Panel HAAP Homebase/Advanced Assignment Program HAAP Hugus Alfalfa & Arab Pintos HAAP Hispanic Academic Achievement Program HAAP High Altitude Aeronautical Platform HAAP Hawthorne Army Ammunition Plant Media Ltd. Based in Budapest, Hungary, HAAP Media operates two stock photo related Web Sites: Stockxpert.com (www.stockxpert.com) and Stock.xchng (www.sxc.hu). Stockxpert.com is one of the world's fastest growing "micropayment An electronic commerce transaction of very low value. It may refer to charging just a few cents or even a fraction of a cent for a transaction such as an information lookup. It may also refer to aggregating several small-value purchases and charging a credit card at the end of the day or " stock image libraries. The transaction is expected to close during the fourth quarter of 2006. Financial terms of the pending transaction were not disclosed. Divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). and 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 March 2006, Jupitermedia announced that it sold its JupiterResearch division for $10.1 million in cash and the assumption of certain liabilities by the purchaser, subject to certain post-closing adjustments. The purchaser is JupiterResearch, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control a subsidiary of JupiterKagan, Inc., which is a portfolio company of MCG mcg microgram. mcg abbr. microgram mcg microgram. mcg Microgram, see there; the preferred written abbreviation is µg Capital Corporation (Nasdaq: MCGC MCGC MCG Capital Corporation MCGC Michigan Color Guard Circuit MCGC Malaysia Cocoa Growers Council ). As a result of this sale, Jupitermedia's Research segment is now being presented 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 with Statement of Financial Accounting Standards No. 144. New Online Images Offerings Jupitermedia continued to expand its international presence and strengthen its world-class image offerings with the addition of: In July 2006, Jupitermedia launched a powerful new search engine on its Jupiterimages Web site (www.jupiterimages.com). The new search engine was built with key input from Jupiterimages' customers and delivers the critical features they need, including the ability to find images with and without people and by gender, age and ethnicity ethnicity Vox populi Racial status–ie, African American, Asian, Caucasian, Hispanic . It also enables search by the subjects' emotions (i.e., subject is angry, content, frustrated frus·trate tr.v. frus·trat·ed, frus·trat·ing, frus·trates 1. a. To prevent from accomplishing a purpose or fulfilling a desire; thwart: , happy, laughing, sad, serious or worried) and by the subject looking at or away from the camera and includes many other requested search features. In July 2006, Jupitermedia announced the launch of photos.jp (www.photos.jp), the first micropayment stock photography Web site based in Japan. Photos.jp was developed and built in Japan with Jupitermedia's partner Aeria, Inc. and utilizes software based on Jupiterimages' partner Stockxpert.com (www.stockxpert.com), a leading micropayment stock photography Web site. In September 2006, Jupitermedia announced the launch of Comstock Complete (www.comstockcomplete.com), a new paid subscription service offering over 100,000 royalty-free images, including the complete collections from Comstock Images and Thinkstock Images. Comstock Complete responds to the demands of creative professionals who need Comstock-quality, high resolution images at an affordable price. Comstock Complete offers two subscription levels: Print-resolution with images up to 14MB and Web-resolution with images up to 1.7MB. Comstock Images (www.comstock.com) continues to offer images on a pay-per-download basis and on CD. In October 2006, Jupitermedia announced the launch of JupiterGreetings.com, a new paid subscription service for animated online greeting cards See e-card. , 3D films and cartoons, online photo albums and more. By combining some of the 400,000 high-quality 3D animations and movies from Animation Factory (www.animationfactory.com) with music and sound effects sound effects Noun, pl sounds artificially produced to make a play, esp. a radio play, more realistic sound effects npl → efectos mpl sonoros from RoyaltyFreeMusic.com (www.royaltyfreemusic.com), Jupiterimages has efficiently and rapidly created a new line of business. New Online Media Offerings Jupitermedia continued to expand and strengthen its world-class proprietary JupiterWeb content and advertising opportunities with the addition of the following: In August 2006, Jupitermedia announced the launch of APIFinder.com (www.apifinder.com/), a new destination for developers within JupiterWeb's DevX network. The site includes an expansive index of application programming interfaces (APIs), a vital tool for the modern software architect. By searching the index, developers can quickly find the functionality they need to create software that leverages public services Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. from industry leaders such as Yahoo!, Amazon and Google. Site visitors can directly submit new APIs New API (also referred to as NAPI) is an interface to use interrupt mitigation techniques for networking devices in the Linux kernel. Such an approach is intended to reduce the overhead of packet receiving. to the index and can upload articles and API (Application Programming Interface) A language and message format used by an application program to communicate with the operating system or some other control program such as a database management system (DBMS) or communications protocol. software projects for editorial review and publication. In addition to the easy-to-use API index, the site provides expert advice on API programming and allows visitors to share ideas and techniques. In October 2006, Jupitermedia announced that its JupiterWeb division launched internetnews.com podcasts (www.internetnews.com/podcasts), a series of Web-based audio "newscasts" covering the hottest stories in the enterprise IT and Internet technology sectors. Weekly topics include breaking news on: Linux and Open Source; Enterprise Software; Chips, Processors and Hardware; Storage; and leading IT companies such as Microsoft, Sun, Oracle and Google, as reported by internetnews.com's beat reporters and experts. The podcasts are free of charge. [TABLE OMITTED] 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, 2005 and 2006. Online images consists of the Jupiterimages business that includes: BananaStock, Workbook work·book n. 1. A booklet containing problems and exercises that a student may work directly on the pages. 2. A manual containing operating instructions, as for an appliance or machine. 3. Stock, 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 , Nonstock, The Beauty Archive, IFA Immunofluorescent assay (IFA) A blood test sometimes used to confirm ELISA results instead of using the Western blotting. In an IFA test, HIV antigen is mixed with a fluorescent compound and then with a sample of the patient's blood. Bilderteam, Comstock Images, Creatas Images, PictureQuest, Liquid Library, Thinkstock Images, Thinkstock Footage, Bigshot Media, Goodshoot, ITStockFree, Stock Image, Pixland, Photos.com, Ablestock.com, PhotoObjects.net, Clipart.com, FlashFoundry.com, AnimationFactory.com and RoyaltyFreeMusic.com. Online media consists of the JupiterWeb business that includes the internet.com, EarthWeb.com, DevX.com and Graphics.com Networks. Other includes corporate overhead, depreciation and amortization. [TABLE OMITTED] (A) Jupitermedia sold its ClickZ.com Network on August 5, 2005. Online media revenues include $270,000 and $1.8 million for the three and nine months ended September 30, 2005, respectively, from the ClickZ.com Network. (B) Cost of revenues and operating expenses include non-cash, stock-based compensation expense of $1.2 million and $2.9 million, respectively, for the three and nine months ended September 30, 2006. (C) Includes depreciation and amortization expense. [TABLE OMITTED] [TABLE OMITTED] 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 of the purchase prices paid by Jupitermedia in connection with its recent acquisitions and are subject to change pending a final allocation of these amounts. The following forward looking-statements reflect Jupitermedia's expectations as of November 8, 2006. 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 [TABLE OMITTED] Notes: (A) This financial guidance does not include estimated share-based compensation expense relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc employee stock options in the amount of $0.02 per share for Q4 2006. About Jupitermedia Corporation Jupitermedia Corporation (Nasdaq: JUPM) (www.jupitermedia.com), headquartered in Darien, CT, is a leading global provider of original information and images 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, 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, ITStockFree, Stock Image, Pixland, Photos.com, Ablestock.com, PhotoObjects.net, Clipart.com, FlashFoundry.com, AnimationFactory.com, RoyaltyFreeMusic.com and JupiterGreetings.com. The online media division of Jupitermedia is JupiterWeb, 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 20 million users and generate over 350 million page views monthly. "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 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 http://www.jupitermedia.com/corporate/press.html |
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