Jupitermedia expansion continues unabated; financial results.

Jupitermedia (New York) had revenue of $102.8 million for the first nine months of this year, an increase of 27.5% over the $80.6 million reported for the first three quarters of 2005. Net income declined from $73 million to $12.6 million, mainly due to a 2005 gain of $29.1 million from the sale of events and the ClickZ.com network, as well as a $23.5 million benefit from the reversal of the valuation allowance related to deferred income tax assets.

Jupitermedia (New York), continuing its expansion through acquisitions and internal growth, has signed an agreement to increase its ownership position from an initial 49.7% equity investment in January 2006 to 90% in HAAP Media Ltd. (Budapest), a company that operates two stock photo web sites, one of which offers "micropayment" stock image libraries. No terms were given.

The deal continues Jupitermedia's almost feverish expansion endeavors in 2006. For the year, Jupitermedia has completed eight acquisitions, not including HAAP. The company is now close to completing three purchases, including HAAP, RoyaltyFreeMusic.com (Atlanta, GA) and Cover-Imagen y Publicaciones (Madrid), in the last four months.

Organic growth has been just as important. In July, the company launched photos.jp, the first micropayment stock photography web site, and a new search engine, and in September, the company launched Comstock Complete, a new paid subscription service offering over 10,000 royalty-free images. In August, it launched APIFinder.com, a site for developers within JupiterWeb's DevX network, and in October, the company launched JupiterGreetings.com, a paid subscription service for animated online greeting cards, 3D films and cartoons, and online photo albums, and internetnews.com, a podcast site that carries a series of newscasts covering the enterprise IT and Internet technology sectors.