JUPITERMEDIA CORPORATION REPORTS RESULTS FOR ITS THIRD QUARTER ENDED SEPTEMBER 30, 2008
(New York, NY - November 6, 2008) -- Jupitermedia Corporation (Nasdaq: JUPM) today reported results for the quarter ended September 30, 2008.
Highlights for the third quarter of 2008 include:
- Revenues for the third quarter of 2008 were $31.0 million compared to revenues of $34.8 million for the same period last year.
- Loss per diluted share was $0.63 and included non-cash stock-based compensation expense, legal fees related to the recently signed stock purchase agreement with Getty Images, Inc. and the establishment of a valuation allowance on certain deferred tax assets, which totaled $0.52 per diluted share. Excluding these charges, loss per diluted share was $0.11.
"In a very difficult business environment we have some significant highlights. Revenues from our JupiterimagesUnlimited royalty-free subscription offering grew over 100% for the nine months ended September 30, 2008 compared to the same period in 2007. We continue to experience significant growth from our Stockxpert.com microstock offering, both with single images and subscriptions," stated Jupitermedia's Chairman and CEO Alan M. Meckler. "Our Online Media division continues to be impacted by the economy, which has put pressure on our advertising and job board sales. We have, however, made progress in reducing operating expenses, specifically with our costs of sales and general and administrative expenses. In addition, we have made additional investments in our Online Media business, with the launch of three new blogs focused on Mobile media and a new event, UGCX, which is focused on user generated content and social networks."
Jupitermedia Corporation 3rd Quarter 2008 Financial Results Conference Call Alert
Jupitermedia Corporation invites you to participate in its conference call reviewing 2008 third quarter results on Thursday, November 6, 2008 at 5:00 pm EST.
The conference call number is (888) 690-2899 for domestic participants and (913) 312-1407 for international participants; confirmation code "459 9520." Please call five minutes in advance to ensure that you are connected prior to the presentation. The conference call replay will be available until Thursday, November 20, 2008. Replay call numbers are (888) 203-1112 for domestic participants and (719) 457-0820 for international participants: confirmation code: "459 9520."
New Online Images Offerings
Jupitermedia continued to expand and strengthen its world-class proprietary Jupiterimages offerings with the addition of the following:
In August 2008, Jupitermedia announced the launch of its latest image subscription offering, Photos.com Plus, available at Photos.com (www.photos.com). Photos.com Plus provides access to an image library of over 1.9 million images, including photos, illustrations, fonts, Flash files and audio, which is expected to grow by over 100,000 new images each month. This includes over 1.6 million images from Jupiterimages' Stockxpert (www.stockxpert.com) collection. Subscriptions are available for one month, three month and one year terms, and allow subscribers to download up to 750 images per month with a monthly subscription starting at $249.95.
In September 2008, Jupitermedia announced the launch of its second new subscription offering, Jupiterimages Unlimited Plus (www.jiunlimited.com). With over 2.3 million images (and growing by over 100,000 new images per month), Jupiterimages Unlimited Plus offers one of the largest selections of both professionally created and microstock images by subscription. Jupiterimages Unlimited Plus is comprised of twelve image collections, including premium brands such as Brand X Pictures and BananaStock, popular subscription collections including Photos.com, and an additional 1.6 million value images from Stockxpert.com (Jupiterimages' microstock collection). Jupiterimages Unlimited Plus has a variety of plans and payment options available to meet the needs of any image buyer.
New Online Media Offerings
Jupitermedia continued to expand and strengthen its world-class proprietary content and advertising opportunities with the addition of the following:
In August 2008, Jupitermedia's Mediabistro.com division announced the launch of three new blogs: MobileMarketingToday.Com (www.mobilemarketingtoday.com), MobileDevicesToday.com (www.mobiledevicestoday.com) and MobileAppsToday.com (www.mobileappstoday.com). These sites follow the January 2008 launch of MobileContentToday.com (www.mobilecontenttoday.com). The three new blogs are edited by Susan Schrank (Mobile Marketing), Michael Gartenberg (Mobile Devices) and Todd Ogasawara (Mobile Apps).
In October 2008, Jupitermedia's Mediabistro.com division announced the launch of UGCX - User Generated Content & Expo (www.ugcxevent.com), to be held February 9-10, 2009 at the San Jose Convention Center in San Jose, California. UGCX recognizes the impact of user generated content and social networks on all businesses, and will bring together the people who are building these solutions and the people who are planning to add these features to their own businesses. UGCX will bring together the visionaries and innovators in creating business models, content creation, platform creation, new media and brand presence for this emerging field.
About Jupitermedia Corporation
Jupitermedia Corporation (Nasdaq: JUPM, www.jupitermedia.com), headquartered in Darien, CT, is a leading global provider of images, news and original information, career Web sites and events for information technology, business, media and creative professionals. Jupitermedia includes Jupiterimages, one of the leading images companies in the world with over 10.0 million images online serving creative professionals. The JupiterOnlineMedia division of Jupitermedia consists of five distinct online networks: internet.com and EarthWeb.com for IT and business professionals; DevX.com for developers; and Mediabistro.com and Graphics.com for media and creative professionals. These networks include more than 150 Web sites and over 150 e-mail newsletters that are viewed by over 15 million users monthly. JupiterOnlineMedia also includes specialized career Web sites for select professional communities which can be found on Mediabistro.com and JustTechJobs.com. In addition, JupiterOnlineMedia includes JupiterEvents and Mediabistro's media-related events, which produce offline conferences and trade shows focused on IT and business-specific topics including ISPCON, Mediabistro Circus, Web 3.0 Conference & Expo, Mobile Content & Marketing Expo and UGCX Š User Generated Content Conference & Expo.
Important Additional Information Regarding the Stock Purchase Agreement dated as of October 22, 2008 by and between Jupitermedia Corporation and Getty Images, Inc. will be filed with the SEC
This communication is not a solicitation of a proxy from any security holder of Jupitermedia. In connection with the stock purchase agreement, Jupitermedia Corporation will file with the U.S. Securities and Exchange Commission a preliminary proxy statement and a definitive proxy statement. THE PROXY STATEMENT WILL BE SENT TO JUPITERMEDIA CORPORATION STOCKHOLDERS, WHO ARE URGED TO READ THE PROXY STATEMENT AND OTHER RELEVANT MATERIALS WHEN THEY BECOME AVAILABLE, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION AND THE PARTIES TO THE STOCK PURCHASE AGREEMENT. Jupitermedia Corporation investors and security holders may obtain free copies of these documents (when they are available) and other documents filed with the Securities and Exchange Commission at its web site at www.sec.gov. In addition, investors and security holders may obtain free copies of the documents filed with the Securities and Exchange Commission by going to Jupitermedia CorporationÕs Investors page on its corporate website at http://www.Jupitermedia.com/corporate/investors.html.
Jupitermedia Corporation and its directors and officers may be deemed to be participants in the solicitation of proxies from the stockholders of Jupitermedia Corporation in connection with the stock purchase agreement and the proposed transaction. Information about Jupitermedia Corporation and its directors and officers can be found in its proxy statements on Schedule 14A and annual reports on Form 10-K filed with the Securities and Exchange Commission, as well as on Jupitermedia Corporation's Investors page on its corporate website at www.jupitermedia.com/corporate/investors.html. Additional information regarding the interests of those persons may be obtained by reading the proxy statement for the proposed transaction when it becomes available.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act 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. Important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements include, for example, the competitive environment in which Jupitermedia and Jupiterimages compete; the unpredictability of Jupitermedia's and Jupiterimages' respective future revenues, expenses, cash flows and stock price; Jupitermedia's and Jupiterimages' respective ability to integrate acquired businesses, products and personnel into their existing businesses; Jupitermedia's and Jupiterimages' respective ability to protect their intellectual property; Jupitermedia's dependence on a limited number of advertisers; the conditions to the completion of the transactions contemplated by the stock purchase agreement may not be satisfied, or the regulatory approvals and clearances required for the transactions contemplated by the stock purchase agreement may not be obtained on the terms expected or on the anticipated schedule (if at all); the parties' ability to meet expectations regarding the timing for completion of the transactions contemplated by the stock purchase agreement; the retention of certain key employees at Jupitermedia and Jupiterimages; and the outcome of any legal proceedings that may be instituted against Jupitermedia Corporation and others following the announcement of the stock purchase agreement.
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.
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Senior Marketing Manager
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