L90, Inc. (Nasdaq: LNTY) was up 3 3/8 to 22 3/8 early Thursday after announcing that first-quarter revenue will be $8 to $9 million, well above year-earlier levels and higher than previously predicted. Analysts are expecting the company to post a loss for the quarter of 33 cents a share, according to Zacks Investment Research.
In the 1999 first quarter, the Internet advertiser and marketer reported revenue of $2.6 million. President and Chief Executive Officer John Bohan said the more than 200 percent increase is due to “growth across our entire business.”
L90 focuses on what it calls the “high end” of the Internet advertising industry by providing sponsored and direct ads, sweepstakes programs and other campaigns. The company’s adMonitor lets advertisers and Web publishers target ads to specific users and track the effectiveness of their campaigns. Clients include iVillage, Microsoft, Visa, General Motors and Warner Bros.
L90 went public in January at a price of $15 a share. The shares took off in their early days of trading, rising quickly to 31 in early February, but have since trended lower.