First Quarter 2007 Results
Revenue for the quarter ended March 31, 2007 was $3,111,985 compared to $3,145,588 during the first quarter of 2006. The first quarter of 2007 includes a full three months of results arising from the acquisition of C3 Online Marketing Inc, ("C3") on November 10, 2006. During the first quarter of 2007, online marketing solutions revenues resulting from the C3 acquisition largely offset declines in Revenue from the provision of traditional marketing services where spending by major clients on sales incentive programs was lower than during the first quarter of 2006.
EBITDA for the quarter ended March 31, 2007 was $(208,574) compared to $(210,604) in the first quarter of 2006 as an increase in Gross Profit of $490,514 was offset by higher selling, administrative and general expenses ("SG&A"). Gross Profit for the first quarter of 2007 was $1,875,646 or 60.3% of Revenues compared to $1,385,132 or 44.0% of Revenues for the same period in 2006.
