Traffix profits up slightly
-
- October
- 15
Traffix Inc., the interactive media company in Pearl River that plans to be purchased, earned $847,000, or 6 cents a share, during the quarter that ended in August, compared with $842,000, also 6 cents a share, a year earlier, the company said this morning.
Revenue for the third quarter of company’s fiscal 2007 was up $6 million to $25.7 million. The company said the increase in revenue was mainly due to sales in the search engine marketing and affiliate marketing sectors.
Traffix runs a number of Web sites that bring in revenue from client ads. The sites’ content includes music, games, sweepstakes and a downloadable version of the Bible.
The company announced last month it had an agreement to be purchased by digital entertainment company New Motion Inc. of Irvine, Calif. in a deal that values Traffix at more than $138 million.
Under the agreement, Traffix shareholders will receive 0.683 of a share of New Motion stock for each share of Traffix stock. Traffix shareholders will own 45 percent of the new company, with New Motion shareholders owning 55 percent.
The deal, which must be approved by regulators and shareholders, would create a company with annual revenues of $160 million.
Jeffrey L. Schwartz, the chairman and chief executive of Traffix, said the deal is expected to close late this year or early next year.
This entry was posted
on Monday, October 15th, 2007 at 1:50 pm by Allan Drury.
You can follow any responses to this entry through the RSS 2.0 feed.
Print
| 
Email
