From the Wires
Inuvo Announces Revenue Increases for alOt During Black Friday and Cyber Monday
Cyber Monday Revenue Increases 18%; Black Friday Revenue Increases 11%
Nov. 28, 2012 07:07 AM
NEW YORK, NY -- (Marketwire) -- 11/28/12 -- Inuvo, Inc. (NYSE MKT: INUV) (the "Company" or "Inuvo"), an Internet marketing and technology company that manages a network of websites and builds and markets browser based consumer applications, today announced that search revenue from the company's alOt products significantly increased during "Black Friday" and "Cyber Monday." "Black Friday" and "Cyber Monday" are the names given to the first Friday and Monday following Thanksgiving, and mark the unofficial beginning of the holiday shopping season.
Cyber Monday estimated search revenue from Inuvo's alOt products increased 18% over average search revenue from the three prior Mondays. This represents an even greater improvement over last year when the increase for the same measurement period for Cyber Monday was 11%. Additionally, the Company experienced a 10% increase in estimated search revenue from alOt products for Black Friday compared to average revenue from the three prior Fridays. This is in contrast to prior years when Black Friday had not represented a significant increase to revenue. This data appears to be in line with a wider market trend of Black Friday spending moving from physical stores to online.
"Management is extremely pleased with the growth of our alOt products revenue during the launch of the holiday shopping season," stated Peter Corrao, Chief Executive Officer of Inuvo. "We believe that shoppers will maintain their holiday shopping online and that our software search division will continue to expand and support this increase in online traffic."
About Inuvo, Inc.
Inuvo®, Inc. (NYSE MKT: INUV) is an Internet marketing and technology company specialized in marketing browser-based consumer applications, managing networks of website publishers and operating specialty websites. To learn more about Inuvo, please visit www.inuvo.com.
This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words or expressions such as "anticipate," "plan," "will," "intend," "believe" or "expect" or variations of such words and similar expressions are intended to identify such forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of the Company's future Adjusted EBITDA, growth rate, and user base. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, including, without limitation, statements made with respect to expectations with respect to: the strategy, markets, synergies, costs, efficiencies, and other anticipated financial impacts of the proposed transaction; the combined company's plans, objectives, expectations, intentions with respect to future operations, fluctuations in demand; changes to economic growth in the U.S. economy; and government policies and regulations, including, but not limited to those affecting the Internet. All forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, many of which are generally outside the control of Inuvo and are difficult to predict. Inuvo undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Additional key risks are described in the filings made by Inuvo with the U.S. Securities and Exchange Commission, including the Form 10-K for the year ended December 31, 2011 and most recent Form 10-Q.