NEW YORK, May 3, 2005. Jupitermedia Corporation (Nasdaq: JUPM) today reported results for the quarter ended March 31, 2005. Revenues for the first quarter of 2005 were $25.0 million compared to revenues of $14.4 million for the same period last year, an increase of 74%. Net income for the first quarter was $5.5 million, or $0.16 per diluted share, compared to net income of $1.6 million, or $0.06 per diluted share, for the same period last year. We acquired Dynamic Graphics Group on March 7, 2005. Excluding the results of Dynamic Graphics Group, our revenues for the first quarter of 2005 were $21.6 million and net income was $5.2 million.
"We are pleased with our financial results for the first quarter, with record revenues and net income," stated Jupitermedia's Chairman and CEO Alan M. Meckler. "Significant highlights for the first quarter include continued growth of our JupiterImages division, both organically and with the recent acquisition of Dynamic Graphics Group. With the acquisition of Dynamic Graphics Group, Jupitermedia is now the third largest company in the world in the field of selling and distributing stock photography, stock footage and other imagery. Dynamic Graphics' Creatas Images, PictureQuest and Liquid Library brands are widely known worldwide and provide us with thriving sales operations in the United States, the U.K., Germany and Australia. In addition, Dynamic Graphics Group is one of the leading publishers of magazines for stock photo and graphics professionals. We will make effective use of these properties to help distribute and cross-promote our existing JupiterImages brands. This acquisition was accretive to our earnings for the first quarter," added Meckler.
Jupitermedia Corporation 1st Quarter 2005 Financial Results Conference Call Alert
Jupitermedia Corporation invites you to participate in its conference call reviewing 2005 first quarter results, scheduled for Wednesday, May 4, 2005 at 11:00 am EST.
The conference call number is (800) 289-0518 for domestic participants and (913) 981-5532 for international participants; pass code "784 8237." Please call five minutes in advance to ensure that you are connected prior to the presentation. The conference call replay will be available until Wednesday, May 18, 2005. Replay call numbers are (888) 203-1112 for domestic participants and (719) 457-0820 for international participants: pass code: "784 8237."
Acquisitions
In March, Jupitermedia announced the acquisition of Creatas, L.L.C., the parent company of Dynamic Graphics, Inc. (www.dgusa.com) and PictureQuest Acquisition Company, L.L.C., and their many stock photo and related graphics brands ("Dynamic Graphics Group"), for $38.2 million in cash and 1,483,074 restricted shares of Jupitermedia common stock for a total purchase price of approximately $60.4 million. Jupitermedia financed the cash portion of the purchase price with cash on hand and $20.0 million in borrowings under a credit facility with JP Morgan Chase Bank, N.A. obtained in connection with the transaction.
In March, Jupitermedia announced the acquisition of GraphicDesignForum (www.graphicdesignforum.com), a leading interactive community of design professionals. This site, which is now part of Jupitermedia's Graphics.com Network, provides designers and creative professionals with tutorials on using leading illustration and image editing programs. Terms of this acquisition were not disclosed.
In April, Jupitermedia announced the acquisition of JGuru.com (www.jguru.com), an online community that provides news, information, forums and online courses designed for Java(TM) programmers and software developers. The JGuru.com online community is comprised of top Java(TM) developers, who are encouraged to maintain their individuality and express their own opinions freely, which gives JGuru.com the credibility needed for the success of any online community. Terms of this acquisition were not disclosed.
