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AQuantive reports earnings gain for Q1

Published on .

Seattle--AQuantive Inc., formerly Avenue A Inc., reported net income of $1.9 million, or 3 cents a share, for the first quarter of 2003, compared with a net loss of $3.9 million, or 6 cents a share, for the same period last year.

Revenue for the quarter was $47.5 million, up 102% from revenue of $23.5 million in the first quarter of 2002. Gross profit was $14.2 million, up 109% from gross profit of $6.8 million from the same period last year.

The company also provided financial guidance for 2003, including the following: Revenue in the range of $190 million to $210 million; gross profit in the range of $56 million to $62 million; and net income in the range of 16 cents to 22 cents per share.

AQuantive Inc. also named two additional members to its board of directors. Joining the board are Mike Slade, former chairman-CEO of Starwave Corp., and Rick Fox, partner at consulting firm RavenFire L.L.C.

--Kate Maddox

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