MIVA, who yesterday rejected an acquisition bid from online video search engine blinkx, has posted a $6.5 million loss for the second quarter of 2008. MIVA CEO and President Peter Corrao tried to keep things in perspective for shareholders and Wall Street:
“The most recent quarter has been a transitional one for our business. We are encouraged by the results of the growth initiatives that we've been working towards, such as the continued roll-out of our ALOT toolbar and homepage brand and the continued growth of destination sites like Spill.com. In addition, our new MIVA Media technology platform remains on schedule for a US release in the fourth quarter of this year.”
While significant, the loss is at least less severe than last year's $16 million loss for the same quarter.
The Original Search Marketing Event is Back!
SES Denver (Oct 16) offers an intense day of learning all the critical aspects of search engine optimization (SEO) and paid search advertising (PPC). The mission of SES remains the same as it did from the start - to help you master being found on search engines. Early Bird rates extended through Sept 19. Register today!