NetGravity Loss Rises in Third Quarter

NetGravity Inc. reported a third-quarter net loss of $2.8 million, or $0.22 per share, compared to a net loss of $1.5 million or $0.61 per share ($0.22 per share on a pro forma basis) for the third quarter of 1997.

The company reported revenues of $3.06 million for the third quarter, up from revenues of $1.74 million in the same period a year earlier.

For the nine months, the company reported revenues of $7.39 million, up from $4.49 million for the same period a year earlier. The net loss for the nine months ended Sept. 30, 1998, was $8.63 million, or $1.17 per share, compared to a net loss of $4.41 million or $1.87 per share for prior year period.

“We are extremely pleased with our performance during the third quarter,” said John Danner, chairman and chief executive officer of NetGravity. “We remain focused on our mission of providing leading online advertising and direct marketing management solutions to content publishers, advertising agencies, Internet advertising networks and merchants.”

No further explanation was offered, nor did the company give any indication of when it might attain profitability. NetGravity stock closed at 8 5/16, up 7/16.