MIVA, Inc. (NASDAQ: MIVA) says its new products and services will forge the company’s future direction. That includes a new online ad platform, launched in beta form on Oct. 1 for U.S. and EU customers.
“Our new MIVA Media Technology platform has begun beta-testing ahead of schedule and we are continuing to experience growth and improved monetization with our ALOT toolbar brand,” Corrao said. “We are deeply committed to and believe that our strategic plan for a return to profitability is on the right course. At the same time, MIVA continues to maintain dialogues with interested third parties.”
The ALOT Web browser toolbar, which organizes information and entertainment for users and advertisers, has now surpassed 3 million users. The number sits at 3.2 million, a 13-percent increase over the 2.9 million active users at the end of the second quarter. ALOT replaced the company’s earlier toolbar, which still has about 2.3 million users.
“ALOT toolbars are continuing to significantly out-monetize MIVA’s legacy toolbar brand, with revenue per thousand live users through ALOT, 67% higher than MIVA’s legacy brand.” the company says, citing internal statistics.
The company also continues a EU restructuring plan to turn around a $3.6 million EBITDA loss in the first half of 2008 into a profit before the end of 2008, excluding restructuring costs.
“MIVA plans to continue to provide periodic updates to ensure that key stakeholders are informed during this period of uncertainty in the global stock markets,” said Corrao.
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