DAG Media Reports Fiscal Year 1999 ResultsRevenue Up 58% -- Earnings Up 21% --

NEW YORK--(BUSINESS WIRE)--March 22, 2000--DAG Media, Inc (NASDAQ:DAGM - news), the leading independent print and online publisher of yellow page directories, today reported that the Company's net advertising revenue for the fiscal year ended December 31, 1999 was $4,365,000, a remarkable 58% increase compared to revenues of $2,759,000 for fiscal 1998.

The Company's gross profit jumped to $3,937,000 in fiscal 1999 from $2,381,000 in the 12-month period ending December 31, 1998.

In fiscal 1999, DAG Media's net income totaled $433,000, an increase of 21% over the net income of $358,000 in the 12-month period ending December 31, 1998. Basic net income per common share outstanding was $0.19 in 1999 and $0.29 in 1998, based on the basic weighted average number of common shares of 2,285,639 and 1,250,000, respectively, with the increase in the number of shares resulting from the initial public offering in May, 1999.

As of December 31, 1999, the Company reported $7,201,000, or approximately $2.4 per share, in cash and cash equivalents, current assets of $10,632,000, and total assets of $12,164,000. DAG Media also reported total shareholders' equity of $8,528,000.

DAG Media Chief Executive Officer and President Assaf Ran commented, ``DAG Media had a very intensive year as we moved towards the launch of New Yellow. We expect our advertising revenues to grow sizably, positively influencing the Company's bottom-line in 2000.''

``We also anticipate DAG Media's rapid market penetration, which is driven by the overwhelming cost advantage the Company is offering yellow page advertisers. New Yellow provides advertisers the same exposure as that of Bell Atlantic's Yellow Pages, but at a 70% discount,'' Ran concluded.

DAG Media also announced that the Company has filed an amendment of its Q3 FY99 results.

DAG Media, Inc. currently publishes and distributes two directories in print and online that service the New York metropolitan area and northern New Jersey. The Company also provides value-added products such as referral and tourist information hotlines as well as the web portal http://www.porty.com/, which offers free nationwide directory information, Internet voice and fax telephony, and a variety of other services.

Forward-looking statements in this release are made pursuant to the ``safe harbor'' provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including, without limitation, continued acceptance of the Company's products, increased levels of competition, new products and technological changes, the Company's dependence upon third-party suppliers and other risks detailed from time to time in the Company's periodic reports filed with the Securities and Exchange Commission.


Contact:
     National Financial Network
     Robert Weiss, Investor Relations
     (781) 444-6100 ext. 11
     www.porty.comand
     www.nfnonline.com/dagm

 

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