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.
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.
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.
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.
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.''
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,''
Media also announced that the Company has filed an amendment of
its Q3 FY99 results.
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.
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.
National Financial Network
Robert Weiss, Investor Relations
(781) 444-6100 ext. 11