The results mark the first time has moved into profit, helped by a 14% growth in its advertiser base. The number of active advertisers receiving targeted traffic from the Espotting Network was 22,700 in the first quarter of 2004, compared with 20,000 in the third calendar quarter of 2003.
Daniel Ishag, CEO and founder of Espotting Media, said: "We are delighted that Espotting has reached profitability and that we have had the most successful quarter in the company's history. As we approach our merger with FindWhat.com, Espotting's performance is stronger than ever."
Espotting announced its 拢97m merger deal with Findwhat.com last June.
Espotting said it anticipated that shareholders of both companies will vote on the merger in June.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .