24/7 Real Media Names New CFO, Raises Guidance
24/7 Real Media said yesterday that Jonathan Hsu replaced Norman Blashka as chief financial officer. The company also raised its earnings guidance for 2004.Hsu was promoted to CFO from senior vice president for corporate development and strategic planning, a position he held at the online ad company since March 2000. The company said Blashka, who joined Real Media in September 1999, is leaving to pursue other interests. He will stay with the company as a consultant during a short transition, 24/7 Real Media said.
24/7 Real Media CEO David Moore praised Blashka for helping the company survive the bursting of the dot-com bubble.
"Norman served admirably as CFO during a difficult period when all Internet companies, including ours, struggled against adverse financial conditions," he said on a conference call.
With the market rebounding, 24/7 Real Media said it expects 2004 revenue of $70 million to $75 million. The midpoint of the range represents a nearly 50 percent increase from projected 2003 revenue. 24/7 Real Media forecasts to reach full-year operating profitability in 2004.
Moore said 24/7 Real Media should benefit in 2004 from its recently closed acquisition of Real Media Korea as well as increased spending on Internet advertising.
Brian Morrissey covers search marketing for DM News.com. To keep up with the latest search marketing news subscribe to our free e-mail weekly newsletter Search Engine Marketing by visiting www.dmnews.com/cgi-bin/newslettersub.cgi .
