Aptimus Inc., an online direct marketing network, said yesterday that its net revenue for the second quarter fell to $381,000, from $5.8 million a year ago. In the first quarter, the Seattle-based company reported revenue of $926,000.
The company's net loss for the second quarter rose to $5.6 million, or 42 cents per share, from $4.6 million, or 29 cents per share, in the same quarter a year earlier. Aptimus' first-quarter net loss was $8.8 million, or 57 cents per share.
Aptimus attributed its continuing loss to the repositioning of its business. In the first quarter, the company reduced its staff from 215 to 60 employees. The company said it is significantly reducing its marketing, technology and operations expenses as a result of the repositioning.
It also said earlier in the second quarter that it had hired an investment bank to explore strategic alternatives, which may include an outright sale of the company or a merger. The company hopes to announce plans for its future in the next few weeks.
Aptimus repositioned its business in the first quarter and relaunched its Aptimus Network to focus on lead generation and targeting based on actions, context or behavior, rather than on profile-driven targeting. The Aptimus Network, which includes 50 clients and 60 distribution partners, presents targeted offers to marketers and is paid based on response to the offer.