SWMX Announces Strong Q4, 2006 Financials
March 27, 2007 at 7:12 AM (PT)
SWMX INC. announced financial results for the fourth quarter and full year ended DECEMBER 31, 2006.
Fourth-quarter highlights included transaction volume, representing gross billings, increased 52% to $7 million from $4.6 million in Q3 '06. Revenue increased 58% to $1 million from $633,000 in Q3 '06.
2006 highlights included transaction volume increased to $15.5 million from less than $1 million during the partial year 2005. Revenues increased to $2.5 million from $190,000 during the partial year 2005.
"In 2006, our first full year as a company, we made tremendous progress in establishing our position as the leading electronic marketplace for buying and selling advertising time in both radio and television," said CEO JOSH WEXLER. "As evidenced by our Q4 '06 results, in which we nearly matched the total transaction volume of the previous three quarters, we are driving increasing awareness of the exchange's capabilities and escalating adoption among advertisers, agencies and media owners."