24/7 CEO sees break-even in 2001

Larry Dignan

24/7 Media Inc. Chief Executive Officer David Moore said Tuesday that the online advertising and media network could break even in the second half of 2001.

Moore, speaking at the PaineWebber Growth and Technology Conference in New York, said the company (Nasdaq: TFSM) had projected break even in the first half of 2002, but is "looking for ways to pull that into 2001."

Rival DoubleClick (Nasdaq: DCLK) is expected to break even in the third quarter of this year.

The CEO said 24/7 would give better guidance in upcoming weeks once it closes the acquisition of Exactis.com Inc. (Nasdaq: XACT), an e-mail marketing company. 24/7 Media has projected sales of $220 million for 2000.

Moore said the company is beginning to scale its infrastructure and ramp up its technology products. Meanwhile, online advertising could be picking up from a spring lull.

"We saw a slowdown in dot-com spending in April and early May, but it has come back strong and hard," said Moore. He noted that advertising picked up in late May and the first week of June.

On other topics, Moore was bullish on the company's European operations and wireless and broadband initiatives.

In related news, the company said it acquired iPromotions, an incentive marketing company. The acquisition adds online sweepstakes, incentive offers, premiums, contests, and viral marketing programs to 24/7 Media's product line.