Press Release
InterSearch Group Provides Preliminary Second Quarter Results Exceeding Guidance
Wednesday June 28, 2006 8:34 am ET
InterSearch Group, Inc. (OTC:IGPN - News), a leading provider of Internet search services and operator of industry specific destination portals, today announced preliminary financial results for the second quarter ending June 30, 2006.
The company currently expects to report total revenue of approximately $6.0 to $6.4 million, exceeding the guidance range of $5.5 to $6.0 million provided by management on May 11th, 2006. InterSearch Group also expects its second quarter earnings before interest, taxes, depreciation and amortization (EBITDA) to be in the range of $1.8 to $2.0 million as compared to the previous guidance of $1.2 to $1.5 million.
The company primarily attributes the strong results to higher than expected revenues in the Search Engine Marketing segment, and continued performance of InterSearch Group's tax-related domains including www.irs.com outside of the traditional tax season.
Said Chairman and CEO of InterSearch Group, Dan O’Donnell, "We are pleased that the changes we have implemented to the tax-domains acquired by InterSearch in September of 2005 are driving increased traffic volume as well as enhancing the monetization of that traffic. This quarter’s performance serves as evidence of our ability to successfully integrate new Internet properties into our platform and confirms the opportunity for our long-term acquisition strategy."
Final results for the second quarter of fiscal 2006 will be reported by the company after the close of market on August 3rd, 2006.
About InterSearch Group, Inc.
InterSearch is a leading provider of Internet search services through a combination of traffic aggregation and proprietary websites, such as www.irs.com, www.camps.com and www.summercamp.com. The company operates in the fastest growing segments of Internet commerce including paid search, direct navigation and online marketing driving high quality traffic to advertisers and providing users with quick access to pertinent products and services. Through its InterSearch Corporate Services division, the company also provides IT and Internet Technology Professional Services to large corporations, predominantly in the financial services market. InterSearch is headquartered in San Francisco, California at 222 Kearny Street, Suite 550, and can be reached via telephone at 415-962-9700. More information about InterSearch Group, Inc. can be found at http://www.intersearch.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks and uncertainties. Forward-looking statements, which are based on management’s current expectations, are generally identifiable by the use of terms, such as "anticipates," "believes," "could," "estimates," "expects," "intends," "may," "plans," "possible," "potential," "predicts," "projects," "should," "would" and similar expressions. The potential risks and uncertainties that could cause actual results to differ materially from those expressed or implied herein include, among others, the Company’s ability to raise additional debt or equity financing, the Company’s relationships with its current and future advertising and distribution network partners, the Company’s ability to achieve anticipated results from acquisitions, and market development of Internet advertising and paid search services. Further information on the factors that could affect the Company’s financial results is included in the Company’s SEC filings, including the most recent registration statement filed with the SEC under the heading "Risk Factors." Except as required by law, InterSearch Group assumes no obligation to update these forward-looking statements publicly, even if new information becomes available in the future.
Investor Contact:
BPC Financial Marketing,
John Baldissera,
800-368-1217.