• August 1, 2002

The digital marketing and technology company Avenue A Inc. reported Wednesday a 48% jump in revenues for Q2 and signs that an advertising recovery is coming.

The company had revenues of $30.4 million compared to revenue of $20.6 million in Q2 2001. Revenue for the first six months of 2002 was $53.9 million, compared to revenue of $44.8 million a year ago. Avenue A predicts profitability by the end of the year.

“Despite what many have viewed as a difficult market, our agency business had several clients increase their online ad budgets materially during the second quarter and our Atlas DMT division added a significant amount of new customers,” said President/CEO Brian McAndrews. “We remain well-positioned to reach our objective of profitability by year’s end.”

Both the Avenue A interactive agency and Atlas DMT divisions achieved notable developments during Q2. Atlas DMT launched the newest version of its Atlas Digital Marketing Suite 3.0, which was also chosen by the Interactive Advertising Bureau for its first ad campaign. Avenue A announced BrandOptics, which ties survey data to sales data and positioned client AT&T Wireless for the new At-Work Network.