Traffic.com Second Quarter Results - Revenue Up 18%

Traffic.com, announced financial results for the second quarter 2006, with revenue of $14.4 million, an increase of 18.4% from $12.1 million in the second quarter of 2005. The Company reported a net loss of $4.7 million, or $0.23 per share, in the second quarter of 2006, compared to a net loss of $8.9 million, or $2.80 per share, in the second quarter of 2005. Breakeven looks like it is coming for these guys. For the GPS user, it's good to see these types of companies survive and expand their networks so we can use the traffic data to our advantage.

Robert N. Verratti, chief executive officer, Traffic.com said, "We are pleased with the Company’s execution against our goal of creating a clear leadership position in the market for real-time traffic information. We continue to gain market share in our traditional advertising business, and the significant growth in our Internet-related and traffic data services results provide evidence that we are making progress in the transition of our business model to one with greater revenue and profitability growth potential.”

“Traffic.com achieved a milestone in geographic expansion to 50 metropolitan areas well ahead of its original year-end target. In addition to the most comprehensive real-time traffic information coverage and technology offering, our growing mindshare continues to attract other industry leaders. We recently added AOL and Garmin International to our partner list. These additions and our existing partnership with NAVTEQ give us strategic relationships with the dominant market share leaders in both the personal navigation device and digital mapping data markets,” Verratti added.
Operational highlights since Traffic.com’s last earnings announcement include: