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Jupitermedia Corporation Reports Record Results for Its Second Quarter Ended June 30, 2004

Online Stock Market Trading NEW YORK--(BUSINESS WIRE)--Aug. 4, 2004--Jupitermedia Corporation (Nasdaq: JUPM) today reported results for the quarter ended June 30, 2004. Revenues for the second quarter of 2004 were $17.8 million compared to revenues of $10.2 million for the same period last year, an increase of 75%. Net income for the second quarter was $3.5 million, or $0.11 per diluted share, compared to a net loss of $111,000, or $0.00 per diluted share, for the same period last year.
"We are pleased with our financial results this quarter, with both record quarterly revenues and net income," stated Jupitermedia's Chairman and CEO Alan M. Meckler. "Our acquisition of the assets of the Comstock Images business on April 1, 2004, added over 500,000 wholly owned images to our growing JupiterImages business which sells commercial stock images by single download, CD or online subscription. We are experiencing significant marketing and business synergies between Comstock Images and our JupiterImages division as well as our other Jupitermedia divisions. Our acquisition of the assets of the Thinkstock Images and Thinkstock Footage businesses on July 28, 2004, furthers Jupitermedia's position as one of the largest worldwide organizations in the business of selling stock images and enables us to enter the rapidly growing business of selling video footage online. Our follow-on public offering, co-managed by Piper Jaffray & Co. and SG Cowen & Co., LLC, was successfully completed on May 28, 2004, and raised net proceeds of over $30 million for Jupitermedia. Net proceeds are being used primarily for working capital and general corporate purposes, including potential acquisitions and the repayment of all outstanding indebtedness incurred to finance the acquisition of Comstock Images," added Meckler.

- ScanSoft, Inc. ( SSFT) today reported revenue of $10, 268, 000 and net income of $1, 298, 000 (before goodwill amortization), or $0.04 per share on a diluted basis, for its second quarter ended June 30, 1999. Including the effects of goodwill amortization, the Company reported net income of $823, 000 or $0.03 per diluted share for its second quarter, the highest earnings achieved in a single quarter in the Company's history. For the six months ended June 30, 1999, ScanSoft reported revenue of $14, 776, 000 and net income (before unusual items and goodwill amortization) of $1, 403, 000, or $0.05 per diluted share. Including the effects of unusual items and goodwill amortization, the Company reported a net loss of $3, 201, 000 or $0.13 per share, for the six months ended June 30, 1999.

Stock Investing Course Jupitermedia Corporation 2nd Quarter 2004 Financial Results Conference Call Alert

Stock Market Game Jupitermedia Corporation invites you to participate in its conference call reviewing 2004 second quarter results, scheduled for Thursday, August 5, 2004 at 11:00 am EST.

On a GAAP basis, Nuance recognized a net loss of $9.4 million, or $(0.06) per share, in the quarter ended June 30, 2006, compared with net income of $0.2 million, or $0.00 per diluted share, in the quarter ended June 30, 2005. GAAP measure, GAAP net income of $19.7 million, or $0.11 per diluted share, for the period ending June 30, 2006, GAAP net income of $5.9 million, or $0.05 per diluted share, in the quarter ended June 30, 2005.

Stock Investing Game The conference call number is (800) 259-2693 for domestic participants and (913) 981-5575 for international participants: pass code "276 568". Please call five minutes in advance to ensure that you are connected prior to the presentation. The conference call replay will be available until Thursday, August 19, 2004. Replay call numbers are (888) 203-1112 for domestic participants and (719) 457-0820 for international participants: pass code "276 568".

Nuance reported fiscal fourth quarter revenues of $61.9 million, a 47 percent increase over revenues of $42.0 million in the quarter ended September 30, 2004. Nuance recognized a net loss of $7.7 million, or $0.06 per share, in the quarter ended September 30, 2005 compared with a net loss of $6.2 million, or $0.06 per share, in the comparable period 2004. These GAAP figures include revenues and expenses associated with the acquisition of the former Nuance for the period following September 16, 2005.

Journal Prime Rate Street Wall Acquisitions

Company to Host Conference Call on August 14, 30 p.m. Eastern REDWOOD CITY, CA, August 06, - Migo Software, Inc. ( MIGO), a global provider of mobile computing software, announced today that the Company's senior management will discuss the results of operations for the second quarter ended June 30, 2007 during a conference call scheduled for Tuesday, August 14, 2007, 30 p.m. Eastern. The Company's financial results for the quarter are scheduled to be released earlier that day.

Stock Market News -- In April, Jupitermedia announced that it acquired substantially all of the assets of Comstock Images (www.comstock.com) for $20.85 million in cash and the assumption of certain liabilities. Comstock Images is based in Mountainside, NJ with operations in Toronto, Canada and Steinsel, Luxembourg. Comstock Images has been in the stock imagery business since 1976 and possesses an extensive archive of wholly owned commercial stock images. Jupitermedia also announced that it had obtained credit facilities with HSBC Bank USA that provide for borrowings of up to $23 million to help finance this and other potential acquisitions. A total of $13 million was borrowed to help finance the acquisition of Comstock Images. These borrowings were repaid in full in May 2004 after the completion of Jupitermedia's follow-on stock offering.

Stock Investing Basics -- In July, Jupitermedia announced that it acquired over 30,000 high-resolution image assets from a variety of leading content providers in several transactions for its JupiterImages division (www.jupiterimages.com). Terms of these acquisitions were not disclosed.

Stock Investing Software -- In July, Jupitermedia also announced that it acquired the assets of the Thinkstock Images and Thinkstock Footage businesses (www.thinkstock.com, www.thinkstockfootage.com) for $4.0 million in cash, the assumption of certain limited liabilities and 50,000 restricted shares of Jupitermedia common stock. Thinkstock has been in the stock imagery and stock footage business since 1999 and is based in Charlotte, NC. The acquisition adds over 25,000 wholly-owned digitized stock images and over 4,000 wholly-owned stock video clips to JupiterImages' image library. Ron Chapple, renowned photographer and founder of Thinkstock, will continue to provide world-class imagery for Thinkstock and JupiterImages.

Stock Market Trading New Online Media Offerings

Stock Investing For Dummy In June, Jupitermedia launched the SearchEngineWatch.com Forums (forums.searchenginewatch.com), an online discussion area allowing readers to share experiences, tips and thoughts about the growing area of search and search marketing. Major discussion areas of the SearchEngineWatch.com Forums include Featured Discussions, Search Engines and Directories, Search Engine Marketing Strategies and General Search Issues.

Stock Market Crash New Research Services

Stock Investing Tip Jupitermedia continued to expand and strengthen its proprietary research offerings. In August, JupiterResearch launched a new research service covering home theater and digital home entertainment, marking the eighth new practice started by JupiterResearch since it was acquired in July 2002. The Home Theater research service helps vendors prepare for market opportunities created by the explosion of new home entertainment technologies. It delivers insights on consumer needs and expectations, enables better decisions about such topics as convergence and optimal form factors and helps vendors develop strategies to maintain margins in the face of rapid commoditization.

Stock Market Chart Conferences and Trade Shows

Online Stock Investing JupiterEvents, a division of Jupitermedia, produces paid conferences and trade shows on IT and business-specific topics worldwide that are aligned with the content on our web sites and our research offerings. JupiterEvents held eight paid conferences and trade shows in the second quarter, each focusing on a different issue pertaining to information technology and the Internet industry. Events included Digital Rights Management Strategies Conference & Expo; ISPCON Spring 2004; Wi-Fi Planet Japan Conference & Expo; Search Engine Strategies Japan Conference & Expo 2004; Search Engine Strategies Canada Conference & Expo 2004; Search Engine Strategies U.K. Conference & Expo 2004; Wi-Fi Planet Conference & Expo Spring 2004 and Internet Planet Spring Conference & Expo 2004.

Stock Market Crash Of JupiterEvents has announced the following conferences and trade shows for the remainder of 2004:

Stock Investing For Beginner -- Jupiter Plug.IN Conference & Expo (July 26-27, New York, NY)

Finance Journal Personal -- Jupiter/ClickZ Advertising Forum Conference & Expo (July 28-29, New York, NY)

Stock Market Report -- Search Engine Strategies Conference & Expo 2004 (August 2-5, San Jose, CA)

Finance Investing Stock Market -- IT Service Management Forum Conference & Expo (Sept. 27-Oct. 2, Long Beach, CA)

Wall Street Journal Com -- Digital Rights Management Strategies (October 25 - 27, Los Angeles, CA)

Stock Market Investing Advice -- Search Engine Strategies Conference & Expo 2004 (October 27 - 28, Stockholm)

Street Trader Wall -- ISPCON Fall 2004 (November 2 - 5, Santa Clara, CA)

Indian Stock Market -- Inside ID Conference & Expo (November 15 - 17, Washington, D.C.)

Stock Investing Advice -- Wi-Fi Planet Conference & Expo Fall 2004 (November 30 - December 2, San Jose, CA)

Free Journal Street Wall -- Search Engine Strategies Conference & Expo 2004 (December 13 - 16, Chicago, IL)

Stock Market Information Jupitermedia Corporation
Consolidated Statements of Operations

Penny Stock Investing For the Three and Six Months Ended June 30, 2003 and 2004
(unaudited)
(in thousands, except per share amounts)

Stock Market Stock Three Months Six Months
Ended Ended
June 30, June 30,
----------------- -----------------
2003 2004 2003 2004
-------- -------- -------- --------
Revenues $10,220 $17,846 $18,465 $32,199
Cost of revenues 4,508 6,547 9,180 12,567
-------- -------- -------- --------

Stock Market Investing Basics Gross profit 5,712 11,299 9,285 19,632
-------- -------- -------- --------

Black Hoodies Street Wall Operating expenses:
Advertising, promotion and
selling 3,539 4,550 6,261 8,125
General and administrative 1,785 2,152 3,378 4,677
Depreciation 338 242 701 465
Amortization 256 722 496 1,117
-------- -------- -------- --------
Total operating expenses 5,918 7,666 10,836 14,384
-------- -------- -------- --------

Stock Market Trading Tip Operating income (loss) (206) 3,633 (1,551) 5,248

Stock Option Investing Income (loss) on investments and
other, net 54 105 (1) 119
Interest income 62 9 151 27
Interest expense - (56) - (62)
-------- -------- -------- --------

Small Cap Stock Investing Income (loss) before income
taxes, minority interests and
equity
loss from venture fund
investments and other, net (90) 3,691 (1,401) 5,332

Value Stock Investing Provision for income taxes - 140 - 140
Minority interests 6 (26) 10 (37)
Equity loss from venture fund
investments and other, net (27) (16) (50) (9)
-------- -------- -------- --------
Net income (loss) $(111) $3,509 $(1,441) $5,146
======== ======== ======== ========

Invest Stock Market Basic net income (loss) per share $(0.0) $0.13 $(0.6) $0.19
======== ======== ======== ========

Stock Investing System Basic weighted average number of
common shares outstanding 25,301 27,903 25,292 26,965
======== ======== ======== ========

How To Invest In The Stock Diluted net income (loss) per share $(0.0) $0.11 $(0.6) $0.17
======== ======== ======== ========

Beginner Investing Market Diluted weighted average number of
common shares outstanding 25,301 30,906 25,292 29,783
======== ======== ======== ========

Black Real Street Wall Segment Information

Bond Investing Stock The following tables summarize the results of the segments of Jupitermedia for the three and six months ended June 30, 2003 and 2004. Online media consists of the JupiterWeb business that includes the internet.com, EarthWeb.com, DevX.com and ClickZ.com Networks. Online images consists of the JupiterImages business that includes Comstock Images, Photos.com and ClipArt.com. Research represents the JupiterResearch business. Events represents the JupiterEvents business. Other includes corporate overhead, depreciation, amortization and venture fund related activities.

Stock Market Prices (unaudited) Three Months Six Months
(in thousands) Ended Ended
June 30, June 30,
----------------- -----------------
2003 2004 2003 2004
-------- -------- -------- --------
Revenues:
Online media $6,034 $8,002 $10,679 $15,221
Online images - 5,791 - 8,248
Research 2,157 2,201 4,433 4,543
Events 1,876 1,841 3,053 4,163
Other 153 11 300 24
-------- -------- -------- --------
$10,220 $17,846 $18,465 $32,199
-------- -------- -------- --------
Cost of revenues:
Online media $2,427 $2,867 $4,995 $5,770
Online images - 1,143 - 1,778
Research 1,208 1,318 2,722 2,554
Events 873 1,219 1,463 2,465
-------- -------- -------- --------
$4,508 $6,547 $9,180 $12,567
-------- -------- -------- --------
Gross profit
Online media $3,607 $5,135 $5,684 $9,451
Online images - 4,648 - 6,470
Research 949 883 1,711 1,989
Events 1,003 622 1,590 1,698
Other 153 11 300 24
-------- -------- -------- --------
$5,712 $11,299 $9,285 $19,632
-------- -------- -------- --------
Advertising, promotion and selling
Online media $1,461 $1,760 $2,747 $3,444
Online images - 1,237 - 1,556
Research 768 780 1,530 1,498
Events 1,310 773 1,984 1,627
-------- -------- -------- --------
$3,539 $4,550 $6,261 $8,125
-------- -------- -------- --------
General and administrative
Online media $170 $(186) $408 $234
Online images - 263 - 517
Research 301 177 612 374
Events 47 38 96 82
Other 1,267 1,860 2,262 3,470
-------- -------- -------- --------
$1,785 $2,152 $3,378 $4,677
-------- -------- -------- --------

Free Stock Investing Depreciation $338 $242 $701 $465
Amortization $256 $722 $496 $1,117

Analyst Street Wall Operating income (loss)
Online media $1,976 $3,561 $2,529 $5,773
Online images - 3,148 - 4,397
Research (120) (74) (431) 117
Events (354) (189) (490) (11)
Other (1,708) (2,813) (3,159) (5,028)
-------- -------- -------- --------
$(206) $3,633 $(1,551) $5,248
-------- -------- -------- --------

Stock Market Data Jupitermedia Corporation
Consolidated Balance Sheets

Gold Stock Investing December 31, 2003 and June 30, 2004
(in thousands, except share and per share amounts)

Street Wall Words December 31, June 30,
2003 2004
------------ ------------
(unaudited)
ASSETS

Stock Market Online Investing Current assets:
Cash and cash equivalents $9,567 $29,222
Accounts receivable, net of allowances
of $948 and $780, respectively 10,281 10,862
Unbilled accounts receivable 1,012 1,058
Prepaid expenses and other 2,124 2,350
------------ ------------
Total current assets 22,984 43,492

Direct Stock Investing Property and equipment, net of accumulated
depreciation of $8,674 and $8,927,
respectively 1,488 2,002
Intangible assets, net of accumulated
amortization of $3,204 and $4,321,
respectively 8,130 18,410
Goodwill 21,760 31,952
Investments and other assets 1,676 1,507
------------ ------------
Total assets $56,038 $97,363
============ ============

Stock Market Investing Guide LIABILITIES AND STOCKHOLDERS' EQUITY

Investing Growth Stock Current liabilities:
Accounts payable $1,494 $3,210
Accrued payroll and related expenses 2,482 2,029
Accrued expenses and other 4,151 4,677
Deferred revenues 9,211 11,101
------------ ------------
Total current liabilities 17,338 21,017

China Stock Market Long-term liabilities 341 283
Deferred tax liabilities - 103
------------ ------------
Total liabilities 17,679 21,403
------------ ------------

Christian Investing Stock Stockholders' equity:
Preferred stock, $.01 par value,
4,000,000 shares authorized, no shares
issued - -
Common stock, $.01 par value,
75,000,000 shares authorized,
25,984,130 and 31,032,035 shares
issued at December 31, 2003 and June
30, 2004, respectively 260 311
Additional paid-in capital 177,629 210,019
Accumulated deficit (139,427) (134,281)
Treasury stock, 65,000 shares at cost (106) (106)
Accumulated other comprehensive income 3 17
------------ ------------
Total stockholders' equity 38,359 75,960
------------ ------------
Total liabilities and stockholders'
equity $56,038 $97,363
============ ============

Stock Market Investing Jupitermedia Corporation
Consolidated Statements of Cash Flows

Choice From In Street Tough Six Months Ended June 30, 2003 and 2004
(unaudited)
(in thousands)

Stock Market Index Six Months Ended
June 30,
-----------------
2003 2004
-------- --------
Cash flows from operating activities:
Net income (loss) $(1,441) $5,146
Adjustments to reconcile net income (loss) to net
cash provided by operating activities:
Depreciation and amortization 1,197 1,582
Barter transactions, net (456) -
Provision for losses on accounts receivable 52 (144)
Minority interests (10) 37
Equity loss from venture fund investments and
other, net 50 9
(Income) loss on investments and other, net 1 (119)
Provision for income taxes - 37
Changes in current assets and liabilities (net of
businesses acquired):
Accounts receivable 1,667 322
Unbilled accounts receivable 147 (46)
Prepaid expenses and other (594) (267)
Accounts payable and accrued expenses (699) 1,408
Deferred revenues 575 1,855
-------- --------
Net cash provided by operating activities 489 9,820
-------- --------

Free Stock Market Quote Cash flows from investing activities:
Additions to property and equipment (147) (207)
Acquisitions of businesses and other (13,431) (22,917)
Distribution from internet.com venture funds - 148
Proceeds from sales of assets and other 54 135
-------- --------
Net cash used in investing activities (13,524) (22,841)
-------- --------

Investing In Stock Option Cash flows from financing activities:
Proceeds from issuance of common stock, net - 30,580
Borrowings under credit facilities - 13,000
Repayment of borrowings under credit facilities - (13,000)
Proceeds from exercise of stock options 103 2,096
-------- --------
Net cash provided by financing activities 103 32,676
-------- --------

Com Journal Street Wall Net increase (decrease) in cash and cash equivalents (12,932) 19,655
Cash and cash equivalents, beginning of period 25,451 9,567
-------- --------
Cash and cash equivalents, end of period $12,519 $29,222
======== ========

How Made In The Stock Market Supplemental disclosures of cash flow:
Cash paid for income taxes $- $-
======== ========
Cash paid for interest $- $62
======== ========

Bonus Street Wall Business Outlook

Investing Market Stock Jupitermedia's financial guidance is prepared in accordance with accounting principles generally accepted in the United States of America. Historical results below have been adjusted to conform to this presentation. The amounts below reflect the preliminary allocation of the purchase prices paid by Jupitermedia in connection with its recent acquisitions of DevX, Comstock Images and Thinkstock Images, and are subject to change pending a final allocation of these amounts. The following forward-looking statements reflect Jupitermedia's expectations as of August 4, 2004. Due to potential changes in general economic conditions and the various other risk factors discussed below and in Jupitermedia's reports filed with the Securities and Exchange Commission from time to time, actual results may differ materially. Jupitermedia intends to continue its practice of not updating forward-looking statements until its next quarterly results announcement, other than in publicly available statements

Stock Trading Investing Future Expectations

Stock Market History Actual Actual Actual
Total 2003 Q1 2004 Q2 2004
------------ ------------ ------------
(in millions, except per share amounts)

Stock Investing Research
Revenues $47.0 $14.4 $17.8

Article Journal Street Wall
Cost of revenues, advertising,
promotion & selling, and G & A
expenses $42.8 $12.2 $13.3

World Stock Market Depreciation and amortization $2.8 $0.6 $1.0
Interest income, net $0.2 $0.0 $0.0
Other income $0.2 $0.0 $0.1
Income taxes $0.0 $0.0 $0.1
Net income $1.4 $1.6 $3.5
Diluted share count 26.9 29.5 31.0

Stock Investing Newsletter Earnings per diluted share $0.05 $0.06 $0.11

Journal Online Street System
Q3 2004 Q4 2004 Total 2004
------------ ------------ ------------
(in millions, except per share amounts)

Stock Market Ticker
Revenues $18.0-19.0 $19.0-20.0 $69.2-71.2

Archive Journal Street Wall
Cost of revenues, advertising,
promotion & selling, and G & A
expenses $13.2-14.2 $13.3-14.3 $52.0-54.0

Stock Market For Dummy Depreciation and amortization $1.1 $1.2 $3.9
Interest income, net $0.1 $0.1 $0.2
Other income $0.0 $0.0 $0.1
Income taxes $0.1 $0.1 $0.3
Net income $3.7 $4.5 $13.3
Diluted share count 34.3 34.6 32.4

Investing Stock Uk Earnings per diluted share $0.11 $0.13 $0.41

Us Stock Market About Jupitermedia Corporation

Preferred Stock Investing Jupitermedia Corporation (Nasdaq: JUPM) (www.jupitermedia.com), headquartered in Darien, CT, is a leading global provider of original information, images, research and events for information technology, business and creative professionals. JupiterWeb, the online division of Jupitermedia, operates four distinct online networks: internet.com and EarthWeb.com for IT and business professionals; DevX.com for developers; and ClickZ.com for interactive marketers. JupiterWeb properties include more than 150 Web sites and over 150 e-mail newsletters that are viewed by approximately 20 million users and generate approximately 300 million page views monthly. Jupitermedia also includes: JupiterImages, one of the leading images companies in the world with over 3.5 million images online serving creative professionals with products like Comstock Images, Thinkstock Images, Photos.com and ClipArt.com; JupiterResearch, a leading international research advisory organization specializing in business and technology market research in 18 business areas and 14 vertical markets; and JupiterEvents, which produces offline conferences and trade shows focused on IT and business-specific topics, including Search Engine Strategies and Wi-Fi Planet.

Stock Market Timing "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release which are not historical facts are "forward-looking statements" that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The potential risks and uncertainties address a variety of subjects including, for example, the competitive environment in which Jupitermedia competes; the unpredictability of Jupitermedia's future revenues, expenses, cash flows and stock price; Jupitermedia's ability to integrate acquired businesses, products and personnel into its existing businesses; Jupitermedia's dependence on a limited number of advertisers; and Jupitermedia's ability to protect its intellectual property. For a more detailed discussion of such risks and uncertainties, refer to Jupitermedia's reports filed with the Securities and Exchange Commission pursuant to the Securities Act of 1933 and the Securities Exchange Act of 1934. The forward-looking statements included herein are made as of the date of this press release, and Jupitermedia assumes no obligation to update the forward-looking statements after the date hereof.

Investing At Stock Market All current Jupitermedia Corporation press releases can be found on the World Wide Web at http://www.jupitermedia.com/corporate/press.html

Guide Journal Street Wall Contacts

Stock Market Holidays
Jupitermedia Corporation
Marketing and Public Relations Associate
Lisa DiGiacomo, 212-547-7939
ldigiacomo@jupitermedia.com

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