L.L. Knickerbocker’s Shares Jump After Web Ad News
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L.L. Knickerbocker Co. said Tuesday that it has extended its advertising contracts into 1999 with America Online Inc. and Yahoo Inc. as it seeks to increase its Internet sales.
Terms weren’t disclosed, but the news sent shares of the Lake Forest maker of collectible dolls and jewelry 28% higher.
Knickerbocker, which had 1997 sales of $68.3 million, said about 11% of its World Wide Web site audience is generated from America Online, while 9% of its audience is generated from Yahoo. The company said it had 763,500 hits on its Web site in June, up from 48,607 a year earlier.
“The Internet is a key marketing tool for the company,” said Robert West, Knickerbocker’s chief operating officer. “It gives additional credence to the company’s ability to market products.”
Knickerbocker has six offices and about 600 employees.
In Nasdaq trading Tuesday, Knickerbocker shares rose 78 cents, to $3.53, on volume of 3.2 million shares, more than 22 times the three-month daily average. Earlier in the day, the shares reached $4.75.
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