10 10
e DACWeb 11 Google Keyword Search $2.5Billion2003 IABInteractive Advertising Bureau Google Nasdaq 2004/7 520 2004/10 490 2004/10 Omnicom Group 150 2004/10 3.5 12 13 11
DAGMAR 14 1520% 12
15 Media Representative 16 AORAgency of Record 13
03 00 03/4Q04/1Q 14
( 04/3) 04/3 17 EV(Enterprise Value ) EBITDAEarning Before Interest, Taxes, Depreciation and Amortization EV/EBITDA 18 EBITDA 1015 PER PBR PBR1 EBITDA 15
4 19 CM CM CM CM 16
CM CM 20 2002/10 21 Electric Program Guide 17
22 2004 10 23 24 5 Qualcomm 3G 2004/11 25 26 GRP 18
27 5 5545 28 19
29 CATV 3 3 29.0 42.4 28.5 3 http://www.cabletvadbureau.com 20