As advertising revenues plummet across North America, Toronto-based Cyberplex Inc. is bucking the trend with its performance-based web advertising division. The division grew by over 300%, generating $52.2 million in revenue in its fiscal year ending Dec. 31. Total revenue for the year was $57.3 million, an increase of 225% over the $17.7 million reported for 2007. Income for the year was $5.8 million compared to a loss of $1.1 million in 2007. Total revenue for the fourth quarter ending Dec. 31 was $28.9 million, an increase of 429% over the $5.5 million reported for fourth quarter of 2007. It’s been the best quarter ever for the company. “We performed exceptionally well throughout 2008 and continue to believe that our focus on 'pay for performance' is a powerful alternative to historical online advertising pricing models, especially during these tough market conditions,” president and CEO Geoffrey Rotstein said in a release. The company predicts the movement of ad dollars from traditional media to online web-based platforms will more than double in 2009.“Although business conditions in North America have been difficult and are predicted to remain difficult throughout 2009, and no company, regardless of industry, should feel as though they are insulated from these difficult conditions, we are confident in our business model and our ability to execute on our plans. We are excited about the opportunities thatwe see ahead of us,” added Rotstein.