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Data: 06-12-2004 14:28
Company News
CMGI
CMGI, Inc. NASDAQ-NM
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CMGI Reports 1Q Loss, But Revenue More Than Doubles
WALTHAM, Mass. (Dow Jones)--Supply chain management company CMGI Inc. (CMGI) reported a fiscal first-quarter loss, although revenue more than doubled.
In a press release Monday, the company reported a net loss for the quarter ended Oct. 31 of $553,000, or nil per share, compared to income of $29.8 million, or 7 cents a share, in the year-earlier period.
The year-earlier net income included about $4 million in restructuring charges, and a $40.5 million gain on the sale of about 3.2 million shares of Overture Services (OVER) common stock.
CMGI reported operating income of $2.4 million for the quarter, compared to an operating loss of $7.1 million in the year-earlier period.
Revenue rose to $257.1 million from $94.9 million a year earlier.
In August, the company completed its acquisition of Modus Media Inc. When the deal was first announced, CMGI said the transaction was expected to add to operating profit and net income excluding restructuring charges.
CMGI's shares were recently up 12 cents, or 6.4%, to $2, on Nasdaq volume of 20.5 million, compared with average daily volume of 4.3 million.
CMGI Inc. -- Waltham, Mass
1st Quar Oct 31:
2004 2003
Revenue $257,126,000 $94,888,000
Inc cont op (553,000) 30,352,000
Inc dis op .... (491,000)
Net income (553,000) 29,861,000
Avg shrs (diluted) 469,720,000 402,535,000
Shr earns
Inc cont op .... .07
Inc dis op .... ....
Net income .... .07
Figures in parentheses are losses.
Company Web site: http://www.cmgi.com
-By Will Daley, Dow Jones Newswires; 201-938-5400
Dow Jones Newswires
12-06-041418ET
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