full report....
03/09 16:18 10 CMGI Announces Record Second Quarter Revenues of $153.5
Million; <CMGI.O>
10 CMGI Announces Record Second Quarter Revenues of $153.5 Million; Internet Segment
Revenues Grow 2,251% over Prior Year Second Quarter and 35% over Preceding Quarter
ANDOVER, Mass.--(BUSINESS WIRE)--March 9, 2000--
Summary:
Operating revenues grow 294% over prior year second quarter and
24% over Q1 2000
Company continues to build successful Internet operating model with completion of nine
acquisitions; with an additional four new
acquisitions post-quarter end
Secures partnerships for wireless and broadband delivery of
CMGI-affiliated services
Initiates strategic international operating and venture partnerships to extend global reach of
CMGI network
CMGI, Inc. (NASDAQ: CMGI) today reported net revenues of $153.5 million for the second
quarter ended January 31, 2000, a 24% sequential increase in quarterly revenues and a 294%
increase compared with last year's second quarter. Net revenues for the Company's Internet
business segment increased 2,251% compared with the second quarter of fiscal 1999, and
increased 35% compared with the first quarter of fiscal 2000. Net revenues for the Company's
fulfillment services segment increased 12% compared with the second quarter of fiscal 1999,
and remained essentially flat compared with the first quarter of fiscal 2000.
CMGI's net loss was $186 million or ($0.74) basic loss per share for the quarter, compared to a
net loss of $117 million or $(0.54) basic loss per share for the previous quarter ended October
31, 1999. Excluding the effects of one-time in process research and development charges and
amortization of intangible assets and stock - based compensation charges in both periods,
CMGI's net income was $1.3 million or $0.01 basic income per share for the quarter, compared
to a net loss of $6.8 million or $(0.05) basic loss per share for the previous quarter ended
October 31, 1999.
Second quarter fiscal 2000 results included the impact of nine acquisitions, pre-tax gains of
$159.7 million on the sale of Yahoo! common stock and $5.8 million on the sale of Open Market
common stock classified as "other gains, net," and a pre-tax gain of $5.5 million on issuance of
stock by NaviSite, Inc. as a result of the exercise of the underwriters' over-allotment option in
its initial public offering. First quarter fiscal 2000 results included pre-tax gains of $46.4 million
on issuance of stock by NaviSite, Inc. in its initial public offering and $48.3 million on the sale of
Yahoo! common stock, classified as "other gains, net." Excluding the effects of one time
in-process research and development and amortization of intangible assets and stock - based
compensation charges, CMGI's second quarter operating expenses for continuing operations
were $307 million, reflecting a 34% increase from the first quarter of fiscal 2000 and a 424%
increase from last year's second quarter.
In the second quarter, CMGI launched its newest majority-owned operating company, CMGI
Solutions, Inc., dedicated to providing end-to-end e-business solutions for the enterprise. By
leveraging the CMGI network of technology resources and its management expertise, CMGI
Solutions will offer the first turn-key, end-to-end Internet business solution to Global 2000
companies. |
