drkoop.com Announces Strong Revenue Growth for the 1999 Third Quarter
- Revenue Increased 186 % to $2.9 Million - - Page Views Increased 46% to 40.4 Million - - Hospital Clients Increased 100% to 30 -
AUSTIN, Texas, Oct. 19 /PRNewswire/ -- drkoop.com, Inc. (Nasdaq: KOOP - news) today announced operating and financial results for the quarter and nine months ended September 30, 1999.
Total revenue for the third quarter ended September 30, 1999 nearly tripled from $1 million in the 1999 second quarter to $2.9 million, reflecting drkoop.com's accelerating momentum and substantial growth within the online health information market. For the first nine-months of 1999, total revenue reached $4.3 million. The Company's strong revenue growth was fueled by drkoop.com's increasing advertiser base, significant Community Partner demand and the expansion of certain sponsorship agreements.
Loss attributable to common stockholders for the third quarter and first nine months of the year was $20.6 million and $62.7 million, respectively. Corresponding net loss per share for the two periods was $0.68 and $2.06, excluding accretion of redeemable securities and accrued dividend to preferred stockholders.
Donald W. Hackett, president and chief executive officer, commented, ''drkoop.com continues to strengthen its position as the leading consumer-focused Internet healthcare network. During the quarter, we generated substantial traffic and attracted a growing number of registered users and advertisers, which reflects the viability and strength of our business strategy. Additionally, our expanded agreements with DrugEmporium.com and lifescape.com further demonstrate the value drkoop.com provides to both consumers and our customers.''
During the quarter, drkoop.com continued to experience strong growth in key metrics:
Third quarter page views increased 46% to 40.4 million, from 27.7 million reported last quarter.
Unique visitors increased 35% to 8.7 million, from 6.5 million in the second quarter.
Registered users increased 77% to 580,000, compared with the 328,000 registered users as of the end of the second quarter.
drkoop.com's Community Partner Program experienced significant growth in the third quarter, more than doubling the number of partners from 14 to 30. The Community Partner Program is now comprised of 298 healthcare facilities.
drkoop.com's advertising base continued to expand, totaling 32 advertisers at the end of the quarter.
Mr. Hackett continued, ''We are pleased with the continued progress and results of our strategic agreements with America Online and the GO! Network. drkoop.com content has now been integrated across all five AOL properties and the redesign of the GO! Health Center has resulted in tripling the content pages available on the co-branded site. As a result, we are experiencing strong demand among advertisers and e-commerce stores for placements on our Network.''
''drkoop.com is well positioned to continue its rapid development and expansion,'' Mr. Hackett concluded. ''Our strategic initiatives and partnerships have enabled the Company to achieve critical mass and establish a strong, widespread distribution network. Looking ahead, we remain focused on attracting and retaining loyal users, building key industry relationships and accelerating our revenue growth in all segments of our business,'' Mr. Hackett added |
