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Strategies & Market Trends : The Thread Formerly Known as No Rest For The Wicked -- Ignore unavailable to you. Want to Upgrade?

To: JeffA who wrote (50680)	6/10/1999 4:51:00 PM
From: BRANDYBGOOD	Respond to of 90042

UH oh. CMGI reported. -.30 vs -.16 Yuck! (BSNS WIRE) CMGI Announces Third Quarter Financial Results; Revenues Inc CMGI Announces Third Quarter Financial Results; Revenues Increase 141% Compared with Prior Year Third Quarter Business/Technology Editors ANDOVER, Mass.--(BUSINESS WIRE)--June 10, 1999-- Internet-Focused Investment and Development Segment Revenues Grow 116% Over Second Quarter CMGI, Inc. (NASDAQ:CMGI) today reported net revenues of $43.7 million for its third quarter ended April 30, 1999, a 12% sequential increase in quarterly revenues and a 141% increase compared with last year's third quarter. Net revenues for the Company's Internet-focused investment and development business segment increased 381% compared with the third quarter of fiscal 1998, and increased 116% compared with the second quarter of fiscal 1999. Net revenues for the Company's fulfillment services segment increased 107% compared with the third quarter of fiscal 1998, and decreased 3% compared with the second quarter of fiscal 1999. CMGI reported a net loss of $27.8 million or ($0.30) basic loss per share for the quarter, compared to net income of $13 million or $0.14 basic income per share for the previous quarter ended January 31, 1999. Third quarter fiscal 1999 results included a pre-tax gain of $859,000 on issuance of stock by GeoCities and a one-time in-process research and development charge of $4.5 million related to the acquisition of Internet Profiles Corporation (I/PRO). Second quarter fiscal 1999 results included pre-tax gains of $43.6 million on the sale of Lycos stock, $7 million on the sale of Amazon.com stock, and $4.4 million on issuance of stock by GeoCities. As a result of the Company's decision to sell its CMG Direct business unit to Marketing Services Group, Inc. (MSGI), the results of the Company's list and database services segment are reflected as discontinued operations for all periods presented. CMGI's third quarter operating expenses for continuing operations of $77.7 million, reflect a 29% increase from the second quarter of fiscal 1999 and a 87% increase from last year's third quarter. During the Company's third fiscal quarter, CMGI completed the acquisitions of IPRO, 2CAN Media (2CAN) and Activerse, and exercised its right to increase its ownership in Magnitude Network from 23% to 92%. The operations of IPRO have been integrated with the Company's Engage Technologies subsidiary and 2CAN has been integrated with CMGI's ADSmart subsidiary. Subsequent to quarter end, CMGI successfully completed the acquisition of Nascent Technologies, Inc. During the third quarter, CMGI, through it's limited liability company subsidiaries, CMG@Ventures II, LLC and CMG@Ventures III, LLC invested in ten Internet start - up companies, including: