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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Rob29 who wrote (8012)	5/7/1999 12:22:00 PM
From: Mark Peterson CPA	Respond to of 19700

Already figured in: CMGI <CMGI.O> restates earnings =2 "In connection with SEC guidelines, the company's annual report on Form 10K for the year ended July 31, 1998, and the quarterly reports on Form 10-Q for the third quarter of fiscal year 1998 and first and second quarters of fiscal year 1999 will be amended and restated to reflect these changes," the statement said. Analysts said the restatements had little effect on the long-term outlook for CMGI, which has investments in dozens of Internet-related companies. "It means nothing, absolutely nothing," said Ken Winston, an analyst with Needham and Co. in Boston. "It had to do with Lycos' restatements for R&D, and CMGI had to do the same thing. It has no relevance on the value of (CMGI) or the forward financials of the company." Shares of CMGI had been up as much as $12 before the restatement news, above $239. They fell sharply following the announcement, touching a low of $216, but quickly recovered. The shares were up $3.75 to $230.875 in late-morning trade. REUTERS Rtr 12:07 05-07-99

To: Rob29 who wrote (8012)	5/7/1999 12:24:00 PM
From: JavaGuy	Respond to of 19700

I don't know about Mark, But I'd rather see CMGI only pull rev's when they want to make another cash investment. CMGI should never be valued on revenues, only on its equity investments. I actually hate to see CMGI sit on cash,it does nothing for the value of our stock. Keep this in mind when the inevitable "CMGI will blow away earnings!" talk starts. If they earn a buck next quarter, I'll be pissed, I'd rather see $.05 JavaGuy

To: Rob29 who wrote (8012)	5/7/1999 12:24:00 PM
From: stock_bull69	Respond to of 19700

This link gives more information regarding CMGI restating earnings for the last 4 quarters: biz.yahoo.com Don't think it will have much impact on today's action. Steve

To: Rob29 who wrote (8012)	5/7/1999 2:02:00 PM
From: bundashus	Read Replies (1) \| Respond to of 19700

He is the news release Friday May 7, 12:07 pm Eastern Time CMGI restates earnings for last four qtrs ANDOVER, Mass., May 7 (Reuters) - CMGI Inc. said Friday it was restating its earnings for the last four fiscal quarters because of a review of research charges. The company, which develops and runs Internet and direct-marketing companies, said the restatement stemmed from a review of acquisition-related charges, including the impact of adjustments made to in-process research and development charges by Lycos Inc. (LCOS - news). CMGI is a major stockholder in Lycos. The restatement also comprises the in-process research and development charge recorded in the third quarter of fiscal year 1998 in conjunction with CMGI's acquisition of Accipiter Inc. The Lycos- and Accipiter-related restatement in the third quarter of fiscal 1998, ended April 30, 1998, resulted in net earnings of $7.9 million, or $0.17 per diluted share. Originally, CMGI reported a loss of $11.7 million, or $0.27 per diluted share, for the period. For the fourth quarter of fiscal 1998, ended July 31, 1998, net income was restated downward to $27.1 million, or $0.55 per diluted share, from $31.4 million, or $0.64 per share. For the first quarter of fiscal 1999, ended Oct. 31, 1998, net income was restated downward to $38.3 million, or $0.77 per diluted share, from $38.6 million, or $0.77 per share. For the second quarter of fiscal 1999, ended Jan. 31, net income was restated downward to $13 million, or $0.25 per diluted share, from $14.1 million, or $0.28 per share. ''In connection with SEC guidelines, the company's annual report on Form 10K for the year ended July 31, 1998, and the quarterly reports on Form 10-Q for the third quarter of fiscal year 1998 and first and second quarters of fiscal year 1999 will be amended and restated to reflect these changes,'' the statement said. Analysts said the restatements had little effect on the long-term outlook for CMGI, which has investments in dozens of Internet-related companies. ''It means nothing, absolutely nothing,'' said Ken Winston, an analyst with Needham and Co. in Boston. ''It had to do with Lycos' restatements for R&D, and CMGI had to do the same thing. It has no relevance on the value of (CMGI) or the forward financials of the company.'' Shares of CMGI had been up as much as $12 before the restatement news, above $239. They fell sharply following the announcement, touching a low of $216, but quickly recovered. The shares were up $3.75 to $230.875 in late-morning trade.