CMGI Inc. reported net revenue of $342.7 million for the second quarter ended January 31, 2001, a 116% increase compared with the second quarter of fiscal 2000.
Compared with the like quarter last year, net revenue for the company’s eBusiness and Fulfillment segment increased 239%, for the Internet Professional Services segment it increased 1,072%, and for the Infrastructure and Enabling Technologies segment it increased 192%.
But for the company’s Search and Portals segment, net revenue decreased 2% compared with the second quarter of fiscal 2000. Net revenue for the company’s Interactive Marketing segment increased 10%.
The company’s net loss was $2.562 billion compared to a net loss of $636.6 million for the previous quarter ended October 31, 2000. First-quarter fiscal 2001 results included intangible asset impairment charges of $69.6 million, amortization charges of $582.5 million and restructuring charges of $8.8 million.
A company statement said strides were being made in restructuring, focusing on core competencies and business platforms that would build a strong base. During the quarter, the company ended its association with subsidiaries iCAST and 1stUp.com. It also plans to cast off the online payment subsidiary ExchangePath. CMGI is exploring strategic alternatives for two additional subsidiaries, Activate and AdForce.
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