SkyMall Inc., Phoenix, AZ, had first-quarter 1999 revenue of $13.1 million, virtually unchanged from $13.2 million in first-quarter 1998. The company had a net loss of $2.1 million, as opposed to net income $74,000 a year earlier.
In a statement, the company said that its stagnant revenue was the result of shifting agreements with its merchants from fixed-fee contracts to variable compensation.
The company attributed its net loss to a previously announced investment in its e-commerce business. The company’s e-commerce business tripled from first-quarter 1998.
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