e4L Inc., an Internet and infomercial marketer based in Los Angeles, reported a net loss of $19.6 million for the quarter ended March 31, a drop from a $9.5 million loss for the same period the year before.
Net revenue for the period was $44.8 million, a 40.2%. decrease from $74.9 million for the three months ended March 31, 1999
The company attributed its net loss to a $7.5 million write-off associated with its television production facility, a $5.9 million write-off associated with the sublease of a satellite transponder. Further losses stemmed from the losses of Buyitnow.com LLC of $4.4 million, in which e4L previously held a 41% equity interest.
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