Mail.com Inc., New York, a global provider of Internet messaging services to the business and consumer markets, has reported fourth-quarter revenue ended Dec. 31 increased 510% to a record $6.1 million from $1.0 million in the comparable quarter a year ago.
Revenue for the fourth quarter rose 83% over 1999 third-quarter revenue of $3.4 million. The company also reported that it achieved positive gross margin in the fourth quarter, which is one quarter ahead of analyst consensus projections.
The company attributes the revenue growth in part to its rapid expansion into the business messaging market. Business messaging revenues represented approximately 20% of revenue in the fourth quarter. With Tuesday’s close of the NetMoves acquisition, Mail.com expects business messaging revenue to exceed 50% of total revenues in 2000.
The company also reported a pro-forma net loss, which excludes gains on the sale of securities, non-operating charges and other non-cash charges, of $16.3 million. This compares to a pro-forma net loss of $6.8 million for the same quarter a year ago. Actual net loss for the fourth quarter was $16.0 million. Included in the fourth-quarter net loss is a net gain from the sale of investments of approximately $5.5 million.
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