ClickAction's 3Q Revenue Drops 35 Percent

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E-mail marketer ClickAction Inc. said yesterday that its total third-quarter revenue decreased 35 percent from last year's third quarter.


ClickAction's revenue was $2.4 million, down from $3.6 million last year. The figure excludes discontinued operations as a result of the sale of the Elibrium division in the second quarter of 2001.


The net loss from continuing operations for the third quarter was $2.3 million, or 18 cents per share, excluding restructuring and impairment charges of $4.8 million. This compares with a net loss from continuing operations of $2.2 million, or 18 cents per share, for third-quarter 2000.


For the nine months ended Sept. 30, 2001, ClickAction's total revenue was $12.8 million, up 98 percent from $6.5 million in the same period last year, excluding discontinued operations.


The net loss from continuing operations, excluding restructuring and impairment charges, for the nine months ended Sept. 30 was $3.2 million, or 25 cents per share. This compares with a net loss from continuing operations of $8.2 million, or 71 cents per share, for that period last year. Continuing operations represent businesses that were not part of the Elibrium division.


As of Sept. 30, ClickAction had about $3 million in cash and cash equivalents, a $1.5 million note receivable and $2.4 million in net accounts receivable. ClickAction said it expects to have adequate cash flow to reach profitability in 2002.


"During the third quarter of 2001, ClickAction experienced a heightened interest and significant growth in our current ASP business," said George Grant, president/CEO. "Recently, we have signed with some very large companies, including Columbia House, a leading global publisher of consumer entertainment and a leading global telecommunications company. We have also renewed contracts with our major publishing and retail clients."


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