E-centives Lowers Losses; Business-Building Continues
The Bethesda, MD, company posted a net loss of $9.1 million on revenue of $2.4 million for the three months ended Sept. 30. Net loss for the nine months ended Sept. 30 was $26.5 million on revenue of $3.9 million.
An aggressive expense reduction program has helped trim quarter-to-quarter losses. The company in July sacked 23 staffers, or 14 percent of its workforce, and restructured vendor and supplier contracts.
Other initiatives also helped e-centives, such as support by its e-commerce and merchandising services since August for Vizzavi's portals in Britain.
That arrangement will soon extend to The Netherlands, where Dutch users of Vizzavi will be able to compare prices across thousands of SKUs and buy them from a variety of merchants.
Clients for e-centives' outsourced e-mail marketing solutions have increased too. New additions include CatalogCity.com owner Altura International, Frederick's of Hollywood and iMedia.
Members continue to sign on as well. As of Sept. 30, e-centives had 12.5 million members, a 9 percent jump from 11.5 million as of June 30.