Jupiter Media Metrix Sees $396M Third Quarter Loss

Share this content:
Jupiter Media Metrix Inc. said yesterday that its net loss for the third quarter rose to $396.2 million, or $11.16 per share, from $10.1 million, or 47 cents per share, a year earlier.

In the third quarter the company reported a one-time charge of $34 million related to the restructuring of its business operations and event cancellation penalties. It also recorded a non-cash charge of $320 million related to the write down of goodwill associated with its acquisition of Jupiter Communications a year ago. Goodwill is the amount paid in excess of the purchase price over the fair market value in an acquisition.

The ratings company reported total revenue for the third quarter of $19.9 million, up from $16.5 million a year ago. Its measurement business reported revenue of $9.6 million, down from $13.9 million in the third quarter of 2000. Research services revenue in the third quarter rose to just over $9 million, from $1.2 million a year earlier. Revenue from Jupiter Media Metrix's events business rose to $1.3 million from $557,000 a year ago.

Total operating expenses rose substantially in the third quarter to $405.2 million from $23.9 million in 2000. The company reported a loss from operations of $395.6 million in the quarter, up from $12.3 million a year ago.

On Oct. 25 NetRatings Inc. said it would acquire Jupiter Media Metrix in a deal worth about $71.2 million. The transaction, expected to close in the first quarter, calls for Jupiter stockholders to receive either 0.1490 NetRatings shares or $1.95 in cash for each of their Jupiter shares. NetRatings also has agreed to lend Jupiter up to $25 million under a secured credit facility that Jupiter will use to replace a standby letter of credit that it has with Jupiter chairman Tod Johnson.


Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

USAData helps businesses find new customers and grow their current customers through a combination of data and digital marketing services, and easy-to-use SaaS technology products. We enrich customer data so businesses can more effectively target and communicate with customers, and connect them with their best look-alike prospects through digital and traditional channels. We make it easy through simple, self-serve applications and APIs, as well as through full-service programs managed by our Data and Digital experts. 

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above