MessageMedia's Net Loss for 2000 Nearly Doubles
For the fourth quarter, the Superior, CO-based company said its loss rose to $30.4 million, or a loss of 54 cents per share, from $19.3 million in the same quarter a year earlier. For the full year, MessageMedia said its net loss rose to $88.1 million, or a loss of $1.57 per share, from $46.2 million in 1999.
However, the company's net revenue for the fourth quarter nearly doubled to $8 million, from $4.9 million in 1999. For the full year, MessageMedia's net revenue rose to $33.6 million, from $10 million in 1999.
The company said its revenue from traditional messaging clients rose 10 percent in the fourth quarter but was offset by a slowdown in several dot-com clients. It said that in the fourth quarter it added 56 outsourced and hosted clients and 14 software licensees. MessageMedia now has 340 messaging clients and more than 300 software accounts on maintenance contracts.
The company also said that its largest clients represent nearly 8 percent of its total revenue and that its top 10 clients represent nearly 40 percent of total revenue. It sent more than 475 million messages in the fourth quarter of 2000.
MessageMedia said it expects its revenue in 2001 to grow between 20 percent and 25 percent. For the first quarter, it expects revenue to grow between 5 percent and 10 percent.
The company also said it named William Buchholz chief financial officer.