CMGI Drops on Loss
Internet holding company CMGI (CMGI) was down 7.6% in preopen Island trading.
After the close Tuesday the company posted a third-quarter loss of $2.80 a share, wider than the year-earlier loss of $1.53 a share.
The company reported revenue of $301 million, up 29% from the same quarter a year ago. CMGI also projected fourth-quarter revenue of $280 million to $290 million and a fiscal 2002 operating loss of $120 million to $130 million.
CMGI said it is exploring a possible sale of
NaviPath
to reduce its losses.
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