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Revenue Grows at CMGI

Income before items improves.
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Investors bid up shares of CMGI (CMGI) after the company said fourth-quarter revenue and operating earnings rose from a year earlier.

The stock was recently up 13 cents, or 12%, to $1.20 on volume of more than 18 million shares; average daily volume is 3.6 million shares.

The business management services provider said Friday that its loss widened to $2.55 million, or a penny a share, from $274,000 or about break-even EPS, a year earlier.

The decline in net income was primarily attributable to a $7.4 million loss from discontinued operations, related to its selling marketing distribution services business, CMGI said. Excluding that and other items, operating income more than doubled to $7.6 million from $3.1 million a year earlier.

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Revenue rose 6% to $261.9 million.