يتبع:
As of April 30, 2005, CMGI had consolidated cash, cash equivalents and marketable securities of $187.1 million, versus consolidated cash, cash equivalents and marketable securities of $188.6 million at the end of the prior quarter.
Conference Call Scheduled for June 6th
CMGI will hold a conference call to discuss its fiscal 2005 third quarter results at 5:00 PM Eastern Time on June 6, 2005. Investors can listen to the conference call on the Internet at
www.cmgi.com/investor. To listen to the live call, go to the Web site at least 15 minutes prior to the start time to download and install the necessary audio software.
About CMGI
CMGI, Inc. (Nasdaq: CMGI), through its subsidiary, ModusLink, provides technology and products solutions that help businesses market, sell and distribute their products and services. In addition, CMGI's venture capital affiliate, @Ventures, invests in a variety of technology ventures. For additional information, see
www.cmgi.com.
This release contains forward-looking statements, which address a variety of subjects including, for example, the expected benefits of the Modus Media acquisition, our integration efforts and our investments in ModusLink, and the development and implementation of business strategies in our target markets and through our venture capital affiliate. All statements other than statements of historical fact, including without limitation, those with respect to CMGI's goals, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: CMGI's success, including its ability to improve its cash position, expand its operations and revenues and sustain profitability, depends on its ability to execute on its business strategy and the continued and increased demand for and market acceptance of its products and services; the possibility that expected benefits of the Modus Media acquisition or the financial forecasts of CMGI following the Modus Media acquisition may not be achieved, due to problems or unexpected costs that may arise in successfully integrating the Modus Media business or an inability to realize expected synergies or make expected future investments in the combined businesses; CMGI's management may face strain on managerial and operational resources as they try to oversee the expanded operations; CMGI may not be able to expand its operations in accordance with its business strategy; CMGI's cash balances may not be sufficient to allow CMGI to meet all of its business and investment goals; CMGI may experience difficulties integrating technologies, operations and personnel in accordance with its business strategy; CMGI derives a significant portion of its revenue from a small number of customers and the loss of any of those customers would significantly damage CMGI's financial condition and results of operations; and increased competition and technological changes in the markets in which CMGI competes. In addition, from time to time management may present unaudited pro forma combined financial results of CMGI and Modus Media for historical perspective. Such pro forma information is not necessarily indicative of financial results that could have occurred, nor necessarily indicative of financial results that may be expected in the future. Such pro forma financial information should be read in conjunction with the Company's financial results prepared in accordance with US GAAP. For a detailed discussion of cautionary statements that may affect CMGI's future results of operations and financial results, please refer to CMGI's filings with the Securities and Exchange Commission, including CMGI's most recent Quarterly Report on Form 10-Q. Forward-looking statements represent management's current expectations and are inherently uncertain. We do not undertake any obligation to update forward-looking statements made by us.
CMGI, Inc. and Subsidiaries
Condensed Consolidated Statements of Operations
(In thousands, except per share amounts)
(Unaudited)
Three months ended Nine months ended
April January April April April
30, 31, 30, 30, 30,
2005 2005 2004 2005 2004
-------- -------- -------- -------- --------
Net revenue $265,667 $295,724 $105,789 $818,517 $300,956
Operating expenses:
Cost of revenue 237,921 257,704 100,352 721,100 281,901
Selling 4,795 5,425 1,365 15,770 3,572
General and
administrative 21,018 19,726 7,641 60,223 28,063
Amortization of
intangible
assets and
stock-based
compensation 2,405 3,063 72 8,320 262
Restructuring,
net 1,472 977 2,811 3,785 5,566
-------- -------- -------- -------- --------
Total
operating
expenses 267,611 286,895 112,241 809,198 319,364
-------- -------- -------- -------- --------
Operating income
(loss) (1,944) 8,829 (6,452) 9,319 (18,408)
Other income
(expenses):
Other gains
(losses), net (10) (1,158) 1,323 (2,613) 45,083
Minority interest (4) - 76 (1) (2,118)
Equity in income
(losses) of
affiliates, net (338) 303 (693) (261) (1,571)
Interest income 1,206 877 799 2,713 2,821
Interest expense (394) (595) (451) (1,412) (1,227)
-------- -------- -------- -------- --------
Total 460 (573) 1,054 (1,574) 42,988
-------- -------- -------- -------- --------
Income (loss) from
continuing
operations before
income taxes (1,484) 8,256 (5,398) 7,745 24,580
Income tax expense
(benefit) (23,099) 1,020 (74,739) (20,553) (70,181)
-------- -------- -------- -------- --------
Income from
continuing
operations 21,615 7,236 69,341 28,298 94,761
Discontinued
operations, net of
income taxes:
Income (loss) from
discontinued
operations (2,047) - 61 (2,047) (984)
-------- -------- -------- -------- --------
Net income $ 19,568 $ 7,236 $ 69,402 $ 26,251 $ 93,777
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Basic earnings
(loss) per share:
Earnings from
continuing
operations $ 0.04 $ 0.02 $ 0.17 $ 0.06 $ 0.24
Income (loss) from
discontinued
operations $ (0.00) $ - $ 0.00 $ (0.00) $ (0.00)
-------- -------- -------- -------- --------
Earnings $ 0.04 $ 0.02 $ 0.17 $ 0.06 $ 0.24
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