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Flycast Posts Loss of $7.8 Million for 3Q

Ad network Flycast Communications Corp., soon to be acquired by CMGI Inc., reported a loss attributable to common stockholders for the third quarter of $7.8 million, or $0.57 per diluted share.

That compares to a loss of $2.49 million or $1.75 per share in the same period a year ago. On a pro forma basis, revenues for the third quarter of 1999 were $12.5 million, up from $2.5 million for the third quarter of 1998.

Cost per thousand (CPM) impressions sold on the Flycast Network for the third quarter was $3.44, a 12 percent increase over second quarter 1999 CPM of $3.06.

"We had an exceptionally strong quarter," said George Garrick, chairman and chief executive officer of Flycast Communications. "The dramatic growth of our customer base, affiliate network and revenues reflects our focus on customers and service execution.

Flycast's ROI-focused network reaches more than 25 million people a month, or 41 percent of the Web audience.