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Mail.com Doubles Q4 Losses

A snapshot of fourth quarter earnings from New York-based Mail.com :

What they do: Mail.com sells messaging services to businesses internationally.

Q4 Revenues: $17.7 million; Up 190 per cent from $6.1 million in 1999 Q4.

Operating expenses: $95.8 million; Up 241 per cent from $28.1 million in 1999 Q4.

Loss from operations: $78.1 million; Up 257 per cent from $21.9 million in 1999 Q4.

Net Loss: $85.8 million (1.39 cents per share); 433 per cent wider than $16.1 million (36 cents per share) in 1999 Q4.

EDITOR'S NOTE: The $85.8 million in losses includes restructuring charges of $18.4 million and asset impairment charges of 12 million related to the restructuring of Mail.com's Asia.com subsidiary. Excluding those charges, the pro-forma net loss for the quarter was $32.3 million (52 cents per share), 98 per cent wider than $16.3 million (36 cents per share) in 1999 Q4.

Quote: "The year 2000 was a success in many respects as revenues increased almost four times over 1999. It was also a year of fundamental change for the company, as we implemented a strategy to become a pure-play outsourced messaging business, and finished the year with a clear and focused mission to expand our customer base, to build on our existing suite of services and to upsell these services to our existing customers." -- Mail.com CEO Thomas Murawski.



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