Profile driven Internet marketing company Engage Technologies Inc. posted a fourth
quarter (ended July 31, 1999) net loss of $10.8 million, or $0.26 per share,
compared to a net loss of $4.6 million, or $0.25 per share, in last year’s
Revenues for the fiscal 1999 fourth quarter were $7.0 million, a 338 percent
increase from last year’s fourth quarter, the company said.
Engage raised $94.8 million, net of issuance and other deal related costs, in
its initial public offering on July 20, 1999.
Revenues for the fiscal year ended July 31, 1999 grew to $16.0 million
compared to $2.2 million in fiscal 1998.
Revenue growth for the fiscal year
was attributable primarily to
the Accipiter and I/PRO acquisitions and increased sales of Engage’s
profiling products and services, the company said.
For the 1999 fiscal year, net loss was $32.0 million, or $0.89 per share,
compared to a net loss of $13.8 million, or $0.83 per share last year.
Paul Schaut, president and chief executive officer, said that in the fourth
quarter, Engage added 33 new customers including FasTV.com, Infomove,
TheBigStore.com, TheBigHub.com and theglobe.com. As of July 31, 116 of the
company’s total of 335
customers used two or more of Engage’s products and/or services.
“We are optimistic about the opportunities before us as we head into fiscal
2000. Engage intends to broaden its family of products and services targeted
at Web publishers, advertisers and merchants,” Schaut said.
There was no word
on when the company may attain profitability.
Engage is a majority-owned operating company of Internet holding company CMGI Inc.