Internet Capital Group Announces Financial Results for Third Quarter 2004; Net Loss, Excluding Unusual Items, Decreases by 36%.
Business Wire › November 04, 2004
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Internet Capital Group Announces Financial Results for Third Quarter 2004; Net Loss, Excluding Unusual Items, Decreases by 36%.
WAYNE, Pa. -- Internet Capital Group, Inc. (Nasdaq:ICGE) today reported its results for the third quarter ended September 30, 2004.
"With a sound balance sheet and ample cash, the team further heightened its focus on driving partner company performance this quarter," said Walter Buckley, ICG's Chairman and Chief Executive Officer. "We are encouraged by the growing sales pipelines at many of our Core companies, as well as significant new customer signings this quarter, such as those at both ICG Commerce and LinkShare." ICG Financial Results Consolidated net loss for the third quarter of 2004 was $(7.1) million, compared with $(35.7) million in the prior year. Unusual items reported in the third quarter 2004 results totaled a net gain of $1.8 million mostly related to asset dispositions offset by impairment charges. The prior year quarter was impacted by $21.7 million in net charges principally related to debt-for-equity exchanges offset by a restruct...See the full content of this document
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