Extract
CMG Reports Second Quarter Financial Results.
ANDOVER, Mass.--(BUSINESS WIRE)--March 12, 1998--CMG Information Services, Inc. (NASDAQ:CMGI) today reported net revenues of $17.8 million for its second quarter ended January 31, 1998, a 13% sequential increase in quarterly revenues excluding the impact of deconsolidating the Company's investment in Lycos, Inc. CMG reported a net loss of $5.8 million, or ($0.58) basic earnings per share for the quarter, compared to net income of $2.7 million or $0.28 basic earnings per share for the previous quarter ended October 31, 1997. Second quarter results included a pre-tax gain of $10.8 million on the sale of 340,000 shares of the Company's stock of Lycos, Inc., and a one-time in-process research and development charge of $875,000. First quarter results included pre-tax gains of $6.3 million on the sale of 219,900 shares of the Company's Lycos stock, $4.2 million on the sale of 2...
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