The net loss was US$53 million, or 85 cents a share, for the period ending October 2 from US$2.6 million, or 8 cents a share, in the year-ago period. Excluding amortization and expenses from its merger with Walt Disney, the company said it had a loss of US$21.5 million, or 34 cents a share. On that basis, analysts had expected Infoseek to lose 42 cents a share, the average estimate from First Call. Revenue rose to US$41.3 million from US$19.2 million.
Infoseek shares have fallen 65 percent in the past year after Disney said it would buy the rest of Infoseek it didn't already own, combine it with its own Internet assets, and create a stock to track the performance of the new company.
Some investors and analysts also have expressed concern about the company's management after Infoseek chief executive Harry Motro said he is leaving the company and Disney's executive in charge of Internet operations also left to join a start-up.
The company excluded US$29.8 million for amortization of intangible assets and US$1.8 million related to transaction costs for the pending merger with Disney. The company released its results after the close of U.S. trading. Infoseek rose 0.81 to 28.88.
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