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News >> Technology >>
WebMD posts wider loss on charges
By siliconindia
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Friday, 08 August 2003, 19:30 IST
ELMWOOD PARK: WebMD Corp. has reported a wider second-quarter net loss on charges for the sale of parts of its plastic-products division. The Elmwood Park-based Internet health care company posted a loss of $26.3 million, or 9 cents a share, on revenue of $246.5 million
The latest results included a charge of $33.1 million, or 11 cents a share, from the sale of two segments at WebMD's Porex division, which makes plastic products and components.
Excluding that charge, as well as depreciation and amortization expenses, stock-compensation costs, income-tax provisions and "other" income, WebMD said it would have earned 11 cents a share, compared with 7 cents a share a year ago.
WebMD announced early Monday that it completed the sale of the two Porex segments for a combined $46.5 million, subject to customary postclosing adjustments.
Third-quarter revenue is projected to come in between $257 million and $262 million, with fourth-quarter revenue estimated at $269 million to $274 million.