InfoSpace posts $33.6 M Q3 revenue

By siliconindia   |   Thursday, 24 October 2002, 07:00 Hrs
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InfoSpace Inc. a provider of wireless and Internet software and application services, has posted revenues of $33.6 million for the third quarter. Pro forma net loss for the third quarter was $610,000, which included $4.7 million of non-cash depreciation.

BELLEVUE: Pro forma EPS was a net loss of $0.02 post split. Pro forma excludes impairment and amortization of intangibles and certain other items as detailed in the footnotes in the following financial tables. In accordance with Generally Accepted Accounting Principles (GAAP), net loss for the third quarter was $26.4 million, or a loss of $0.86 per basic share. "I'm pleased to report that our focus on profitability is paying off. We are continuing to focus on core products, allowing us to streamline and further reduce our operating expenses," said Naveen Jain, chairman and CEO of InfoSpace, Inc. "This quarter we added more than $10 million in cash from operating activities to our already strong and debt free balance sheet."