CMGI (CMGI) is one of the old Internet incubators, and it is trading higher in after-hours trading. The company closed up $0.04 at $1.37 in regular trading, but shares were up at $1.44 in after-hours trading.
The incubator reported a 6.5% drop in revenues year over year to $283.6 million, but posted more than a 100% gain to operating income of $5.1 million . Its non-GAAP operating income was $10.2 million and its net income after items was $10.3 million (up almost 400% from last year).
The decline in revenue was primarily attributable to anticipated lower revenue from a single client, in connection with a change in their supply chain model. As of October 31, 2006, CMGI had working capital of approximately $282.5 million compared with $282.2 million at July 31, 2006.
CMGI is one of the old day trader stocks and low-price stocks that many flock to when there is news. Its 52-week trading range is $0.98 to $1.84. There are no real estimates on the company anymore. There has been no change in its old mirror incubator company Internet Capital Group (ICGE).
Jon C. Ogg
December 4, 2006
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
