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Click2Learn Posts A $3.3 Million Loss

The learning management company says that overseas expansion efforts and acquisition costs are the reason, and expects to be cash flow positive in Q1 2002.
Click2Learn Inc. Thursday reported record revenue--as well as stagnant losses--for its second-quarter earnings. It blamed the losses on its acquisition of content-management-system developer Intelliprep Technologies Inc. in April and on its expansion into Japan earlier this year.

For the quarter ended June 30, the learning-management system supplier reported a net loss of $3.3 million, or 17 cents per share, on revenue of $11.4 million, compared with a loss of $3.3 million, 19 cents, on revenue of $10.4 million for the same period a year ago. Click2Learn expects to have positive cash flow by first quarter of 2002.

Earlier this week, DigitalThink Inc. reported strong growth, though profitability continues to elude the online content provider. For the quarter ended March 31, DigitalThink reported a loss of $4 million, or 11 cents per share, excluding goodwill amortization expenses, on revenue of $15 million, compared with a loss of $6.1 million, or 18 cents per share, on revenue of $6.3 million for the same period last year. Including the charges, the net loss was $8.6 million, or 24 cents per share, up from $7.7 million, or 23 cents per share, a year ago.