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CMGI Announces First Quarter Fiscal 2001 Financial ResultsCompany Posts $366.1 Million in Revenues
Continues Aggressive Steps Towards Leadership, Growth and Profitability Across All Business Segments
ANDOVER, Mass., Dec 14, 2000 (BUSINESS WIRE) -- CMGI, Inc. (Nasdaq: CMGI), a leading global Internet operating and development company, today reported net revenue of $366.1 million for the first quarter ended October 31, 2000, a 184% increase compared with the first quarter of fiscal 2000 and a 3% sequential decrease in quarterly revenue. Net revenue for the Company`s eBusiness and Fulfillment segment increased 236% compared with the first quarter of fiscal 2000, and increased 10% compared with the fourth quarter of fiscal 2000. Net revenue for the Company`s Internet Professional Services segment increased 15,480% compared with the first quarter of fiscal 2000, and increased 9% compared with the fourth quarter of fiscal 2000. Net revenue for the Company`s Infrastructure and Enabling Technologies segment increased 659% compared with the first quarter of fiscal 2000, and remained essentially equal compared with the fourth quarter of fiscal 2000. Net revenue for the Company`s Search and Portals segment increased 22% compared with the first quarter of fiscal 2000, and decreased 11% compared with the fourth quarter of fiscal 2000. Net revenue for the Company`s Interactive Marketing segment increased 161% compared with the first quarter of fiscal 2000, and decreased 33% compared with the fourth quarter of fiscal 2000.

Excluding the effects of in-process research and development expenses, amortization and impairment of intangible assets and stock-based compensation charges in both periods, CMGI`s net loss was $74.0 million or ($0.25) basic loss per share for the first quarter of fiscal 2001, compared to a net loss of $142.8 million or ($0.49) basic loss per share for the previous quarter ended July 31, 2000. Including the effects of in-process research and development expenses, amortization and impairment of intangible assets and stock-based compensation charges in both periods, CMGI`s net loss was $636.6 million or ($2.07) basic loss per share for the quarter, compared to a net loss of $633.7 million or ($2.17) basic loss per share for the previous quarter ended July 31, 2000. First Call/Thomson Financial had reported a consensus estimate of ($2.13) net loss per share for the first quarter of fiscal 2001.

First quarter fiscal 2001 results included the impact of pre-tax gains, classified as "Other gains, net," of $357.4 million on the sale of Lycos, Inc. common stock, $135.3 million on the sale of Kana Communications, Inc. common stock, $87.8 million related to forward sale arrangements of Yahoo!, Inc. common stock and $70.9 million on the sale of Critical Path, Inc. common stock. These gains were partially offset by a pre-tax loss of $358.9 million on the sale of Pacific Century CyberWorks Limited common stock and a $90.2 million write-down accounted for as a realized loss on four marketable securities investments. In addition, during the first quarter of fiscal 2001, the Company recognized a pre-tax gain of $126.6 million primarily resulting from the issuance of stock by Engage, Inc. in connection with its acquisitions of Space Media Holdings Limited and MediaBridge Technologies, Inc. (MediaBridge). Fourth quarter fiscal 2000 results included pre-tax gains of $82.1 million on the sale of Yahoo!, Inc. common stock, $53.6 million on the acquisition of Half.com by eBay, Inc., and $9.2 million primarily resulting from issuance of stock by Engage to Compaq Computer Corporation. During the fourth quarter of fiscal 2000 the Company also recorded in-process research and development expenses totaling $19.7 million primarily related to the acquisition of yesmail.com, inc., and a $35.0 million write-down accounted for as a realized loss on one marketable security investment.

Excluding the effects of in-process research and development, amortization and impairment of intangible assets and stock-based compensation charges, CMGI`s first quarter fiscal 2001 operating expenses were $609.3 million, reflecting a less than 1% increase from the fourth quarter of fiscal 2000 and a 158% increase from last year`s first quarter. Excluding the effects of in-process research and development, amortization and impairment of intangible assets and stock-based compensation charges, CMGI reported an operating loss of $243.1 million or ($0.79) per share for the quarter ended October 31, 2000 versus a loss of $229.0 million or ($0.78) per share in the quarter ended July 31, 2000.

"In line with our continuing evolution as an operating company, the first quarter of this new fiscal year marked the beginning of our aggressive steps to foster growth, and achieve market leadership and profitability across all business segments. We`ve made several important steps toward these goals and we will continue to focus and invest resources in the strongest, most strategic businesses for CMGI`s future in order to deliver value to our stockholders," said David Wetherell, CMGI Chairman and CEO. "Moving forward, and as the interactive advertising industry continues to face near-term pressure, we will specifically look for new opportunities to expand our base of licensing, software and enterprise-derived revenues, as well as to significantly reduce cash burn."

CMGI has formally organized its majority-owned operating companies and venture capital affiliate into six business segments (Search and Portals; Internet Professional Services; Interactive Marketing; eBusiness and Fulfillment; Infrastructure and Enabling Technologies; and Venture Capital) with the goals of achieving leadership, growth and profitability across all segments. The Company has also stated it intends to reduce the number of its majority-owned operating companies to an optimal number of five to ten in total by the end of its 2001 fiscal year.

During the quarter, and in keeping with CMGI`s efforts to accelerate its path to profitability and effect strategic and operational efficiencies within its majority-owned companies, CMGion acquired two of its fellow CMGI majority-owned subsidiaries, AdForce and Tribal Voice. CMGion will license AdForce`s robust, scaleable serving technology to support its emerging platform for dynamic delivery of content and applications at `the edge.` Additionally, Chuck Berger, chairman and CEO of AdForce, was named CEO of CMGion.

Subsequent to quarter-end, CMGI determined it will exit the entertainment portal business represented by iCAST, and exit the ad-supported Internet access business represented by 1st Up.com, by the close of the second fiscal quarter ending January 31, 2001. CMGI also announced that Signatures Network, a business previously included in the operations of iCAST, will continue as an independent CMGI majority-owned subsidiary and will transition to the Company`s eBusiness & Fulfillment segment.





OPERATING SEGMENT RESULTS AND HIGHLIGHTS


As a result of the transactions discussed above, the results of AdForce, which were previously included in the Interactive Marketing segment, are now included in the Infrastructure and Enabling Technologies segment and the results of Signatures Network, which were previously included in the Search and Portals segment, are now included in the eBusiness and Fulfillment segment. For comparative purposes, all prior period segment results have been reclassified to reflect these transactions.

In accordance with generally accepted accounting principals, all significant inter-company transactions have been eliminated in consolidation. Accordingly, segment results reported by CMGI exclude the effect of transactions between CMGI`s subsidiaries.






eBusiness and Fulfillment


The eBusiness and Fulfillment segment, the results of which reflect the consolidated performance of majority-owned subsidiaries SalesLink, Signatures Network and uBid.com, reported net revenue of $188.6 million in the first quarter of fiscal 2001, compared with $171.3 million in the previous quarter ended July 31, 2000, an increase of 10%. First quarter net revenue increases primarily reflect increased revenues from uBid.com. Excluding the effect of amortization of intangible assets and stock-based compensation charges, the operating loss for the eBusiness and Fulfillment segment was $3.5 million in the quarter ended October 31, 2000 versus a loss of $6.0 million in the quarter ended July 31, 2000. Including the effects of amortization of intangible assets and stock-based compensation charges, the operating loss for the eBusiness and Fulfillment segment was $40.6 million in the quarter ended October 31, 2000 versus a loss of $44.8 million in the quarter ended July 31, 2000.

October 2000 operating metrics for the segment included approximately 4.9 million unique users, and 315,000 items sold at auction.

uBid.com, the number one business-to-consumer auction site and the second most visited auction site on the Internet (Media Metrix, April to October), attracted over 15 million visitors to the site during the quarter, a 72% increase compared to the same quarter in the previous year. In addition, total bids increased 100% and the number of bidders increased 78% during the quarter ended October 31, 2000 as compared with the same period last year.

With its foundation firmly in place, uBid.com continued to expand in the first quarter, adding 43 new categories to its product roster. Improved internal efficiencies, including moving its customer contact center in-house, as well as several significant merchandising agreements contributed to a milestone in products auctioned during the quarter of more than one million, an increase of 160% versus the same quarter in the previous year.

SalesLink`s operating highlights for the quarter included roll-out and early shipments through the Sun Microsystems Direct Line Feed (DLF) initiative. This unique gain sharing, supply chain management program uses an advanced planning system to better manage vendor relations, forecasting and inventory. Additionally, SalesLink completed the ramp-up of its production capabilities in its Guadalajara, Mexico facility and expanded and secured additional warehouse space in support of increased volumes.

Signatures Network (SNI) is a leading marketer and licensor of official music, celebrity and entertainment merchandise, sponsorships, endorsement and online rights. SNI holds extensive merchandising and marketing rights to more than 125 top music artists, celebrities and entertainment properties, including Madonna, The Beatles, Barbra Streisand, Britney Spears, KISS, Bruce Springsteen, Bob Dylan and many more.

In September, Signatures Network launched, in partnership with Madonna, Madonnamusic.com, her official web site and online store, concurrent with the release of her highly successful new record, "Music." SNI also generated record-breaking event sales and substantial online sales for Barbra Streisand`s final concerts in Los Angeles and NY, and signed two new rising pop acts, Aaron Carter and O-Town, to its client roster.






Internet Professional Services


The Internet Professional Services segment, the results of which reflect the performance of majority-owned subsidiary Tallan, reported net revenue of $33.3 million in the first quarter of fiscal 2001, compared with $30.5 million in the previous quarter ended July 31, 2000, an increase of 9%. First quarter net revenue increases primarily reflect the growth in Tallan`s customer base from the previous quarter. Excluding the effect of amortization of intangible assets and stock-based compensation charges, the operating income for the Internet Professional Services segment was $1.6 million in the quarter ended October 31, 2000 versus a loss of $1.5 million in the quarter ended July 31, 2000. Including the effects of amortization of intangible assets and stock-based compensation charges, the operating loss for the Internet Professional Services segment was $45.7 million in the quarter ended October 31, 2000 versus a loss of $52.8 million in the quarter ended July 31, 2000.

First quarter operating metrics for Tallan included 430 billable consultants, and annualized revenue per billable consultant of $316,000.

In October, CMGI Solutions changed its name to Tallan, a Gaelic word meaning "talent." The new name reflects the company`s deep history and heritage of developing and delivering top-quality e-business systems using the best talent in the industry. Tallan continued its pattern of solid growth during the first quarter of fiscal 2001 by adding several leading companies to its client roster, including Authoria, ExchangePath, Globam and Official Payments Corp.

Also during the quarter, Tallan launched its Strategic Services Group. This consulting group works with clients to develop and refine their business and technology strategies, helping to determine the best match for business needs and technology capabilities. The service extends Tallan`s abilities to support clients across the entire spectrum of e-business and e-commerce solutions.

Finally, in the first quarter of fiscal 2001 Tallan was recognized by two organizations for its continued achievements. Tallan earned its third consecutive annual Connecticut Technology Council`s Fast 50 award, recognizing the 50 most successful technology firms in the state. Tallan also earned its fourth consecutive annual listing on the Deloitte & Touche Fast 500, which recognizes the most successful technology firms in the United States.






Infrastructure and Enabling Technologies


The Infrastructure and Enabling Technologies segment, the results of which reflect the consolidated performance of majority-owned subsidiaries 1st Up.com, Activate, CMGion, Equilibrium, ExchangePath, NaviPath and NaviSite, reported net revenue of $35.1 million in the first quarter of fiscal 2001, remaining essentially equal with the previous quarter ended July 31, 2000. First quarter net revenue primarily reflects increases in customer bases of NaviSite and Activate offset by an industry-wide decline in on-line ad spending, which impacted CMGion`s subsidiary, AdForce. Excluding the effect of amortization of intangible assets and stock-based compensation charges, the operating loss for the Infrastructure and Enabling Technologies segment was $92.3 million in the quarter ended October 31, 2000 versus a loss of $77.0 million in the quarter ended July 31, 2000. Including the effect of amortization of intangible assets and stock-based compensation charges, the operating loss for the Infrastructure and Enabling Technologies segment was $193.7 million in the quarter ended October 31, 2000 versus a loss of $159.7 million in the quarter ended July 31, 2000. Included in amortization of intangible assets and stock-based compensation during the quarters ended October 31, 2000 and July 31, 2000 were impairment charges of $36.9 million and $13.3 million, respectively, taken on certain goodwill and other intangible assets of the Infrastructure and Enabling Technologies segment.

First quarter operating metrics for the Infrastructure and Enabling Technologies segment included:

-- Average annualized revenue per managed hosting customer (including CMGI subsidiaries and affiliates) of $266,000;






-- Total data center "raised floor" space of 88,000 square feet;
-- More than 35 million total streams;
-- 104 terrabytes of data transferred; and
-- More than 44.7 million recorded ISP usage hours in October.


Activate continued to show strong growth during the first quarter across all key metrics: revenue, number of events and terabytes streamed. Activate, Engage, broadcast automation leader RCS and Microsoft jointly introduced a service for radio stations to support streaming media ad serving within live webcasts. Activate and Apple Computer announced Activate`s support for Apple`s QuickTime media format. The company also announced major distribution agreements with AT&T Canada and TELAV, as well as a significant number of customer wins.

The SEC`s "Regulation FD, " which went into effect during the quarter, provided additional momentum for Activate`s event webcasting. Other high profile events broadcast during the quarter ranged from a Ralph Nader Presidential rally to entertainment events for MTVi and BMG Music. At the close of the quarter, Activate was named by Computerworld as one of the "Top 100 Emerging Companies to Watch for 2001."

CMGion completed its acquisition of AdForce on October 11, 2000. CMGion selected AdForce`s seasoned management to integrate AdForce`s global data delivery infrastructure with planned technology contributions from strategic partners Sun Microsystems, Novell and Compaq to develop an applications platform designed to enable and enhance content transformation, applications and content personalization at the edges of the Internet.

AdForce continued to expand its new media data delivery offering in the first quarter, and quickly assumed leadership in both ad serving and media sales services for interactive television, forging relationships with interactive television partners Liberate, Wink, WorldGate, OnCommand, ICTV, Set-top.com and MetaTV. AdForce also continued to advance its wireless ad delivery offering via partnerships with Alcatel, Mediaplex and OpenGrid to offer advertisers a complete wireless ad targeting, management and delivery service.

On September 25, 2000, ExchangePath publicly launched its person-to-person payment service allowing consumers to send, receive and request money by email. ExchangePath formed alliances with uBid and AuctionWatch to become the preferred payment provider for these consumer marketplaces, as well as with the Associated Press to process digital content payments for articles from the AP archive.

In the first quarter, Equilibrium launched its MediaRich Publishing Platform, the industry`s first server-based platform for automating the web site media publishing process. The initial market awareness campaign for MediaRich included nationwide press and analyst tours, an extensive online and print advertising campaign, participation in the Internet World trade show, and the re-launch of equilibrium.com. Equilibrium also announced strategic relationships with Akamai, Cisco Systems, NaviSite, BEA, Fujistu, and CacheFlow to support the development and growth of its technology.

Since quarter-end, usage of NaviPath`s wholesale access business (GeoDial) has continued to grow sharply to more than 50 million sessions per month. NaviPath also expanded its available network capacity in North America by more than 25% and broadened coverage agreements with other carriers to extend its reach to Europe, Asia and Latin America.

In continuing to develop the NaviOne Virtual ISP (VISP) business and product line, NaviPath launched three previously signed brands during the quarter. Additional new agreements included deals with Motient and Critical Path to provide wireless email services as a part of the NaviOne offering. The NaviOne wireless services will be provided by integrating Motient`s eLink(SM) and Critical Path`s Inscribe(TM) Messaging Services with the NaviOne Solutions Suite.

NaviPath also implemented a significant new GeoDial customer in Covad Communications in preparation for its planned launch of several large VISP programs on its "LaserLink" platform. Together with the NaviOne platform, this agreement enables NaviPath to participate in the growth of the VISP segment over dual network platforms. Consistent with that growth, and since the quarter end, NaviPath signed a strategic alliance with Level 3 Communications, Inc., (Nasdaq: LVLT) to offer the NaviOne private-label VISP solution to large businesses and other organizations which use Level 3`s Managed Modem services.

NaviSite continued to execute on the company`s mission to become the leading global managed application hosting provider, enabling customers to focus on their core competencies by providing a single point for outsourcing the management and hosting of mission-critical web sites and Internet applications. NaviSite continued to advance in several key areas, including growth metrics, new services and global expansion.

In terms of growth metrics, NaviSite added 30 net new customers, bringing its base of customers to 392. This customer growth continued across all three customer segments: enterprise accounts, independent software vendors and dot.com`s. Enterprise customers were the fastest growing segment for the company during the quarter, represented by new accounts including Wolters Kluwer, Warburg Pincus, Merchant Banc, and Mitsubishi. For the first quarter, revenue (including CMGI subsidiaries and affiliates) grew 27% sequentially, and revenue per customer continued to increase. NaviSite also increased headcount to 547 as of the end of October 2000.

In the first quarter NaviSite introduced several significant new hosting and managed service offerings. Among these were comprehensive managed storage solutions, based on industry-leading EMC and Compaq storage systems. NaviSite also introduced five new professional service "best practice" offerings designed to optimize web-based applications via innovative technologies, architectures and implementation methodologies. NaviSite also signed an agreement with VeriSign to provide digital certification services to its managed hosting customers.

In support of its streaming services, NaviSite unveiled its streamOS platform, providing customers and application developers with "drag and drop" simplicity for content development with improved management, performance and enhanced reporting capabilities. To support the growing demand for its streaming services the company also signed agreements with leading Content Delivery Networks (CDNs), including Digital Island, Enron and Evoke Communications.

NaviSite`s global expansion has continued with significant agreements with NTT Data of Japan and subsequent to the close of the quarter, with PCCW, the primary telecommunications provider for Hong Kong. Both agreements will enable NaviSite to utilize existing hosting facilities and bandwidth services as a foundation for providing its managed application services.






Search and Portals


The Search and Portals segment, the results of which reflect the consolidated performance of majority-owned subsidiaries AltaVista, iCAST and MyWay.com, reported net revenue of $60.4 million in the first quarter of fiscal 2001, compared with $67.8 million in the previous quarter ended July 31, 2000, a decrease of 11%. First quarter net revenue decreases primarily reflect the overall softness in on-line advertising revenues experienced by AltaVista as it continues to realign its operations to focus on its core strength in search technologies, for both consumers and enterprises. Excluding the effect of in-process research and development and amortization of intangible assets and stock-based compensation charges, the operating loss for the Search and Portals segment in the quarter ended October 31, 2000, which included $4.7 million in restructuring charges, was $65.0 million versus a loss of $84.8 million in the quarter ended July 31, 2000. Including the effects of in-process research and development and amortization of intangible assets and stock-based compensation charges, the operating loss for the Search and Portals segment was $353.7 million in the quarter ended October 31, 2000 versus a loss of $304.8 million in the quarter ended July 31, 2000. Included in amortization of intangible assets and stock-based compensation during the quarter ended October 31, 2000 were impairment charges of $12.4 million taken on certain goodwill and other intangible assets of the Search and Portals segment.

Segment operating metrics included a record of 72 million unique users and average daily page views of more than 91 million for the month of October.

During the quarter, AltaVista announced new investments in the "search layer," part of a unified strategy designed to build upon AltaVista`s leading position in search services to unlock the Web for Internet users and allow businesses to turn content and unstructured data into valuable information. The company also consolidated its California operations to its Palo Alto headquarters and reduced its workforce 25 percent, among multiple steps to achieve near-term profitability, excluding amortization expenses, for its North American operations. The new investments are intended to support the development of the industry`s first Third Generation Search Service and vertical search indices, form new Information-Marketing Services and Search Software Enterprise sales and support organizations, and expand globally to more than 35 countries this fiscal year.

AltaVista launched new search sites during the quarter in Denmark, Ireland and Spain, each boasting large country-specific indices, renowned Babel Fish free language and Web page translation, as well as access to AltaVista`s worldwide index of Web sites and multimedia files. AltaVista also unveiled Raging Search "Unplugged," the largest index of Wireless Web pages available on the Internet for mobile users on their WAP (Wireless Application Protocol)-enabled mobile phones and devices. AltaVista`s pure Web page search site delivers relevant WML (Wireless Markup Language) pages designed to appear on wireless screens in response to search queries. The index has recently increased to 3.2 million pages.

As previously announced, MyWay.com initiated the consolidation of its two portal platforms, and began migrating key clients to its Homebase Portal platform. Key clients targeted for this transition included Bellsouth.net, Fidelity Institutional Brokerage Group and Sony. When this transition is completed in the quarter ended January 31, 2001, MyWay will be executing exclusively on a business-to-business software licensing revenue model that has shown strong growth over the past eighteen months.

Also during the quarter, MyWay released new versions of its Homebase portal and Business Directory products. With nearly 200 customers utilizing these products to power their online businesses, MyWay is strongly positioned to gain additional market share within its traditional customer base of local print media, as well as expand into other markets including magazines and broadcast television networks.

MyWay continued to acquire and launch new customers in the US, Canada and the UK. These include www.myto.com with Telus, Canada`s second largest telecommunications company, and a redesigned version of the www.icscotland.co.uk, a leading online guide in Scotland operated by the Trinity Mirror Group. The company also launched multiple new sites for McClatchy and Hearst Corporation.






Interactive Marketing


The Interactive Marketing segment, the results of which reflect the consolidated performance of majority-owned subsidiaries Engage and yesmail.com, reported net revenue of $48.7 million in the first quarter of fiscal 2001, compared with $72.5 million in the previous quarter ended July 31, 2000, a decrease of 33%. The first quarter net revenue decrease reflects an industry-wide decline in on-line advertising revenue and a decrease in Engage`s software sales. A strategic transaction with Compaq, an affiliate of CMGI, contributed revenues of approximately $13 million to Engage`s software sales in the fourth quarter of fiscal 2000. Excluding the effect of in-process research and development and amortization of intangible assets and stock-based compensation charges, the operating loss for the Interactive Marketing segment, which included $4.1 million in restructuring charges, was $62.6 million in the quarter ended October 31, 2000 versus a loss of $35.6 million in the quarter ended July 31, 2000. Including the effects of in-process research and development and amortization of intangible assets and stock-based compensation charges, the operating loss for the Interactive Marketing segment was $240.9 million in the quarter ended October 31, 2000 versus a loss of $192.1 million in the quarter ended July 31, 2000. Included in amortization of intangible assets and stock-based compensation during the quarter ended October 31, 2000 were impairment charges of $16.8 million taken on certain goodwill and other intangible assets of the Interactive Marketing segment.

Operating metrics for the Interactive Marketing segment during the quarter included:

-- More than 28.6 billion ads served;

-- 88 million unique, anonymous profiles in the Engage Knowledge database;






-- 59.1 million emails served; and
-- More than 14.7 million registered email members.


During the first fiscal quarter, Engage continued to expand its operations internationally with the acquisition of Space Asia Media Limited, which was combined with Engage Australia and renamed Engage Asia. Engage`s international revenues accounted for 17.8% of its total revenues in the first quarter of fiscal 2001, up from 15% in the fiscal fourth quarter of 2000. Engage also finalized its acquisition of MediaBridge Technologies, which further expands Engage`s software product offerings to both traditional off-line and online marketers.

In product news, Engage launched its Engage ECHO(TM) solution designed to enable marketers to retarget their prospects and customers across the Internet. Through anonymous behavioral based profiling, Engage ECHO can help ensure that relevant messages are delivered based on recent consumer behavior, resulting in potential increased conversion rates and revenues, decreased customer acquisition costs and improved customer retention. Five charter customers, including CareerBuilder.com and Express.com, formerly DVD Express, have experienced the benefits of Engage ECHO by achieving a 289% average improvement in post-click conversion rates.

Both during and subsequent to the quarter end, Engage also announced several management changes. The company appointed a new Chief Financial Officer, Bob Bartlett, as well as a new President and CEO, Tony Nuzzo, replacing Paul Schaut who resigned in November. Nuzzo has 25 years of management and marketing experience and brings to Engage a unique blend of strategic, leadership and business development skills.

During its second full quarter as a CMGI operating company, yesmail.com(TM) continued to build upon its position as a leading email marketing solutions provider. In the fiscal first quarter, yesmail.com added 33 Network Partners, including OfficeMax, Evite, Inc., togglethis and MyCity.com. Also during the quarter, yesmail.com`s membership base increased from 11.6 million to more than 14.8 million, reflecting the addition of more than 36,000 new members per day.

Leveraging the strength of the CMGI network, yesmail.com signed a strategic reseller agreement with Engage. Under the terms of the agreement, Engage has begun reselling yesmail.com`s permission email marketing services to its customers and prospects. In addition, yesmail.com launched a Certification Program for agencies and brokers. To date, more than 500 individuals from approximately 100 top advertising agencies and list brokers have participated in the Best Practices Certification Workshop. To close the quarter, yesmail.com introduced YesConnect(TM), an advanced Web-based platform for permission email marketing. With YesConnect, yesmail.com clients can target, create, manage and track their email campaigns anytime, anywhere via an online system built for speed and reliability.






Venture Capital


In addition to the Company`s results from continuing operations for its five operating segments, during the first quarter of fiscal 2001, CMGI`s affiliated venture capital arm, CMGI@Ventures, generated net pre-tax gains of approximately $629.0 million. These net gains primarily consisted of pre-tax gains of $357.4 million on the sale of Lycos, Inc. common stock, $135.3 million on the sale of Kana Communications, Inc. common stock, $87.8 million related to forward sale arrangements of Yahoo!, Inc. common stock, $70.9 million on the sale of Critical Path common stock, $8.1 million on the acquisition of its investment in eGroups by Yahoo!, Inc. and a $21.4 million write-down accounted for as a realized loss on Hollywood Entertainment Corporation common stock. During the quarter, CMGI`s portion of investments made by CMGI@Ventures totaled $42.2 million. Inception-to-date returns from liquidity events for CMGI@Ventures investments as of October 31, 2000, was 2,819%.

CMGI contributes 100% of the capital and is entitled to approximately 80% of the net capital gains, as defined, of CMG@Ventures I, CMG@Ventures II, CMGI@Ventures III and CMGI@Ventures IV. In addition, CMGI is entitled to approximately 2% of net capital gains, as defined, of @Ventures III and @Ventures Foreign Fund III. The capital for @Ventures III and @Ventures Foreign Fund III is provided primarily by outside parties. CMGI`s capital commitment to @Ventures III and @Ventures Foreign Fund III is not significant.

CMGI`s portion of the net operating performances of @Ventures investments in which its ownership is between 20% and 50%, or investments in which CMGI has the ability to exert significant influence on the investee company, is reflected in equity in losses of affiliates. Equity in losses of affiliates from @Ventures investments was $15.3 million for the quarter ended October 31, 2000, compared with $35.6 million for the quarter ended July 31, 2000. During the first quarter of fiscal 2001, equity in losses of affiliates from @Ventures investments included CMGI`s portion of the net operating performances of AnswerLogic, BizBuyer.com, Carparts.com, Corrigo, Domania.com, eCircles, Ensera, Findlaw, FoodBuy.com, GXMedia, Hotlinks, Idapta, Industria Solutions, KnowledgeFirst, MyFamily.com, NameTree, NextMonet.com, NextOffice.com, OneCore, Radiate, ThingWorld.com, Undoo Technologies, Vicinity, Virtual Ink and WebCT.

CMGI`s @Ventures investments in 2Roam, Advanced Data Exchange (formerly The EC Company), Alibris, Asimba.com, AuctionWatch.com, CommerceRoute, DialPad.com, DiamondBack Vision, Dejima, EXP.com, Gofish.com, IronMax.com, Vaultus (formerly MobileLogic), Mondera.com, MVP.com (formerly PlanetOutdoors.com), OneMediaPlace, The Realm, Snapfish.com, SpotLife, Tvisions and Vcommerce are accounted for under the cost method of accounting. Under this method, no portion of the earnings or losses of these companies is included in CMGI`s consolidated results of operations at October 31, 2000.

In the first quarter of fiscal 2001, CMGI @Ventures IV made initial investments in 2Roam, CommerceRoute and Undoo Technologies. CMGI @Ventures IV made follow-on investments in DialPad.com, Industria Solutions and The Realm.

2Roam is a wireless Web Application Service Provider (ASP) that offers e-businesses a comprehensive wireless solution to easily convert Web content, commerce and advertising for delivery to mobile end-users using any device via the wireless Web. CommerceRoute provides a complete Internet solution for building digital markets and enabling eBusinesses to minimize transaction costs and optimize business processes, including purchase orders, inventory, fulfillment, order tracking and logistics. Undoo Technologies is developing a patent-pending technology which promises to radically change data storage and data movement over networks.

In addition, the @Ventures III fund made a follow-on investment in MVP.com (formerly PlanetOutdoors.com). In connection with the merger of PlanetOutdoors and MVP.com on October 19, 2000, the fund`s shares of PlanetOutdoors.com converted to shares of MVP.com. Separately, the @Ventures III expansion fund made follow-on investments in Domania.com, FindLaw, Mondera.com and Vcommerce Corporation.

During the quarter, CMG@Ventures II made follow-on investments in blaxxun interactive and KOZ.com.






About CMGI and CMGI @Ventures


CMGI, Inc. (Nasdaq: CMGI), a leading global Internet operating and development company, represents a network of nearly 70 established and emerging companies, including both CMGI operating businesses and synergistic investments made through its venture capital affiliate, CMGI @Ventures. Companies in the CMGI network span a range of vertical market segments including search and portals; infrastructure and enabling technologies; e-business and fulfillment; interactive marketing; and Internet professional services. CMGI leverages the technologies, content and market reach of its extended network to foster rapid growth and industry leadership across the Internet Economy. Compaq, Microsoft, Pacific Century CyberWorks and Sumitomo hold minority positions in CMGI.

CMGI`s majority-owned operating companies include Engage (Nasdaq: ENGA), NaviSite (Nasdaq: NAVI), Activate, AltaVista, CMGion, Equilibrium, ExchangePath, MyWay.com, NaviPath, SalesLink, Tallan, uBid and yesmail.com. CMGI @Ventures has ownership interests in 51 companies, including Terra Lycos (Nasdaq: TRLY), Critical Path (Nasdaq: CPTH), Ventro (Nasdaq: VNTR) and Vicinity (Nasdaq: VCNT).

CMGI`s corporate headquarters is located at 100 Brickstone Square, Andover, MA 01810. CMGI @Ventures has offices there, as well as at 3000 Alpine Road, Menlo Park, CA 94028. For additional information, see http://www.cmgi.com and http://www.ventures.com.

This release contains forward-looking statements which address a variety of subjects including, for example, the expected growth and expansion of CMGI`s business and operations, the expected operating results of CMGI`s segments and operating companies, and the expected benefits resulting from CMGI`s revised structure and reporting procedures. All statements other than statements of historical fact, including without limitation, those with respect to CMGI`s goals, plans and strategies set forth herein are forward-looking statements. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: CMGI`s success is dependent upon its ability to integrate its operating companies in accordance with its segment strategy; CMGI`s success, including its ability to decrease its cash burn rate, improve its cash position and revenue run rate and reach profitability, depends on its ability to execute on its business strategy and the continued and increased demand for and market acceptance of CMGI`s and its operating companies` web sites and the Internet in general; CMGI may experience difficulties integrating technologies, operations and personnel of recent acquisitions; and increased competition and technological changes in the markets in which CMGI competes. For a detailed discussion of cautionary statements that may affect CMGI`s future results of operations and financial results, please refer to CMGI`s filings with the Securities and Exchange Commission, including CMGI`s Annual Report on Form 10-K for the most recently ended fiscal year.






CMGI, Inc. and Subsidiaries
Consolidated Statements of Operations
(In thousands, except per share amounts)

(Unaudited)

Three months ended
October 31, July 31, October 31,
2000 2000 1999

Net revenue $ 366,143 $ 377,248 $ 129,118

Operating expenses:
Cost of revenue 329,878 308,566 113,560
Research and
development 53,271 52,691 20,188
In-process research
and development 1,462 19,746 -
Selling 141,066 161,291 72,501
General and
administrative 85,047 83,684 30,053
Amortization of
intangibles and
stock-based
compensation 652,139 531,023 170,039
Total operating
expenses 1,262,863 1,157,001 406,341

Operating loss (896,720) (779,753) (277,223)

Other income (deductions):
Gains on issuance
of stock by
subsidiaries and
affiliates 126,589 8,460 46,368
Other gains, net 197,338 97,230 48,349
Minority interest 88,852 54,427 23,288
Equity in losses of
affiliates (15,872) (36,167) (1,796)
Interest income 12,119 10,571 5,871
Interest expense (22,588) (30,100) (5,700)
Total 386,438 104,421 116,380

Loss before
income taxes (510,282) (675,332) (160,843)
Income tax
expense (benefit) 126,282 (41,665) (43,431)
Net loss (636,564) (633,667) (117,412)
Preferred stock
accretion and
amortization of
discount (1,890) (1,890) (4,935)

Net loss available
to common
stockholders $ (638,454) $ (635,557) $ (122,347)

Basic and diluted
loss per share
available to common
stockholders $ (2.07) $ (2.17) $ (0.54)

Shares used in
computing basic
and diluted loss
per share 307,873 293,532 226,372



CMGI, Inc. and Subsidiaries
Summarized Consolidated Segment Financial Information
(In thousands)

(Unaudited)

Three months ended
October 31, July 31, October 31,
2000 2000 1999
Net revenue:
eBusiness and
Fulfillment $ 188,625 $ 171,327 $ 56,228
Internet
Professional Services 33,341 30,487 214
Infrastructure and
Enabling Technologies 35,053 35,096 4,617
Search and Portals 60,439 67,792 49,431
Interactive Marketing 48,685 72,546 18,628
--------- --------- ---------
$ 366,143 $ 377,248 $ 129,118

Operating loss:
eBusiness and
Fulfillment $ (40,594) $ (44,790) $ (1,505)
Internet Professional
Services (45,731) (52,842) (4,738)
Infrastructure and
Enabling Technologies (193,725) (159,711) (24,698)
Search and Portals (353,656) (304,792) (220,024)
Interactive Marketing (240,919) (192,071) (18,533)
Other (22,095) (25,547) (7,725)
--------- --------- ---------
$(896,720) $(779,753) $(277,223)

Operating income (loss),
excluding in-process
research and development
expenses and amortization
of intangible assets and
stock-based compensation:


eBusiness and Fulfillment $ (3,539) $ (5,951) $ 1,364
Internet Professional
Services 1,552 (1,463) (3,648)
Infrastructure and
Enabling Technologies (92,294) (76,951) (24,116)
Search and Portals (64,980) (84,811) (58,704)
Interactive Marketing (62,581) (35,558) (14,411)
Other (21,277) (24,250) (7,669)
--------- --------- ---------
$(243,119) $(228,984) $(107,184)





CONTACT: CMGI, Inc.
Andrew J. Hajducky III
EVP and Chief Financial Officer
[phone]
[e-mail]
OR
CMGI Investor Relations
Catherine Taylor
[phone]
[e-mail]
OR
CMGI Public Relations
Deidre Moore
[phone]
[e-mail]

[igor1]

CMGI - Quartalsergebnis
--------------------------------------------------------------------------------


Der Venturekapitalist CMGI veröffentliche nach Börsenschluss sein Ergebnis für das erste Quartal des Geschäftsjahres 2001.

So erwirtschaftete das Unternehmen einen Umsatz in Höhe von 366,1 Mio. US-$ und verzeichnete damit ein Wachstum um 184% zum Vorjahr. Dabei betrug der Verlust 636,6 Mio. US-$ oder -2,07 US-$ je Aktie. Die durchschnittlichen Schätzungen der Analysten lagen bei -2,13 US-$. CMGI ließ noch verlauten, dass man mit dem Quartal einen guten Schritt in Richtung der Profitabilität sowie Marktführerschaft geschafft habe.

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