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Razorfish posts higher revenue, deeper losses

Published on .

New York--Razorfish, an Internet professional services operation, Wednesday reported increased revenue but deep losses for the fourth quarter and all of 1999. Thanks in part to acquisitions, the company reported that fourth-quarter revenue rose to $52.7 million, up about 1,015% from $4.7 million a year earlier. The net loss for the fourth quarter totaled $23.0 million, compared with a net profit of $1.0 million a year earlier. For the full year 1999, revenue rose to $170.2 million, up about 1,129% from $13.8 million in 1998. The company had a net loss of $14.5 million in 1999, compared with net income of $4.1 million for 1998. Separately, the company announced that Larry Begley will be leaving for family reasons, resigning his positions as exec VP-CFO and director.
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