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Published on .

(May 31, 2001) -- Shares of ad network 24/7 Media, New York, were up 12 cents to close at 49 cents today, following Wednesday's issuance of improved loss-per-share guidance for the second quarter.

The announcement followed the sale of 24/7's Exactis to Experian, the sale of Sabela Media to DoubleClick and the closing of Award Track. The moves led to gross proceeds of more than $19 million and eliminated more than $20 million in annualized cash outflow.

Revenues for the second quarter are now projected in the range of $18 million to $21 million, compared with the $22 million to $25 million range previously expected. The company tied the reduction in revenue to the removal of Exactis and Sabela revenues. -- Adrienne Mand

Copyright May 2001, Crain Communications Inc.

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