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.