CMGI's posts Q4 loss of $633 million

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Andover, Mass.--CMGI Inc. posted a fiscal fourth-quarter loss of $633 million, compared with a loss of $453 million a year earlier. CMGI's announcement comes as it consolidates operations and makes cuts to become profitable more quickly. Among other moves, CMGI has foregone an international fund launch, is reducing the number of companies in which it owns a 50% stake, and is advising portfolio companies such as Engage Inc. and AltaVista to reduce staff and expenses. CMGI's revenues, meanwhile, grew markedly; fourth-quarter revenues were $377 million, up from $56 million a year earlier.
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