VerticalNet posts wider loss, huge revenue gain

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Horsham, Pa.--VerticalNet Inc. reported strong second-quarter revenue growth but a widening net loss. Revenues were $53.6 million, up 1,408% from a year earlier. The company posted a net loss of $87.1 million, compared with net loss of $6.8 million a year earlier. Chairman Mark Walsh said the company expects to be profitable next year.
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