Drkoop.com (Nasdaq: KOOP) posted a first-quarter loss that was slightly smaller than Wall Street's diminished estimates.
After market close Monday, the health care website operator reported a first quarter loss of $24.8 million, or 80 cents per share. First Call consensus predicted a loss of 82 cents per share, a figure that grew from earlier expectations of a 52 cents per share loss.
Analysts lowered their expectations last month after a warning from Drkoop.com
First quarter revenues for the cash-strapped company, which went public last June, rose to $4.7 million from $404,000. For the quarter, Nielson I/PRO audited page views increased 30 percent sequentially to 64 million and page views per unique visitor increased 86 percent to 7.8, compared with the quarter ended December 31, 1999, the company said.
Pressure on the company to prove its viability has intensified since March when independent auditors questioned its ability to continue as a going concern because of dwindling supply of cash. Drkoop.com's stock had traded as high as 45 3/4 last July before falling out of favour.
Shares of Drkoop.com fell slightly to 2 7/32 in afterhours activity on the Island electronic communications network, after the quarterly report was released. The stock closed Monday's regular trading at 2 7/16, down 1/32 for the session.
Other companies reporting quarterly results Monday:
Zap.com (OTC: ZPCM.OB) lost $3.1 million in the first quarter.
The operator of the fledgling ZapNetwork of websites generated no revenue for the three months ended March 31. Zap.com is still building out its business and developing its ZapBox interface. The company posted operating expenses of $3 million during the quarter, including a $2.1 million non-cash charge for consulting.
Zap.com recently registered 20 million shares to be offered to website owners who join the ZapNetwork.
Fashionmall.com (Nasdaq: FASH) lost far more than analysts predicted in the first quarter.
The website for clothing and other items reported a first quarter loss of $2.85 million, or 38 cents per share. First Call's survey of two analysts predicted a loss of 16 cents per share.
First quarter revenue increased to $1.32 million, up 71 percent year-over-year and up 22 percent sequentially.>