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iVillage reports loss, loses CFO

The online women's network reports a first-quarter loss and says its chief financial officer has resigned, the second top executive to leave in a week.

Online women's network iVillage reported a first-quarter loss and said its chief financial officer has resigned, the second top executive to leave in the past week.

Craig Monaghan, an executive at the company for the past two years, yesterday left iVillage to be chief financial officer of car dealer AutoNation. Scott Levine, vice president, controller and chief accounting officer, will serve as interim CFO while a search for a permanent replacement is conducted, the company said in a statement yesterday.

Allison Abraham, who had served as chief operating officer of iVillage since 1998, resigned one week ago to join as president and as a member of its board of directors. LifeMinders is a service that emails members reminders and tips.

New York-based iVillage yesterday also said it lost $25.2 million, or 85 cents per share, in the first quarter, compared with $17.6 million, or 96 cents a share, in the year-ago period. Wall Street analysts expected the company to post a loss of 94 cents a share, according to research firm First Call.

In addition, the company said revenues for the first quarter surged 221 percent to $20.8 million from $6.5 million in the year-ago period.

Shares have dropped 12 percent this week, closing yesterday at $10.69. In mid-March, iVillage's shares were trading around $26 but have traded as high as $130 and as low as $9.50 during the past 52 weeks.

Founded in 1995, the Web site focuses on health, food, parenting, shopping and other areas of interest to women between the ages of 25 and 54, the company said.