iVillage (Nasdaq: IVIL) on Thursday reported increased losses in the second quarter and announced a new CEO.
After market close, the operator of an online network for women reported a second quarter loss of $19.9 million, or 67 cents per share from continuing operations, excluding one-time events and a charge from discontinued operations. Including an $8.1 million charge from investment write-downs and a $9.3 million expense related the discontinued iBaby unit, iVillage lost $37.3 million, or 94 cents per share.
First Call's survey of seven analysts predicted a loss of 88 cents per share.
Also Thursday, iVillage said company President Doug McCormick would become CEO on Aug. 1, replacing Candice Carpenter, who will become chairman.
"As we further drive operating leverage to gain profitability, iVillage is now at a period where Doug's talents are extremely useful to the company," Carpenter said in a statement. "In addition, it is becoming more important to put a face on our brand to help connect women to it. In addition to leveraging the brand in other media and forging relationships, I am eager to spend more time in this role, representing the brand to women here and around the world."
Revenue in the second quarter increased to $19.4 million, a 202 percent gain from $6.4 million in the comparable period a year earlier. About $903,000, or 5 percent, of iVillage's second quarter revenue was recorded from barter agreements that involve trading ad space with other companies, rather than money changing hands.
iVillage had 5.3 million members at the end of June, up 114 percent year-over-year. Second quarter revenue per thousand page views as $39.
Shares of iVillage fell 7/8 to 6 17/32 in Thursday's regular trading, prior to the announcements.>