Internet publisher SportsLine.com on Monday reported a less-than-expected operating loss in the first quarter on revenues of $15.6 million. The Fort Lauderdale, Fla.-based company, which operates CBS SportsLine.com, reported a net loss of $12.3 million, or 34 cents per share--a 48 percent improvement over the same period in 2001. In the first quarter of last year, it reported a net loss of $23.8 million, or 89 cents per share, on sales of $22.3 million. Though down year over year, revenue in the first quarter was slightly up from the $15.5 million recorded in the fourth quarter.
"We streamlined operations, eliminated costs and significantly improved our cash flow performance despite only a modest increase in revenue over last quarter resulting from the continuing sluggish economy," SportsLine.com CEO Michael Levy said in a statement.