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Tickets.com net loss better than expected

Tickets.com, which sells tickets online for live events, reported Tuesday a fourth-quarter net loss of 23 cents per share, beating Wall Street estimates by a penny. Net loss for the quarter, which ended Dec. 31, declined to $13.8 million--a 45.5 percent improvement over the same period of 1999 and a 10.1 percent improvement over the third quarter. Revenue rose to $15.3 million, an increase of 19.2 percent from a year ago. W. Thomas Gimple, co-chairman and chief executive officer, said in a statement that revenue growth was somewhat constrained by a strategic decision to eliminate certain low margin businesses, such as event packages, and renegotiate or exit contracts with unfavorable terms.

Tickets.com, which sells tickets online for live events, reported Tuesday a fourth-quarter net loss of 23 cents per share, beating Wall Street estimates by a penny. Net loss for the quarter, which ended Dec. 31, declined to $13.8 million--a 45.5 percent improvement over the same period of 1999 and a 10.1 percent improvement over the third quarter.

Revenue rose to $15.3 million, an increase of 19.2 percent from a year ago. W. Thomas Gimple, co-chairman and chief executive officer, said in a statement that revenue growth was somewhat constrained by a strategic decision to eliminate certain low margin businesses, such as event packages, and renegotiate or exit contracts with unfavorable terms.