CareerEngine Network, Inc. Reports Third Quarter Loss Of 16 Cents Per Share

CareerEngine Network/(AMEX: CNE), which hosts vertical career sites and operates e-recruiting ASPs, announced a third quarter loss from continuing operations of $847,000 or 16 cents per share (basic and diluted) for the period ending September 30, 2000, compared to $666,000 or 13 cents per share (basic and diluted) for the comparable quarter a year ago. Loss from continuing operations for the nine-month period ended September 30, 2000 was $3,508,000 or 65 cents per share (basic and diluted), compared to $363,000 or 6 cents per share (basic and diluted) for the comparable nine-month period a year ago. Revenues recorded in the third quarter were $415,000, a 24 percent sequential increase from $336,000 recorded in the second quarter of 2000. For the nine-month period ended September 30, 2000, the company's revenues were $930,000 versus $16,000 during the comparable period last year. The company also noted their number of unique online visitors increased 37 percent from the prior quarter while advertising expenditures remained constant. In August 2000, the company discontinued its merchant banking and financial consulting operations, resulting in losses of $1,100,000 for 20 cents per share for the quarter. All of CareerEngine Network, Inc.'s revenues are now generated from its e-recruiting segment.