Ask Jeeves Inc, the troubled Internet search service, on Wednesday reported a third-quarter loss and said sales declined as it continued to suffer from a soft advertising market and reduced corporate spending. The company, which offers search services both to consumers and corporations, said it lost $27.5 million, or 74 cents per share, compared with a loss of $38.5 million, or $1.08 per share in the year ago period.
These results included a $16.1 million noncash charge related to the writedown of goodwill and other intangible assets from previous business acquisitions. Excluding items, Ask Jeeves posted a pro forma loss of $7 million, or 19 cents per share, compared to a loss of $12.6 million, or 36 cents per share in the year-ago quarter.
Analysts on average had a forecast a loss of 27 cents, as tracked by Thomson Financial/First Call. The company said revenues fell almost 50 percent, to $15.4 million from $29 million.
Bureau Report