Thursday, July 27, 2000 | 10:58 a.m.
Purchasepro.com said its sales jumped and its second-quarter loss increased compared with a year earlier.
The Las Vegas-based business-to-business online company reported a net loss, excluding charges for stock-based compensation, of $7.1 million or 22 cents per share for the period ended June 30.
That compared with a net loss of $3.7 million or 33 cents per share, before stock-based compensation charges, a year earlier.
Including the stock-based compensation charges, the loss increased from $4.5 million or $1.19 per share to $12.2 million or 38 cents in the most recent quarter. Quarterly revenue rose to $9.5 million from $1 million.
Purchasepro expects to turn a profit by this time next year.
"With our continued high growth, low attrition rates and excellent cash position of $120 million, we are well positioned to achieve profitability in the second quarter of 2001," Chairman Charles Johnson Jr. said in a statement.
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