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ARTISTDIRECT'S NUMBERS UP

Earnings, Losses And Other Numbers
To Confuse You
Sounding pleased with themselves about this year's first six months' earnings, online music network ARTISTdirect, Inc. announced revenue increases across the board. Then they mumbled something about losses.

The company reported a net revenue increase of 182% for the second quarter, earning $5.6 million compared with $2 million in the same quarter last year. The company's net loss for the quarter, however, was $14 million, compared to the net loss of $5.5 million in the same quarter in 1999. Thus far this year the company has already lost $25 million. Overall, the company reports a negative gross profit of $527,000 and, excluding non-cash charges related to amortization of stock-based compensation, a second-quarter gross profit of $1.2 million, compared to $382,000 the year prior.

"We are very happy with our financial results for the second quarter," said ARTISTdirect, Inc. CEO and Chairman marc geiger',390,400);">marc geiger',390,400);">Marc Geiger. "These results were achieved in spite of consumers being drawn to free music offered by other Web sites in disregard of copyright law and artist rights. See, if I just turn their attention to the evils of Napster, they won't mention our stock debacle and our total loss…oh, is this thing still on?"

The company's stock closed down 1/16 Wednesday at 3 5/16.

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